Minneapolis, MN home prices
Typical home $387,807 · +1.7% in a year · income needed $113,500
The Minneapolis, MN metro area ranks 165 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +1.7% in a year and +10.8% over five years. With 20% down at 7.11%, the typical home costs about $2,649 a month including 1.14% property tax (Hennepin County rate).
Mortgage on the typical Minneapolis home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $77,561 | $310,245 | $2,087 | $0 | $562 | $2,649 | $113,500 |
| 10% down | $38,781 | $349,026 | $2,348 | $145 | $562 | $3,056 | $131,000 |
| 5% down | $19,390 | $368,416 | $2,478 | $154 | $562 | $3,194 | $136,900 |
| 3.5% down (FHA) | $13,573 | $380,783 | $2,562 | $172 | $562 | $3,295 | $141,200 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.14% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Minneapolis area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Hennepin County, MN | $386,707 | +1.4% | 1.14% |
| Ramsey County, MN | $334,747 | +1.7% | 1.21% |
| Dakota County, MN | $393,429 | +1.4% | 0.98% |
| Anoka County, MN | $373,109 | +1.6% | 0.94% |
| Washington County, MN | $445,711 | +2.8% | 0.99% |
| Scott County, MN | $442,767 | +1.2% | 1.01% |
| Wright County, MN | $397,588 | +1.2% | 0.98% |
| Carver County, MN | $490,761 | +2.9% | 0.99% |
| Sherburne County, MN | $391,353 | +2.6% | 0.99% |
| Saint Croix County, WI | $415,702 | +2.1% | 1.17% |
| Chisago County, MN | $384,657 | +2.4% | 1.07% |
| Pierce County, WI | $371,522 | +5.1% | 1.36% |
| Isanti County, MN | $339,624 | +2.5% | 1.01% |
| Le Sueur County, MN | $353,278 | +2.6% | 1.06% |
| Mille Lacs County, MN | $309,263 | +1.5% | 1.04% |
What can you afford in Minnesota on your salary? · Minnesota home prices · Salaries in Minnesota
Frequently asked questions
How much is a house in Minneapolis?
The typical home in the Minneapolis, MN metro area is worth $387,807 (Zillow, September 2026).
What salary do you need to buy a house in Minneapolis?
About $113,500 a year for the typical home with 20% down at 7.11%.