Minneapolis, Minnesota Real Estate Market Analysis

dynamic.RE

Minneapolis, Minnesota

50 ZIPs in this city:55401 55402 55403 55404 55405 55406 55407 55408 55409 55410 55411 55412 55413 55414 55415 55416 55417 55418 55419 55420 55421 55422 55423 55424 55425 55426 55427 55428 55429 55430 55431 55432 55433 55434 55435 55436 55437 55438 55439 55440 55441 55442 55443 55444 55445 55446 55447 55448 55449 55450

Market Hotness

Hotness Rank

Hotness Score

Supply Score

Demand Score

DOM vs US

-18.7%

Faster

Price vs US

98%

Below avg

Median Listing Price

$355K

Population

1,117,320

Households

473,782

Median Days on Market

Active Listings

New Listings

Housing Market

Pricing

Median Listing Price

$355K-16.4% YoY

Average Listing Price

$355K-34.5% YoY

Price per Sq Ft

$333+44.5% YoY

Median Sq Ft

1,066-40.3% YoY

Inventory

Active Listings

1-99.9% YoY

New Listings

0-100.0% YoY

Total Listings

1-100.0% YoY

Buyer Competition

Pending Listings

---- YoY

Pending Ratio

---- YoY

Median Days on Market

12-70.2% YoY

Price Reduced

0.0%-100.0% YoY

Units & Occupancy

2024 Occupancy

572Kunits

Occupied539,49394.4%
Vacant32,0345.6%

2024 Tenure

539Koccupied

Owner338,26362.7%
Renter201,23037.3%

Renter Share

37.3%+0.7% YoY

Total Housing Units

571,527+1.3% YoY

FY2026 Fair Market Rent — Hennepin County

HUD government estimate (40th percentile) — not actual market asking rent.

Studio

$1,242

/month

1 BR

$1,405

/month

2 BR

$1,709

/month

3 BR

$2,262

/month

4 BR

$2,531

/month

FMR Trends — Hennepin County

Source: HUD Fair Market Rents

ZIP Profile

U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.

Population & Age

Total Population

1,117,3200.0% YoY

2024 Age Mix

1.1Mresidents

Under 18239,35521.4%
Adults 18–64710,44963.6%
65 & Over167,51615.0%

Age Composition Over Time2019–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Median Age

37.17+0.2% YoY

Population Under 18

239,355-0.8% YoY

Population 65 & Over

167,516+2.7% YoY

Households & Mobility

Total Households

473,782+0.9% YoY

Household Types

--Not reported for this area (ACS).

Avg Household Size

2.31-0.9% YoY

2024 Residential Mobility

of residents

Same house84.9%
Moved (within US)14.5%
Other0.6%

Veterans

4.6%-4.2% YoY

Income & Poverty

Median Household Income

$95K+2.0% YoY

Per-Capita Income

$53K+3.4% YoY

Mean Household Income

$124K+2.7% YoY

Below Poverty Level

11.0%-0.3% YoY

Commuting

2024 Commute Mode

of workers

Drove alone61.4%
Public transit3.7%
Worked from home22.9%
Other12.0%

Worked From Home

22.9%+12.6% YoY

Mean Commute

21.86-2.4% YoY

Units & Tenure

Total Housing Units

502,016+1.4% YoY

2024 Occupancy

502Kunits

Occupied473,78294.4%
Vacant28,2345.6%

2024 Tenure

474Khouseholds

Owner288,79261.0%
Renter184,99039.0%

Avg Household Size — Owner

2.52-0.8% YoY

Avg Household Size — Renter

2.00-1.1% YoY

County Demographics

Median Age

37.62024

Population

Hennepin County Population

1,273,334+0.8% YoY

Households

Total Households

539,493+0.9% YoY

Household Types

--Not reported for this area (ACS).

Avg Household Size

2.30-0.9% YoY

Age

2024 Age Mix

1.3Mresidents

Under 18274,24821.6%
Adults 18–64797,19762.8%
65 & Over198,05115.6%

Age Composition Over Time2017–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Population Under 18

274,248-0.8% YoY

Population 65 & Over

198,051+3.3% YoY

Median Age

37.60+0.5% YoY

Mobility & Veterans

2024 Residential Mobility

of residents

Same house85.0%
Moved (within US)14.4%
Other0.6%

Veterans

4.5%-4.3% YoY

County Economy

Income

Median Household Income

$98K+1.4% YoY

Per-Capita Income

$59K+3.1% YoY

Mean Household Income

$138K+2.3% YoY

Poverty

Below Poverty Level

10.0%0.0% YoY

Transportation to Work

2024 Commute Mode

of workers

Drove alone60.0%
Public transit3.5%
Worked from home25.2%
Other11.3%

Worked From Home

25.2%+12.5% YoY

Mean Commute

21.90-2.2% YoY

Minneapolis, Minnesota

Market Hotness

Hotness Rank

Hotness Score

Supply Score

Demand Score

DOM vs US

-18.7%

Faster

Price vs US

98%

Below avg

Median Listing Price

$355K

Population

1,117,320

Households

473,782

Median Days on Market

Active Listings

New Listings

Housing Market

Pricing

Median Listing Price

$355K-16.4% YoY

Average Listing Price

$355K-34.5% YoY

Price per Sq Ft

$333+44.5% YoY

Median Sq Ft

1,066-40.3% YoY

Inventory

Active Listings

1-99.9% YoY

New Listings

0-100.0% YoY

Total Listings

1-100.0% YoY

Buyer Competition

Pending Listings

---- YoY

Pending Ratio

---- YoY

Median Days on Market

12-70.2% YoY

Price Reduced

0.0%-100.0% YoY

Units & Occupancy

2024 Occupancy

572Kunits

Occupied539,49394.4%
Vacant32,0345.6%

2024 Tenure

539Koccupied

Owner338,26362.7%
Renter201,23037.3%

Renter Share

37.3%+0.7% YoY

Total Housing Units

571,527+1.3% YoY

FY2026 Fair Market Rent — Hennepin County

HUD government estimate (40th percentile) — not actual market asking rent.

Studio

$1,242

/month

1 BR

$1,405

/month

2 BR

$1,709

/month

3 BR

$2,262

/month

4 BR

$2,531

/month

FMR Trends — Hennepin County

Source: HUD Fair Market Rents

ZIP Profile

U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.

Population & Age

Total Population

1,117,3200.0% YoY

2024 Age Mix

1.1Mresidents

Under 18239,35521.4%
Adults 18–64710,44963.6%
65 & Over167,51615.0%

Age Composition Over Time2019–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Median Age

37.17+0.2% YoY

Population Under 18

239,355-0.8% YoY

Population 65 & Over

167,516+2.7% YoY

Households & Mobility

Total Households

473,782+0.9% YoY

Household Types

--Not reported for this area (ACS).

Avg Household Size

2.31-0.9% YoY

2024 Residential Mobility

of residents

Same house84.9%
Moved (within US)14.5%
Other0.6%

Veterans

4.6%-4.2% YoY

Income & Poverty

Median Household Income

$95K+2.0% YoY

Per-Capita Income

$53K+3.4% YoY

Mean Household Income

$124K+2.7% YoY

Below Poverty Level

11.0%-0.3% YoY

Commuting

2024 Commute Mode

of workers

Drove alone61.4%
Public transit3.7%
Worked from home22.9%
Other12.0%

Worked From Home

22.9%+12.6% YoY

Mean Commute

21.86-2.4% YoY

Units & Tenure

Total Housing Units

502,016+1.4% YoY

2024 Occupancy

502Kunits

Occupied473,78294.4%
Vacant28,2345.6%

2024 Tenure

474Khouseholds

Owner288,79261.0%
Renter184,99039.0%

Avg Household Size — Owner

2.52-0.8% YoY

Avg Household Size — Renter

2.00-1.1% YoY

County Demographics

Median Age

37.62024

Population

Hennepin County Population

1,273,334+0.8% YoY

Households

Total Households

539,493+0.9% YoY

Household Types

--Not reported for this area (ACS).

Avg Household Size

2.30-0.9% YoY

Age

2024 Age Mix

1.3Mresidents

Under 18274,24821.6%
Adults 18–64797,19762.8%
65 & Over198,05115.6%

Age Composition Over Time2017–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Population Under 18

274,248-0.8% YoY

Population 65 & Over

198,051+3.3% YoY

Median Age

37.60+0.5% YoY

Mobility & Veterans

2024 Residential Mobility

of residents

Same house85.0%
Moved (within US)14.4%
Other0.6%

Veterans

4.5%-4.3% YoY

County Economy

Income

Median Household Income

$98K+1.4% YoY

Per-Capita Income

$59K+3.1% YoY

Mean Household Income

$138K+2.3% YoY

Poverty

Below Poverty Level

10.0%0.0% YoY

Transportation to Work

2024 Commute Mode

of workers

Drove alone60.0%
Public transit3.5%
Worked from home25.2%
Other11.3%

Worked From Home

25.2%+12.5% YoY

Mean Commute

21.90-2.2% YoY