The housing market in 55408 Minneapolis, MN is slightly lower than the national median value for homes at $311,700. The appreciation rate over the past year is also lower than the national average of 8.27%, standing at 4.79% in this area. This could be indicative of a more stable housing market in this area, or it could simply be due to different factors such as population growth or wealth distribution among residents. Regardless, there are still many opportunities to be had in 55408 Minneapolis, MN when it comes to investing in real estate and taking advantage of the lower median value and slower appreciation rate.
The median home cost in Minneapolis (zip 55408) is $311,700. Home appreciation the last 10 years has been 89.0%. Home Appreciation in Minneapolis (zip 55408) is up 7.1%.
Average Age of Homes
- The median age of Minneapolis (zip 55408) real estate is 69 years old
The Rental Market in Minneapolis (zip 55408)
- Renters make up 70.4% of the Minneapolis (zip 55408) population
- 2.0% of houses and apartments in Minneapolis (zip 55408), 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.