Hennepin County
Minnesota · Pop. 1,281,565
Ranked #75 of 200 counties
46Moderate
Median Home Price
🏠$360K
3.5% YoY
Median Rent
🔑$1,500
Median Income
💰$78K
Rent Burden
📊28.0%
% of income to rent
Housing Shortage
🏗️18,000
estimated unit deficit
Building Permits (2024)
📋7,500
Price-to-Income Ratio
⚖️4.6x
Homeownership Rate
🏡60.0%
How Hennepin County Compares
| Metric | Hennepin County | Minnesota | National |
|---|---|---|---|
| Home Price | $360K | $329K | $410K |
| Rent | $1,500 | $1,264 | $1,500 |
| Income | $78K | $85K | $75K |
| Rent Burden | 28.0% | 29.0% | 30.0% |
| Homeownership | 60.0% | 72.0% | 65.0% |
Key Takeaways
- • Home prices are 12% below the national average.
- • Rent is about average the national average.
- • The county has an estimated housing shortage of 18,000 units.
- • 7,500 building permits were issued in 2024.
- • Year-over-year home prices changed by 3.5%.