Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$386,707+1.4% YoY · prices are rising
Market right nowBuyer's marketMore homes for sale than last year, 23% have cut their price
Income needed to buy, per year$83,830About 0.9× the local median income ($95,372): affordable for a typical household
Days on market45 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+1.6%Zillow expects prices to rise slightly
The typical home in Hennepin County, MN is worth $386,707, up 1.4% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $385,535, so the area is 0.3% overvalued. It is a buyer's market: homes take about 45 days to sell, listings are up 33% from a year ago, 23% of listings have had a price cut. Zillow expects prices to rise about 1.6% over the next year. A household needs about $83,830 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $95,372. Typical rent is $1,784 a month, or $2,511 for a house. In the latest IRS figures, 7,720 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$386,707
Change in 1 year
+1.4%
Overvalued %
+0.3%
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Fair home value
$385,535
Change in 5 years
+8.5%
Zillow forecast, next 12 months
+1.6%
Home value to income
4.1×
Monthly mortgage payment (20% down)
$2,096
Income needed to afford it
$83,830
Property tax rate
1.14%
Rent and investing
Typical rent
$1,784
Typical rent for houses
$2,511
Price-to-rent ratio
18.1×
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HUD Fair Market Rent, 2 bedrooms
$1,734
Gross rental yield
5.53%
Cap rate (estimate)
3.60%
Market activity
Listings vs a year ago
+33.0%
Days on market
45
Listings with a price cut
23.0%
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Homes for sale
3,975
Pending sales per 100 listings
26
Asking price per sq ft
$216
People and jobs
Median household income
$95,372
Population change (1 year)
+0.6%
Unemployment rate
4.5%
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Population
1,284,784
Income adjusted for cost of living
$91,004
Net moves in (IRS)
−7,720
Cost of living (US = 100)
104.8
Schools, risk and environment
School rating (1 to 10)
6.4
FEMA hazard risk score (0 to 100)
98.3
Unhealthy air days a year
10
Show 4 more
Flood risk score
98.0
Wildfire risk score
74.9
Walkability (1 to 20)
12.2
Road, rail and air noise
53 dB
Questions people ask
Is Hennepin County, MN overvalued?
Home prices in Hennepin County, MN are slightly above what local incomes have historically supported: fair value is about $385,535, so the area is 0.3% overvalued.
Is Hennepin County, MN a buyer's or seller's market?
Hennepin County, MN is a buyer's market: homes take about 45 days to sell, listings are up 33% from a year ago, 23% of listings have had a price cut.
Are home prices going down in Hennepin County, MN?
Home values in Hennepin County, MN are up 1.4% over the last year. Zillow's forecast for the next 12 months is +1.6%.
How much do you need to earn to buy a home in Hennepin County, MN?
A household needs about $83,830 a year to afford the typical home in Hennepin County, MN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $95,372.