Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$387,807+1.7% YoY · prices are rising
Market right nowBuyer's marketMore homes for sale than last year, 24% have cut their price
Income needed to buy, per year$84,068About 0.9× the local median income ($98,877): affordable for a typical household
Days on market43 daysAbout the same pace as a year ago
Next 12 months+1.6%Zillow expects prices to rise slightly
The typical home in Minneapolis-St. Paul-Bloomington, MN-WI is worth $387,807, up 1.7% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $368,910, so the area is 5.1% overvalued. It is a buyer's market: homes take about 43 days to sell, listings are up 33% from a year ago, 24% of listings have had a price cut. Zillow expects prices to rise about 1.6% over the next year. A household needs about $84,068 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 $98,877. Typical rent is $1,736 a month, or $2,443 for a house. In the latest IRS figures, 4,204 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
$387,807
Change in 1 year
+1.7%
Overvalued %
+5.1%
Show 7 more
Fair home value
$368,910
Change in 5 years
+10.8%
Zillow forecast, next 12 months
+1.6%
Home value to income
3.9×
Monthly mortgage payment (20% down)
$2,102
Income needed to afford it
$84,068
Property tax rate
1.06%
Rent and investing
Typical rent
$1,736
Typical rent for houses
$2,443
Price-to-rent ratio
18.6×
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HUD Fair Market Rent, 2 bedrooms
$1,725
Gross rental yield
5.37%
Cap rate (estimate)
3.49%
Market activity
Listings vs a year ago
+32.7%
Days on market
43
Listings with a price cut
23.8%
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Homes for sale
11,535
Pending sales per 100 listings
28
Asking price per sq ft
$204
People and jobs
Median household income
$98,877
Population change (1 year)
+0.8%
Unemployment rate
4.1%
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Population
3,790,295
Income adjusted for cost of living
$94,348
Net moves in (IRS)
−4,204
Cost of living (US = 100)
104.8
Schools, risk and environment
School rating (1 to 10)
6.6
FEMA hazard risk score (0 to 100)
85.7
Unhealthy air days a year
9
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Flood risk score
86.8
Wildfire risk score
62.5
Walkability (1 to 20)
10.2
Road, rail and air noise
53 dB
Questions people ask
Is Minneapolis-St. Paul-Bloomington, MN-WI overvalued?
Home prices in Minneapolis-St. Paul-Bloomington, MN-WI are slightly above what local incomes have historically supported: fair value is about $368,910, so the area is 5.1% overvalued.
Is Minneapolis-St. Paul-Bloomington, MN-WI a buyer's or seller's market?
Minneapolis-St. Paul-Bloomington, MN-WI is a buyer's market: homes take about 43 days to sell, listings are up 33% from a year ago, 24% of listings have had a price cut.
Are home prices going down in Minneapolis-St. Paul-Bloomington, MN-WI?
Home values in Minneapolis-St. Paul-Bloomington, MN-WI are up 1.7% 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 Minneapolis-St. Paul-Bloomington, MN-WI?
A household needs about $84,068 a year to afford the typical home in Minneapolis-St. Paul-Bloomington, MN-WI at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $98,877.