Cities with the fastest-growing home prices in Minnesota

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December 23, 2024
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Cities with the fastest-growing home prices in Minnesota

The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties.

The typical home value in the United States was $358,761 in November, 2.3% higher than the year before.

Increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to the year before.

Stacker compiled a list of cities with the fastest-growing home prices in Minnesota using data from Zillow. Cities are ranked by the dollar change in the Zillow Home Values Index for all homes from the 12 months ending November 2024. The charts in this story were created automatically using Matplotlib. Data was available for 50 cities and towns in Minnesota.

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1 / 50
Stacker

#50. Spicer

- Typical home value: $376,362
- 1-year price change: +$18,574 (+5.2%)
- 5-year price change: +$116,881 (+45.0%)
- Metro area: Willmar, MN

2 / 50
Stacker

#49. Erskine

- Typical home value: $285,838
- 1-year price change: +$18,639 (+7.0%)
- 5-year price change: +$89,856 (+45.8%)
- Metro area: Grand Forks, ND-MN

3 / 50
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#48. Madison Lake

- Typical home value: $420,870
- 1-year price change: +$18,718 (+4.7%)
- 5-year price change: +$118,343 (+39.1%)
- Metro area: Mankato, MN

4 / 50
Stacker

#47. Swanville

- Typical home value: $331,749
- 1-year price change: +$18,887 (+6.0%)
- 5-year price change: +$121,770 (+58.0%)
- Metro area: not in a metro area

5 / 50
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#46. Gully

- Typical home value: $301,066
- 1-year price change: +$19,223 (+6.8%)
- 5-year price change: +$98,092 (+48.3%)
- Metro area: Grand Forks, ND-MN

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6 / 50
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#45. Kellogg

- Typical home value: $341,339
- 1-year price change: +$19,227 (+6.0%)
- 5-year price change: +$101,716 (+42.4%)
- Metro area: Rochester, MN

7 / 50
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#44. Silver Bay

- Typical home value: $169,611
- 1-year price change: +$19,573 (+13.0%)
- 5-year price change: +$74,266 (+77.9%)
- Metro area: Duluth, MN-WI

8 / 50
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#43. Avon

- Typical home value: $379,167
- 1-year price change: +$19,786 (+5.5%)
- 5-year price change: +$122,075 (+47.5%)
- Metro area: St. Cloud, MN

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#42. Tofte

- Typical home value: $423,824
- 1-year price change: +$19,934 (+4.9%)
- 5-year price change: +$133,306 (+45.9%)
- Metro area: not in a metro area

10 / 50
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#41. Hendricks

- Typical home value: $189,136
- 1-year price change: +$19,999 (+11.8%)
- 5-year price change: +$67,039 (+54.9%)
- Metro area: not in a metro area

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11 / 50
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#40. Freeport

- Typical home value: $407,673
- 1-year price change: +$20,226 (+5.2%)
- 5-year price change: +$140,268 (+52.5%)
- Metro area: St. Cloud, MN

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#39. Shorewood

- Typical home value: $751,853
- 1-year price change: +$20,853 (+2.9%)
- 5-year price change: +$202,949 (+37.0%)
- Metro area: Minneapolis-St. Paul-Bloomington, MN-WI

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#38. Underwood

- Typical home value: $329,809
- 1-year price change: +$21,088 (+6.8%)
- 5-year price change: +$108,781 (+49.2%)
- Metro area: Fergus Falls, MN

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#37. Ottertail

- Typical home value: $363,115
- 1-year price change: +$21,160 (+6.2%)
- 5-year price change: +$132,341 (+57.3%)
- Metro area: Fergus Falls, MN

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#36. Longville

- Typical home value: $385,134
- 1-year price change: +$21,293 (+5.9%)
- 5-year price change: +$145,622 (+60.8%)
- Metro area: Brainerd, MN

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16 / 50
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#35. Pelican Rapids

- Typical home value: $379,056
- 1-year price change: +$21,486 (+6.0%)
- 5-year price change: +$125,774 (+49.7%)
- Metro area: Fergus Falls, MN

17 / 50
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#34. Mentor

- Typical home value: $368,841
- 1-year price change: +$21,917 (+6.3%)
- 5-year price change: +$98,129 (+36.2%)
- Metro area: Grand Forks, ND-MN

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#33. Vergas

- Typical home value: $388,754
- 1-year price change: +$21,965 (+6.0%)
- 5-year price change: +$132,522 (+51.7%)
- Metro area: Fergus Falls, MN

19 / 50
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#32. Two Harbors

- Typical home value: $284,463
- 1-year price change: +$22,056 (+8.4%)
- 5-year price change: +$101,444 (+55.4%)
- Metro area: Duluth, MN-WI

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#31. Sunburg

- Typical home value: $329,954
- 1-year price change: +$22,310 (+7.3%)
- 5-year price change: +$102,983 (+45.4%)
- Metro area: Willmar, MN

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21 / 50
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#30. Spring Park

- Typical home value: $545,095
- 1-year price change: +$22,434 (+4.3%)
- 5-year price change: +$113,704 (+26.4%)
- Metro area: Minneapolis-St. Paul-Bloomington, MN-WI

22 / 50
Stacker

#29. Plato

- Typical home value: $326,848
- 1-year price change: +$22,568 (+7.4%)
- 5-year price change: +$108,259 (+49.5%)
- Metro area: Hutchinson, MN

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Stacker

#28. Marine on Saint Croix

- Typical home value: $588,199
- 1-year price change: +$22,645 (+4.0%)
- 5-year price change: +$177,600 (+43.3%)
- Metro area: Minneapolis-St. Paul-Bloomington, MN-WI

24 / 50
Stacker

#27. Millville

- Typical home value: $370,563
- 1-year price change: +$22,875 (+6.6%)
- 5-year price change: +$135,959 (+58.0%)
- Metro area: Rochester, MN

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#26. Holdingford

- Typical home value: $351,889
- 1-year price change: +$22,969 (+7.0%)
- 5-year price change: +$127,234 (+56.6%)
- Metro area: St. Cloud, MN

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26 / 50
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#25. Perham

- Typical home value: $352,387
- 1-year price change: +$23,408 (+7.1%)
- 5-year price change: +$110,109 (+45.4%)
- Metro area: Fergus Falls, MN

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#24. Dent

- Typical home value: $383,509
- 1-year price change: +$23,512 (+6.5%)
- 5-year price change: +$139,730 (+57.3%)
- Metro area: Fergus Falls, MN

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#23. Wayzata

- Typical home value: $842,225
- 1-year price change: +$23,539 (+2.9%)
- 5-year price change: +$227,489 (+37.0%)
- Metro area: Minneapolis-St. Paul-Bloomington, MN-WI

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Stacker

#22. Hillman

- Typical home value: $368,368
- 1-year price change: +$23,578 (+6.8%)
- 5-year price change: +$150,344 (+69.0%)
- Metro area: not in a metro area

30 / 50
Stacker

#21. Oronoco

- Typical home value: $527,129
- 1-year price change: +$24,126 (+4.8%)
- 5-year price change: +$152,135 (+40.6%)
- Metro area: Rochester, MN

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31 / 50
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#20. Finland

- Typical home value: $248,302
- 1-year price change: +$25,276 (+11.3%)
- 5-year price change: +$91,350 (+58.2%)
- Metro area: Duluth, MN-WI

32 / 50
Stacker

#19. Racine

- Typical home value: $356,768
- 1-year price change: +$25,393 (+7.7%)
- 5-year price change: +$123,112 (+52.7%)
- Metro area: Austin, MN

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#18. Clitherall

- Typical home value: $417,076
- 1-year price change: +$25,610 (+6.5%)
- 5-year price change: +$141,519 (+51.4%)
- Metro area: Fergus Falls, MN

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#17. Side Lake

- Typical home value: $353,786
- 1-year price change: +$25,763 (+7.9%)
- 5-year price change: +$125,331 (+54.9%)
- Metro area: Duluth, MN-WI

35 / 50
Stacker

#16. Utica

- Typical home value: $383,258
- 1-year price change: +$25,807 (+7.2%)
- 5-year price change: +$125,665 (+48.8%)
- Metro area: Winona, MN

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36 / 50
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#15. Danvers

- Typical home value: $332,674
- 1-year price change: +$27,727 (+9.1%)
- 5-year price change: data not available
- Metro area: not in a metro area

37 / 50
Stacker

#14. Richville

- Typical home value: $395,389
- 1-year price change: +$27,863 (+7.6%)
- 5-year price change: +$124,588 (+46.0%)
- Metro area: Fergus Falls, MN

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Stacker

#13. Deephaven

- Typical home value: $976,681
- 1-year price change: +$31,165 (+3.3%)
- 5-year price change: +$334,284 (+52.0%)
- Metro area: Minneapolis-St. Paul-Bloomington, MN-WI

39 / 50
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#12. North Oaks

- Typical home value: $902,764
- 1-year price change: +$31,391 (+3.6%)
- 5-year price change: +$269,061 (+42.5%)
- Metro area: Minneapolis-St. Paul-Bloomington, MN-WI

40 / 50
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#11. Excelsior

- Typical home value: $792,797
- 1-year price change: +$33,578 (+4.4%)
- 5-year price change: +$209,253 (+35.9%)
- Metro area: Minneapolis-St. Paul-Bloomington, MN-WI

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41 / 50
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#10. Lutsen

- Typical home value: $481,147
- 1-year price change: +$33,740 (+7.5%)
- 5-year price change: +$187,699 (+64.0%)
- Metro area: not in a metro area

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#9. Battle Lake

- Typical home value: $427,597
- 1-year price change: +$33,818 (+8.6%)
- 5-year price change: +$146,794 (+52.3%)
- Metro area: Fergus Falls, MN

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#8. Zumbro Falls

- Typical home value: $438,725
- 1-year price change: +$36,899 (+9.2%)
- 5-year price change: +$152,015 (+53.0%)
- Metro area: Rochester, MN

44 / 50
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#7. Tonka Bay

- Typical home value: $1,002,345
- 1-year price change: +$38,797 (+4.0%)
- 5-year price change: +$333,672 (+49.9%)
- Metro area: Minneapolis-St. Paul-Bloomington, MN-WI

45 / 50
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#6. Greenwood

- Typical home value: $1,525,078
- 1-year price change: +$39,484 (+2.7%)
- 5-year price change: +$493,375 (+47.8%)
- Metro area: Minneapolis-St. Paul-Bloomington, MN-WI

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46 / 50
Stacker

#5. East Gull Lake

- Typical home value: $652,018
- 1-year price change: +$42,022 (+6.9%)
- 5-year price change: +$235,233 (+56.4%)
- Metro area: Brainerd, MN

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#4. Orono

- Typical home value: $1,035,316
- 1-year price change: +$44,513 (+4.5%)
- 5-year price change: +$342,148 (+49.4%)
- Metro area: Minneapolis-St. Paul-Bloomington, MN-WI

48 / 50
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#3. Lake Shore

- Typical home value: $691,715
- 1-year price change: +$51,098 (+8.0%)
- 5-year price change: +$273,243 (+65.3%)
- Metro area: Brainerd, MN

49 / 50
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#2. Woodland

- Typical home value: $1,664,563
- 1-year price change: +$58,119 (+3.6%)
- 5-year price change: +$566,401 (+51.6%)
- Metro area: Minneapolis-St. Paul-Bloomington, MN-WI

50 / 50
Stacker

#1. Minnetonka Beach

- Typical home value: $2,057,351
- 1-year price change: +$101,627 (+5.2%)
- 5-year price change: +$748,799 (+57.2%)
- Metro area: Minneapolis-St. Paul-Bloomington, MN-WI

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