Hennepin County, Minnesota Housing Market
In Hennepin County, Minnesota, the median home value is $392,900, with a median monthly rent of $1,487. This places Hennepin County at #307 nationally out of 3134 counties by median home value, and #4 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: $1,788
- Establishments: 43,231
- BLS QCEW, 2025
Housing Supply
- Single-family: 1,523
- Multi-family: 1,968
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 549,197 (avg $130,981)
- Outflow: 546,667 (avg $132,391)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Hennepin County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 55403 | 160.2 | -16.72% | 2025 |
| 2 | 55414 | 229.0 | -8.12% | 2025 |
| 3 | 55404 | 236.0 | +10.33% | 2025 |
| 4 | 55424 | 278.0 | +5.08% | 2025 |
| 5 | 55357 | 218.9 | +4.23% | 2025 |
| 6 | 55356 | 227.3 | +12.56% | 2025 |
| 7 | 55411 | 254.8 | +10.60% | 2025 |
| 8 | 55359 | 250.2 | +6.70% | 2025 |
| 9 | 55340 | 211.4 | +2.76% | 2025 |
| 10 | 55373 | 219.3 | +9.20% | 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 Hennepin County Compares
| Metric | Hennepin County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $392,900 | $238,335 | $227,706 |
| Median Gross Rent | $1,487 | $938 | $968 |
| Owner Occupancy Rate | 62.7% | 77.9% | 73.3% |
| Price/Rent Ratio | 22.0 | 21.1 | 18.7 |
Market Analysis
The median home value in Hennepin County is 64.9% above the Minnesota state average and 72.5% above the U.S. national average. The median rent of $1,487/month is 58.5% above the state average.
With a price-to-rent ratio of 22.0, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Hennepin County has an owner-occupancy rate of 62.7%, compared to 77.9% in Minnesota and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Oldham County | Kentucky | $393,100 | $1,219 |
| Sumner County | Tennessee | $393,100 | $1,424 |
| Madera County | California | $393,200 | $1,390 |
| Ketchikan Gateway Borough | Alaska | $393,300 | $1,505 |
| Colusa County | California | $393,400 | $1,157 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Dakota County | $381,000 | $1,548 | 74.9% |
| Scott County | $419,400 | $1,568 | 83.8% |
| Washington County | $422,000 | $1,710 | 81.3% |
| Sherburne County | $361,400 | $1,127 | 83.2% |
| Wright County | $358,900 | $1,288 | 84.1% |
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).