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State

Data from November 2026

Housing , home prices, rents and assistance in Minnesota (2026)

A typical home in Minnesota is worth $329,300; the typical rent is $1,280 a month. Depending on the county, the FHA limit for a one-unit home is between $541,287 and $552,000. 33 HUD-approved counseling agencies serve Minnesota; 12 say they serve you in Spanish.

Most populous:

Typical home value by county

  • Under $164,400
  • $164,400–$207,700
  • $207,700–$246,100
  • $246,100–$291,000
  • $291,000 or more

Tap the map to see each county’s figure and open its page.

Typical home value
$329,300
1% less than the U.S.
U.S.: $332,700
Typical rent per month
$1,280
9% less than the U.S.
U.S.: $1,413
Typical household income
$89,062
10% more than the U.S.
U.S.: $80,734
FHA limit, 1 unit
$541,287 to $552,000
It changes by county. The highest applies in 13 counties.
U.S.: $541,287 to $1,299,500
Property tax
1.02%
of value a year
The typical bill is $3,357 a year.
U.S.: 0.94%

Source: American Community Survey (ACS) 5-year estimates Average 2020–2024 American Community Survey (ACS) 5-year estimates Source: FHA mortgage limits (HUD) Data from 2026 data FHA mortgage limits (HUD)

In short

Living in Minnesota

In Minnesota, a typical home is worth $329,300, about the same as in the United States overall. Across its 87 counties, the typical value runs from $114,100 in Traverse County to $453,600 in Carver County. A typical household earns $89,062 a year and pays $1,280 a month in rent; 48% of renters put 30% or more of their income toward housing. 72% of households live in a home they own; they pay a typical property tax of $3,357 a year, about 1.02% of value.

The conforming loan limit for a one-unit home is $832,750 across Minnesota. To pay HUD’s fair rent for a 2-bedroom apartment in Minnesota ($1,507) without spending more than 30% of income, you need about $28.98 an hour working full time.

Source: Conforming loan limits (FHFA) Data from 2026 data Conforming loan limits (FHFA) Source: Fair Market Rents (HUD) Fiscal year 2027 Fair Market Rents (HUD)

The essentials in Minnesota

More on property tax

  • Homestead market value exclusion

    If the home is your principal residence and you register it as a homestead, part of its value is excluded from tax: 40 percent of value for homes worth $95,000 or less; for homes between $95,000 and $517,200, the exclusion is $38,000 minus 9 percent of the value over $95,000; at $517,200 or more there is no exclusion.

    Minnesota Office of the Revisor of Statutes (Minnesota Statutes) · Verified October 23, 2026

  • Homestead classification: apply by December 31 (with a Social Security number or ITIN)

    To get homestead classification you must own the property, live in it as your sole or primary residence and be a Minnesota resident. You apply to the county assessor by December 31 for taxes payable the next year. You must give the Social Security number or Individual Taxpayer Identification Number (ITIN) of every owner who lives there and of each owner's spouse, even one who does not live there. Once granted, you do not need to reapply.

    Minnesota Department of Revenue · Verified October 31, 2026

  • Market value exclusion for veterans with a disability

    This program lowers your home's market value for tax purposes, which may lower your tax. There are two levels: $300,000 for veterans with a 100 percent permanent and total disability rating, and $150,000 for a 70 percent or greater service-connected rating. The veteran must be honorably discharged and own and occupy a homesteaded property on December 31. You apply to the county assessor by December 31.

    Minnesota Department of Revenue · Verified October 31, 2026

  • Homeowner's Homestead Credit Refund (Form M1PR)

    The Homestead Credit Refund helps homeowners who pay property tax. To qualify you must own and live in the home, have it classified as a homestead with your county and pay (or arrange to pay) the tax. The regular refund depends on your income and tax; for 2025 you had to own and live in the home on January 2, 2026 and have 2025 household income under $142,490. There is also a special refund if your tax went up more than 12 percent.

    Minnesota Department of Revenue · Verified October 31, 2026

  • Appealing the value to the local and county boards or to Tax Court

    Before appealing, contact your county assessor; most questions are resolved with a phone call. If you still disagree, you can appeal to the Local Board of Appeal and Equalization (meetings between April 1 and May 31; your Valuation Notice has the details) and then the County Board (in June). You can also go straight to Minnesota Tax Court by April 30 of the following year.

    Minnesota Department of Revenue · Verified October 31, 2026

  • State deed tax

    When the deed is recorded the tax is 0.33 percent of the net consideration when the price is over $3,000 (if it is $3,000 or less, a flat $1.65). Some metro counties charge a small additional tax.

    Minnesota Office of the Revisor of Statutes (Minnesota Statutes) · Verified October 23, 2026

The homes here

Housing in Minnesota

What homes there are in Minnesota, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Minnesota, 7 in 10 homes are single-family detached houses; in the U.S., 6.

Year built

In Minnesota, half of the homes were built before 1979; in the U.S., before 1980.

By size, homes in Minnesota look like those in the U.S.: 61% have 3 bedrooms or more.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The largest group of owner-occupied homes in Minnesota is worth between $300K and $500K: 37%.

Monthly rent with utilities

The largest group of rented homes in Minnesota pays between $1,000 and $1,499 a month: 34%.

With a mortgage

$1,947 a month

United States: $1,963 a month

Without a mortgage

$698 a month

United States: $638 a month

Owners with a mortgage

64%

United States: 61%

In Minnesota, 64% of owners have a mortgage; their typical cost is $1,947 a month, about the same as in the U.S..

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Minnesota rose 47% since 2015–2019, less than in the U.S. (53%).

Much as in the U.S., the typical rent in Minnesota rose 31% since 2015–2019.

The typical household income in Minnesota rose 25%: less than home values (+47%) and rent (+31%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureMinnesotaUnited States
Rental vacancy 5.3%5.5%
Homeowner vacancy 0.6%0.9%
More than one person per room 2.3%3.4%
People per household 2.432.53
Drive alone 69%69%
Carpool 8%9%
Public transit 2%3%
Walk or bike 3%3%
Work from home 18%15%
Other means 1%2%
Typical commute 20 to 29 minutes20 to 29 minutes

Open rentals in Minnesota look like those in the U.S.: the rental vacancy rate is 5.3%.

In Minnesota, 2.3% of households live with more than one person per room, against 3.4% in the U.S..

Much as in the U.S., a household in Minnesota has 2.43 people on average.

In Minnesota, 69% of workers drive alone to work; in the U.S., 69%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Places

Explore the counties in Minnesota

Sort by any column or type a name. The 25 most populous are shown; the button reveals the rest.

See the counties page

Source: American Community Survey (ACS) 5-year estimates Average 2020–2024 American Community Survey (ACS) 5-year estimates Source: FHA mortgage limits (HUD) Data from 2026 data FHA mortgage limits (HUD) Source: Fair Market Rents (HUD) Fiscal year 2027 Fair Market Rents (HUD)

Calculator

Work out your payment in Minnesota

Start from the typical home value in Minnesota, $329,300, and this week’s average rate. Move the price and the down payment to see your monthly payment. If you already visited a county, the calculator uses its numbers.

More math for Minnesota

$
%

Estimated monthly payment

$2,753

FHA loan over 30 years, with estimated taxes and insurance.

See the full calculation

Prices and risks

Three official measures that help you decide: how much home prices have changed according to FHFA, how prices compare with the national average according to BEA, and how many homes sit in a flood zone according to FEMA.

Home prices

How have home prices changed?

According to the FHFA House Price Index, home prices in Minnesota rose 71% in the 10 years through 2025.

Price change each year

Period Minnesota United States
In 2025 +2.8% +2.9%
5 years (2020–2025) +37% +47%
10 years (2015–2025) +71% +85%

The index follows the prices of the same homes over time (sales and appraisals on loans bought or guaranteed by Fannie Mae and Freddie Mac). It is not the average price of a home. FHFA considers its annual state indexes experimental.

Source: FHFA House Price Index (HPI) Data from 2025 data FHFA House Price Index (HPI)

Cost of living

How expensive are prices here?

According to the Bureau of Economic Analysis (BEA), in 2024 prices in Minnesota were 1% lower than the U.S. average. Housing rents were 9% lower than nationwide.

Category Minnesota United States Versus the U.S.
All prices Consumer goods and services 98.6 100.0 1% less
Housing rents What renters pay 91.3 100.6 9% less
Water, power and gas Water, sewer, electricity and gas 90.8 98.4 8% less
Goods Food, clothing, transportation and more 100.5 99.6 1% more
Other services Services other than rent 100.2 100.1 about the same

BEA expresses each index as a percentage of the average U.S. price level: a higher number means higher prices, and a lower one, lower prices.

Source: Regional price parities (BEA) Data from 2024 data Regional price parities (BEA)

Flooding

Is there a flood risk?

According to FEMA, in Minnesota 0.7% of homes (16,708) are in a high-risk flood zone. Of those homes, 17% have NFIP flood insurance.

  • A high-risk zone (Special Flood Hazard Area) has a 1% or greater chance of flooding each year. 44 CFR 59.1
  • If the home is in that zone and the loan comes from a regulated lender, federal law requires flood insurance for the life of the loan, in communities that take part in the NFIP. 42 U.S.C. 4012a
  • Most homeowners insurance does not cover flood damage. FEMA, FloodSmart
Minnesota United States
Homes in a high-risk zone 0.7% 3.5%
Of those, with NFIP insurance 17% 48%
All homes with NFIP insurance 0.2% 2.9%

The NFIP is the federal flood insurance program; private policies are not counted. FEMA counts homes with its National Structure Inventory. We add up the county figures FEMA publishes.

Look up your address on FEMA’s map Source: Homes with flood insurance (NFIP, FEMA) As of August 3, 2026 Homes with flood insurance (NFIP, FEMA)

Places

Cities in Minnesota

The 16 most populous cities with a page. Each one compares its prices and rents with its county.

See the other cities (136)

    Help to buy

    Assistance programs in Minnesota

    Our list has 2 official programs that help you buy in Minnesota. Each card says what kind of help it gives and when we checked its official page.

    See all 2 programs
    1. Deferred Payment Loan (Start Up)

      Minnesota state agency loan for the down payment and closing costs alongside the Start Up mortgage for first-time buyers: up to $14,000 (or $18,000 in the Plus version), with no interest or monthly payments, repaid at the end of the mortgage. Offered by Minnesota Housing (Minnesota Housing Finance Agency).

      Deferred Verified November 5, 2026

    2. Monthly Payment Loan

      Minnesota Housing loan of up to $14,000 for the down payment and closing costs, which you repay over 15 years at the same rate as your Minnesota Housing mortgage; it works with Start Up (first-time buyers) or Step Up. Offered by Minnesota Housing (Minnesota Housing Finance Agency).

      Repayable Verified November 5, 2026

    Tenant rights

    Tenant rights in Minnesota

    Minnesota law answers 5 of these 5 questions, each answer with its citation. Where it says “Data not available”, we have not verified it against the source yet.

    A summary of state law, not legal advice. Cities may have additional rules.

    See every right

    1. How much can they charge for a deposit?

      Minnesota law sets no maximum for the security deposit. Section 504B.178 governs the interest the deposit earns, how it may be withheld and how it is returned, but caps no amount.

      Minn. Stat. §504B.178, subd. 1

    2. When must they return my deposit?

      Within three weeks after the tenancy ends (and after you give your address), the landlord must return the deposit with interest or give you a written statement of the specific reason for withholding any of it. Only rent owed and the cost of restoring the unit, ordinary wear excepted, may be withheld.

      Minn. Stat. §504B.178, subd. 3(a)

    3. If I fall behind on rent, what notice must I get?

      Before suing for unpaid rent, the landlord must give you a written notice with the total due, an itemized accounting, who to pay, the legal-help and financial-help contacts, and the statement that a case may be filed if you do not pay or move out within 14 days of the notice date. Some cities require more days.

      Minn. Stat. §504B.321, subd. 1a(a)

    4. How much notice ends a month-to-month rental?

      A tenancy at will (no fixed term) ends by written notice from either party. The notice must be at least as long as the interval between rent payments (one month if you pay monthly) or three months, whichever is less.

      Minn. Stat. §504B.135

    5. Are there limits on late fees?

      A landlord may charge a late fee only if you and the landlord agreed to it in writing, and the agreement must say when it is imposed. The fee can never exceed 8 percent of the overdue rent payment.

      Minn. Stat. §504B.177(a)

    A man and two girls read a book together on the sofa.

    Help and advice

    Who can help you in Minnesota?

    You do not have to do this alone. A HUD-approved housing counselor gives independent advice on buying, renting, late payments and credit, often free or at low cost.

    33 HUD-approved counseling agencies serve Minnesota; 12 say they serve you in Spanish. Choose your county to see the closest ones with their phone number.

    135 public housing authorities run Section 8 vouchers and public housing in Minnesota.

    See all 33 agencies See the housing agencies

    Who runs the help in Minnesota

    • Minnesota Housing Finance Agency (Minnesota Housing)

      Minnesota Housing offers loans for first-time and repeat buyers through participating lenders statewide. Its Start Up program is for someone who has not owned a principal residence in the last three years. It offers down payment and closing cost loans of up to $18,000. At least one borrower must take an approved homebuyer education course before closing.

      The agency's official page · Verified October 31, 2026

    Where to file a complaint in Minnesota

    • Discrimination charge with the Minnesota Commissioner of Human Rights: 1 year

      A claim of an unfair discriminatory practice is brought as a civil action, as a charge with a local commission or as a charge with the commissioner of human rights, within one year after the practice occurred.

      Minnesota Office of the Revisor of Statutes (Minnesota Statutes) · Verified October 31, 2026

    • What Minnesota law adds to federal fair housing law

      The Minnesota Human Rights Act bars refusing to sell, rent or lease property, or discriminating in its terms, because of race, color, creed, religion, national origin, sex, gender identity, marital status, status with regard to public assistance, disability, sexual orientation or familial status.

      Minnesota Office of the Revisor of Statutes (Minnesota Statutes) · Verified October 31, 2026

    • Minnesota FAIR plan for owners rejected in the private market

      If you were canceled, nonrenewed or otherwise rejected for property coverage in the private market, you can apply to the Minnesota FAIR plan. If the property is inspected, the inspection is free. Before denying coverage because of the property's condition, the plan must inspect it.

      Minnesota Office of the Revisor of Statutes (Minnesota Statutes) · Verified October 31, 2026

    Guides

    Guides for you in Minnesota

    We picked them with the numbers of Minnesota. Each one says why it can help you.

    Frequently asked questions about housing in Minnesota

    What is the FHA limit in Minnesota in 2026?

    In Minnesota, the FHA limit for a one-unit home runs from $541,287 to $552,000. The highest is in Anoka County.

    How much does a typical home cost in Minnesota?

    The typical home value in Minnesota is $329,300 (Average 2020–2024, U.S. Census). The highest is in Carver County ($453,600) and the lowest in Traverse County ($114,100).

    How much does it cost to rent in Minnesota?

    The typical rent in Minnesota is $1,280 a month (Average 2020–2024, U.S. Census).

    How much do you need to earn to rent a 2-bedroom apartment in Minnesota?

    At HUD's average fair market rent in Minnesota ($1,507, Fiscal year 2027), about $28.98 an hour working full time, so rent stays under 30% of income.

    How much is property tax in Minnesota?

    The typical property tax in Minnesota is $3,357 a year, about 1.02% of home value (Average 2020–2024, U.S. Census).

    Where can I find free help in Spanish to buy a home in Minnesota?

    There are 33 HUD-approved counseling agencies in Minnesota; 12 say they serve you in Spanish. Each county page lists the closest ones with their phone number.

    Sources: American Community Survey (Average 2020–2024); FHA mortgage limits (2026 data); Conforming loan limits (2026 data); Fair Market Rents (Fiscal year 2027); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (Retrieved November 6, 2026); FHFA House Price Index (2025 data); Homes with flood insurance (As of August 3, 2026); Regional price parities (2024 data); Census Bureau cartographic boundary files (2024 data).