What is the average cost of housing in Minneapolis?
Question & Answer about Minnesota
Updated April 26, 2026
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Minnesota State Facts
State Flag
Minnesota
Capital
Saint Paul
State Bird
Common Loon
Statehood
May 11, 1858
State Flower
Pink-White Lady Slipper
Population
5.7 million (2020)
Answer
The average cost of housing in Minneapolis as of 2026 varies depending on the type of property, but generally, the median home price is around $350,000. This figure reflects the combined costs of single-family homes, condos, and townhouses in the city and has been influenced by steady demand and limited inventory in the Minneapolis housing market.
Minneapolis, as the largest city in Minnesota, has a diverse real estate market with neighborhoods ranging from affordable to upscale. Prices tend to be higher in popular areas such as Uptown, North Loop, and Linden Hills, where amenities and proximity to downtown are major draws. The rental market also remains competitive, with average rents for a one-bedroom apartment typically ranging from $1,200 to $1,600 per month depending on location and building quality. The city’s climate, economic growth, and job opportunities contribute to ongoing interest in housing, keeping prices relatively stable but on a gradual upward trend.
Key Points:
- The median home price in Minneapolis is approximately $350,000 as of 2026, reflecting a mix of housing types across the city.
- Neighborhoods like Uptown and North Loop tend to have higher housing costs due to their desirable locations and amenities.
- Average rents for one-bedroom apartments
Minneapolis, as the largest city in Minnesota, has a diverse real estate market with neighborhoods ranging from affordable to upscale. Prices tend to be higher in popular areas such as Uptown, North Loop, and Linden Hills, where amenities and proximity to downtown are major draws. The rental market also remains competitive, with average rents for a one-bedroom apartment typically ranging from $1,200 to $1,600 per month depending on location and building quality. The city’s climate, economic growth, and job opportunities contribute to ongoing interest in housing, keeping prices relatively stable but on a gradual upward trend.
Key Points:
- The median home price in Minneapolis is approximately $350,000 as of 2026, reflecting a mix of housing types across the city.
- Neighborhoods like Uptown and North Loop tend to have higher housing costs due to their desirable locations and amenities.
- Average rents for one-bedroom apartments
