Dakota County, Minnesota Housing Market
In Dakota County, Minnesota, the median home value is $381,000, with a median monthly rent of $1,548. This places Dakota County at #337 nationally out of 3134 counties by median home value, and #5 within Minnesota.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,433
- Establishments: 11,646
- BLS QCEW, 2025
Housing Supply
- Single-family: 1,378
- Multi-family: 952
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 192,193 (avg $105,727)
- Outflow: 187,136 (avg $107,138)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Dakota County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 55089 | 186.6 | -18.92% | 2024 |
| 2 | 55031 | 213.3 | -5.19% | 2025 |
| 3 | 55057 | 214.0 | +4.60% | 2025 |
| 4 | 55306 | 211.7 | +3.91% | 2025 |
| 5 | 55075 | 212.2 | -1.43% | 2025 |
| 6 | 55033 | 216.8 | +3.57% | 2025 |
| 7 | 55118 | 219.4 | +0.52% | 2025 |
| 8 | 55009 | 213.8 | -0.19% | 2025 |
| 9 | 55123 | 211.9 | +0.23% | 2025 |
| 10 | 55024 | 212.4 | +2.14% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Dakota County Compares
| Metric | Dakota County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $381,000 | $238,335 | $227,706 |
| Median Gross Rent | $1,548 | $938 | $968 |
| Owner Occupancy Rate | 74.9% | 77.9% | 73.3% |
| Price/Rent Ratio | 20.5 | 21.1 | 18.7 |
Market Analysis
The median home value in Dakota County is 59.9% above the Minnesota state average and 67.3% above the U.S. national average. The median rent of $1,548/month is 65.0% above the state average.
With a price-to-rent ratio of 20.5, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Dakota County has an owner-occupancy rate of 74.9%, compared to 77.9% in Minnesota and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Gwinnett County | Georgia | $380,900 | $1,810 |
| Curry County | Oregon | $381,300 | $1,241 |
| Custer County | Idaho | $381,700 | $691 |
| Lower Connecticut River Valley Planning Region | Connecticut | $379,700 | $1,454 |
| Virginia Beach city | Virginia | $382,500 | $1,714 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Hennepin County | $392,900 | $1,487 | 62.7% |
| Sherburne County | $361,400 | $1,127 | 83.2% |
| Wright County | $358,900 | $1,288 | 84.1% |
| Chisago County | $351,900 | $1,186 | 85.9% |
| Anoka County | $346,500 | $1,464 | 80.2% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).