I want to... 🏠 Sell my home | 🗝️ Buy a home | 🗺️ Find a new place to live in Minnesota
💡 Key Minnesota housing market facts
| Data Point | Value | Rank | Compared to National Avg |
| Typical Home Value | $334,119[1] | #25 of 50 states | 8.9% lower |
| Median Listing Price | $387,000[2] | #29 of 50 states | 12.1% lower |
| Median Sale Price | $364,300[3] | #30 of 50 states | 12.9% lower |
| 30 Year Mortgage Rate | 6.94%[4] | #13 of 50 states | 0.5% lower |
| Median Days on Market | 46[5] | #11 of 50 states | 18.1% shorter |
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🗺️ Buying a house in the Minnesota real estate market
Minnesota has an affordability score of 5, meaning it takes 5 years of the median household income ($73,382) to afford Minnesota's median home sale price ($364,300). Because of this, we rank Minnesota as the 12th most affordable state for buyers based strictly on prices compared to income.
| Data Point | Value | Rank | Compared to National Avg |
| Median Sale Price | $364,300[6] | #30 of 50 states | 12.9% lower |
| 30 Year Mortgage Rate | 6.94%[7] | #13 of 50 states | 0.5% lower |
| Median Household Income | $73,382[8] | #13 of 50 states | 13.7% higher |
| Affordability Ratio | 5.0 | #12 of 50 states | 22.3% lower |
| Buyers Agent Commission | 2.62%[9] | #39 of 50 states | 3.2% higher |
Resources for Minnesota home buyers
Preparing to buy in Minnesota
Minnesota home buying costs
🗺️ Selling a house in the Minnesota real estate market
According to our detailed survey of Minnesota real estate agents, listing agents (those representing the seller) charge an average commission in Minnesota of 3.15%, which is the 2nd highest in the United States. Buyers' agents charge an average commission of 2.62%, which is the 12th highest in the United States.
| Data Point | Value | Rank | Compared to National Avg |
| Median Listing Price | $387,000[10] | #29 of 50 states | 12.1% lower |
| Median Sale Price | $364,300[11] | #30 of 50 states | 12.9% lower |
| Median Days on Market | 46[12] | #11 of 50 states | 18.1% shorter |
| Buyer's Agent Commission | 2.62%[13] | #39 of 50 states | 3.2% higher |
| Listing Agent Commission | 3.15%[14] | #49 of 50 states | 15.6% higher |
Resources for Minnesota home sellers
Preparing to sell in Minnesota
- 8 Steps to Selling a House in Minnesota
- Average Time to Sell a House in Minnesota
- When Is the Best Time to Sell a House in Minnesota?
- Top Real Estate Agents in Minnesota
Minnesota home selling costs and requirements
Moving to Minnesota
According to our recent moving trends survey[15], 5% of Americans indicated that they would choose to move to Minnesota if money were no object. Likewise, 5% of survey respondents indicated that they would move to Minneapolis among a choice of America's largest cities.
Here's how Minnesota cities rank in a number of our research studies.
| Study | Best Minnesota city | Rank |
| Best Pizza Cities[16] | Minneapolis | 27th best |
| Best Coffee Cities[17] | Minneapolis | 28th best |
| Best LGBTQ Cities[18] | Minneapolis | 16th best |
| Best Bike Cities[19] | Minneapolis | best |
| Best Commuter Cities[20] | Minneapolis | 9th best |