Minneapolis-St. Paul
Minnesota · Ranked #287 of 373 metros
55Moderate
💡
Housing in Minneapolis-St. Paul costs 3.89× the median income, below the national average of 4.5×. The median home price is $370K and median rent is $1,427/month. Minneapolis-St. Paul ranks #287 of 373 metros for affordability.
Median Home Price
🏠$370K
Need $103K income
Median Rent
🔑$1,427
Need $54K income
Housing Shortage
📉40,000
units needed
Building Permits
🔨16,000
annual
Median Income
💰$95K
Pop: 3,690,512
Rent Burden
⚠️29.0%
of renters paying >30%
Price Change (YoY)
📈+3%
Homeownership
🏡70.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Minneapolis-St. Paul | National |
|---|---|---|
| Price-to-Income Ratio | 3.89x | 6.1x |
| Rent Burden | 29.0% | 31.5% |
| Homeownership Rate | 70.0% | 65.5% |
| YoY Price Change | +3% | +3.5% |
| YoY Rent Change | +2.5% | +2.8% |
| Mortgage Denial Rate | 11.0% | 13.5% |
| Eviction Rate | 4.0% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +41.3%Since 2000: +139.6%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$1,242/mo
1 Bedroom$1,405/mo
2 Bedroom$1,709/mo
3 Bedroom$2,262/mo
4 Bedroom$2,531/mo
Zillow Market Data
Home Value (ZHVI)
$381K
1yr: +1.7%5yr: +19.0%
Rent (ZORI)
$1,664/mo
1yr: +4.0%5yr: +20.9%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$288K
Active Inventory
1,835
Days on Market
48
Sold Above List
25.1%
Price Drops
34.2%