Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Minneapolis area can be challenging. Home prices in Minneapolis are now at a median cost of $316,867, higher than the Minnesota average of $269,934.
The average cost of rent is $1,366/mo in Minneapolis, primarily driven by the current value of real estate in the Minneapolis area. While nearly 30.38% of residents own their homes outright in Minneapolis, 24.98% rent.
Housing affordability isn’t just about home prices, though. The average household income in Minneapolis is $8,358 per month. Households that rent pay about 16.35% of their income on rent here. Minneapolis's most expensive areas are in the northwestern regions, while the cheapest areas are in the southeastern parts of the city.
Nearby Cities
- Lauderdale, MN: less expensive homes
- St. Louis Park, MN: equally priced homes
- Golden Valley, MN: equally priced homes
- Falcon Heights, MN: equally priced homes
- St. Anthony, MN: less expensive homes
- Robbinsdale, MN: less expensive homes
- Columbia Heights, MN: less expensive homes
- Richfield, MN: less expensive homes
- Hilltop, MN: less expensive homes
- Edina, MN: higher priced homes
Cities with Similar Populations
- Edinburg, TX: less expensive homes
- Edmond, OK: equally priced homes
- Elkhart, IN: less expensive homes
- Ellicott City, MD: higher priced homes
- Elk Grove, CA: higher priced homes
- Eau Claire, WI: less expensive homes
- El Monte, CA: higher priced homes
- Easton, PA: less expensive homes
- Elgin, IL: less expensive homes
- El Paso, TX: less expensive homes
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