Cities with the fastest growing home prices in Minneapolis metro area

Written by:
February 22, 2023
FOTOGRIN // Shutterstock

Cities with the fastest growing home prices in Minneapolis metro area

It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.

The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.

Stacker compiled a list of cities with the fastest-growing home prices in Minneapolis-St. Paul-Bloomington, MN-WI metro area using data from Zillow. Cities are ranked by 1-year price change as of January 2023. The typical home value in the United States increased over the last year by +6.2% to $329,542. Data was available for 207 cities and towns in Minneapolis.

You may also like: Where people in Minneapolis are moving to most

1 / 30
Stacker

#30. Carver, MN

- 1-year price change: +$25,701 (+5.8%)
- 5-year price change: +$122,025 (+35.5%)
- Typical home value: $465,877 (#32 most expensive city in metro)
2 / 30
Stacker

#29. Houlton, WI

- 1-year price change: +$26,412 (+6.3%)
- 5-year price change: +$158,607 (+55.4%)
- Typical home value: $444,898 (#38 most expensive city in metro)
3 / 30
Stacker

#28. Lakeland Shores, MN

- 1-year price change: +$26,517 (+6.0%)
- 5-year price change: +$117,861 (+33.8%)
- Typical home value: $467,046 (#31 most expensive city in metro)
4 / 30
Stacker

#27. Stanchfield, MN

- 1-year price change: +$26,609 (+8.3%)
- 5-year price change: +$114,871 (+49.5%)
- Typical home value: $347,088 (#100 most expensive city in metro)
5 / 30
Stacker

#26. Stockholm, WI

- 1-year price change: +$26,642 (+9.6%)
- 5-year price change: +$133,807 (+78.8%)
- Typical home value: $303,596 (#150 most expensive city in metro)

You may also like: Metros sending the most people to Minneapolis

6 / 30
Stacker

#25. Le Center, MN

- 1-year price change: +$26,672 (+10.7%)
- 5-year price change: +$95,018 (+52.4%)
- Typical home value: $276,340 (#183 most expensive city in metro)
7 / 30
Stacker

#24. Marine on Saint Croix, MN

- 1-year price change: +$26,691 (+5.2%)
- 5-year price change: +$159,454 (+42.1%)
- Typical home value: $538,074 (#22 most expensive city in metro)
8 / 30
Stacker

#23. Grant, MN

- 1-year price change: +$26,724 (+4.4%)
- 5-year price change: +$147,843 (+30.4%)
- Typical home value: $634,812 (#17 most expensive city in metro)
9 / 30
Stacker

#22. Waterville, MN

- 1-year price change: +$27,512 (+11.2%)
- 5-year price change: +$93,379 (+52.0%)
- Typical home value: $272,979 (#187 most expensive city in metro)
10 / 30
Stacker

#21. Sunfish Lake, MN

- 1-year price change: +$27,791 (+2.7%)
- 5-year price change: +$294,129 (+38.6%)
- Typical home value: $1,055,830 (#4 most expensive city in metro)

You may also like: Highest-earning zip codes in Minneapolis metro area

11 / 30
Stacker

#20. Elysian, MN

- 1-year price change: +$35,159 (+10.7%)
- 5-year price change: +$122,449 (+51.0%)
- Typical home value: $362,702 (#79 most expensive city in metro)
12 / 30
Stacker

#19. Excelsior, MN

- 1-year price change: +$36,330 (+5.3%)
- 5-year price change: +$251,896 (+54.2%)
- Typical home value: $716,893 (#12 most expensive city in metro)
13 / 30
Stacker

#18. Afton, MN

- 1-year price change: +$37,391 (+6.2%)
- 5-year price change: +$180,912 (+39.7%)
- Typical home value: $636,246 (#16 most expensive city in metro)
14 / 30
Stacker

#17. Corcoran, MN

- 1-year price change: +$37,904 (+7.6%)
- 5-year price change: +$164,838 (+44.7%)
- Typical home value: $533,958 (#24 most expensive city in metro)
15 / 30
Stacker

#16. Ogilvie, MN

- 1-year price change: +$40,272 (+19.0%)
- 5-year price change: +$104,818 (+71.3%)
- Typical home value: $251,914 (#196 most expensive city in metro)

You may also like: Cities with the fastest growing home prices in Minneapolis metro area

16 / 30
Stacker

#15. Shorewood, MN

- 1-year price change: +$40,790 (+6.5%)
- 5-year price change: +$178,673 (+36.5%)
- Typical home value: $668,618 (#13 most expensive city in metro)
17 / 30
Stacker

#14. Minnetrista, MN

- 1-year price change: +$44,473 (+7.5%)
- 5-year price change: +$199,635 (+45.4%)
- Typical home value: $639,504 (#15 most expensive city in metro)
18 / 30
Stacker

#13. Gem Lake, MN

- 1-year price change: +$44,485 (+9.1%)
- 5-year price change: +$160,807 (+42.9%)
- Typical home value: $535,230 (#23 most expensive city in metro)
19 / 30
Stacker

#12. Wayzata, MN

- 1-year price change: +$46,881 (+6.6%)
- 5-year price change: +$256,849 (+51.5%)
- Typical home value: $755,993 (#11 most expensive city in metro)
20 / 30
Stacker

#11. Medina, MN

- 1-year price change: +$51,249 (+7.2%)
- 5-year price change: +$243,207 (+46.4%)
- Typical home value: $767,753 (#10 most expensive city in metro)

You may also like: Dogs available for adoption in Minneapolis

21 / 30
Stacker

#10. North Oaks, MN

- 1-year price change: +$51,463 (+6.7%)
- 5-year price change: +$193,054 (+30.7%)
- Typical home value: $821,800 (#8 most expensive city in metro)
22 / 30
Stacker

#9. Deephaven, MN

- 1-year price change: +$53,907 (+6.7%)
- 5-year price change: +$242,705 (+39.7%)
- Typical home value: $854,219 (#7 most expensive city in metro)
23 / 30
Stacker

#8. Greenfield, MN

- 1-year price change: +$54,527 (+11.1%)
- 5-year price change: +$174,070 (+46.7%)
- Typical home value: $546,717 (#21 most expensive city in metro)
24 / 30
Stacker

#7. Orono, MN

- 1-year price change: +$63,558 (+7.2%)
- 5-year price change: +$337,309 (+55.8%)
- Typical home value: $942,187 (#5 most expensive city in metro)
25 / 30
Stacker

#6. Independence, MN

- 1-year price change: +$66,373 (+11.3%)
- 5-year price change: +$210,833 (+47.7%)
- Typical home value: $653,294 (#14 most expensive city in metro)

You may also like: Most common jobs in Minneapolis

26 / 30
Stacker

#5. Dellwood, MN

- 1-year price change: +$66,988 (+9.0%)
- 5-year price change: +$241,692 (+42.4%)
- Typical home value: $811,482 (#9 most expensive city in metro)
27 / 30
Stacker

#4. Minnetonka Beach, MN

- 1-year price change: +$73,179 (+4.4%)
- 5-year price change: +$621,078 (+55.3%)
- Typical home value: $1,743,650 (#1 most expensive city in metro)
28 / 30
Stacker

#3. Tonka Bay, MN

- 1-year price change: +$75,634 (+8.7%)
- 5-year price change: +$321,529 (+52.0%)
- Typical home value: $940,331 (#6 most expensive city in metro)
29 / 30
Stacker

#2. Greenwood, MN

- 1-year price change: +$83,055 (+6.6%)
- 5-year price change: +$422,658 (+45.6%)
- Typical home value: $1,349,224 (#3 most expensive city in metro)
30 / 30
Stacker

#1. Woodland, MN

- 1-year price change: +$120,571 (+9.4%)
- 5-year price change: +$455,975 (+47.9%)
- Typical home value: $1,408,609 (#2 most expensive city in metro)

You may also like: Metros where people in Minneapolis are getting new jobs

Trending Now