Zip 55406 (Minneapolis, MN) Housing

The housing market in Minneapolis, MN, zip code 55406 is relatively strong compared to the rest of the US. The median value of a house in that area is $301,100 which is 11.2% lower than the US national median value of $338,100. Despite this slight difference, the 1 year appreciation rate in 55406 is actually higher than the US average at 4.79%, versus 8.27%. This indicates that home values are continuing to grow steadily in Minneapolis and it could be an attractive market to look into for potential investors or homeowners.

The median home cost in Minneapolis (zip 55406) is $301,100. Home appreciation the last 10 years has been 89.0%. Home Appreciation in Minneapolis (zip 55406) is up 7.1%.

Average Age of Homes

- The median age of Minneapolis (zip 55406) real estate is 78 years old

The Rental Market in Minneapolis (zip 55406)

- Renters make up 28.3% of the Minneapolis (zip 55406) population
- 0.7% of houses and apartments in Minneapolis (zip 55406), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Minneapolis, Minnesota	United States
	16,975.0	139,647,020.0
	50	42
	$301,100	$338,100
	7.1%	16.6%
	40.7%	57.0%
	89.0%	101.1%
	$12.91	$10.98
	$3,507	$2,690
	63.3%	57.4%
	3.4%	11.2%
	33.3%	31.4%
Vacant Housing
	0.7%	1.9%
	0.6%	0.4%
	0.3%	0.7%
	0.2%	0.4%
	0.3%	3.6%
	1.3%	4.1%
Value of Owner-Occupied Housing
	0.3%	2.6%
	0.5%	2.4%
	0.3%	2.8%
	0.0%	3.9%
	0.3%	4.5%
	6.5%	11.3%
	13.0%	13.0%
	40.2%	20.1%
	24.7%	13.6%
	8.3%	8.3%
	4.9%	9.7%
	0.3%	3.9%
	0.4%	2.2%
	0.1%	0.8%
	0.1%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	5.6%	13.6%
	5.6%	13.6%
	2.0%	13.6%
	3.2%	13.2%
	6.8%	14.8%
	2.0%	13.6%
	6.9%	10.0%
	5.6%	4.7%
	58.9%	12.2%

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