Cities with the fastest growing home prices in Minneapolis metro area
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.
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#30. Carver, MN
- 5-year price change: +$122,025 (+35.5%)
- Typical home value: $465,877 (#32 most expensive city in metro)
#29. Houlton, WI
- 5-year price change: +$158,607 (+55.4%)
- Typical home value: $444,898 (#38 most expensive city in metro)
#28. Lakeland Shores, MN
- 5-year price change: +$117,861 (+33.8%)
- Typical home value: $467,046 (#31 most expensive city in metro)
#27. Stanchfield, MN
- 5-year price change: +$114,871 (+49.5%)
- Typical home value: $347,088 (#100 most expensive city in metro)
#26. Stockholm, WI
- 5-year price change: +$133,807 (+78.8%)
- Typical home value: $303,596 (#150 most expensive city in metro)
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#25. Le Center, MN
- 5-year price change: +$95,018 (+52.4%)
- Typical home value: $276,340 (#183 most expensive city in metro)
#24. Marine on Saint Croix, MN
- 5-year price change: +$159,454 (+42.1%)
- Typical home value: $538,074 (#22 most expensive city in metro)
#23. Grant, MN
- 5-year price change: +$147,843 (+30.4%)
- Typical home value: $634,812 (#17 most expensive city in metro)
#22. Waterville, MN
- 5-year price change: +$93,379 (+52.0%)
- Typical home value: $272,979 (#187 most expensive city in metro)
#21. Sunfish Lake, MN
- 5-year price change: +$294,129 (+38.6%)
- Typical home value: $1,055,830 (#4 most expensive city in metro)
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#20. Elysian, MN
- 5-year price change: +$122,449 (+51.0%)
- Typical home value: $362,702 (#79 most expensive city in metro)
#19. Excelsior, MN
- 5-year price change: +$251,896 (+54.2%)
- Typical home value: $716,893 (#12 most expensive city in metro)
#18. Afton, MN
- 5-year price change: +$180,912 (+39.7%)
- Typical home value: $636,246 (#16 most expensive city in metro)
#17. Corcoran, MN
- 5-year price change: +$164,838 (+44.7%)
- Typical home value: $533,958 (#24 most expensive city in metro)
#16. Ogilvie, MN
- 5-year price change: +$104,818 (+71.3%)
- Typical home value: $251,914 (#196 most expensive city in metro)
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#15. Shorewood, MN
- 5-year price change: +$178,673 (+36.5%)
- Typical home value: $668,618 (#13 most expensive city in metro)
#14. Minnetrista, MN
- 5-year price change: +$199,635 (+45.4%)
- Typical home value: $639,504 (#15 most expensive city in metro)
#13. Gem Lake, MN
- 5-year price change: +$160,807 (+42.9%)
- Typical home value: $535,230 (#23 most expensive city in metro)
#12. Wayzata, MN
- 5-year price change: +$256,849 (+51.5%)
- Typical home value: $755,993 (#11 most expensive city in metro)
#11. Medina, MN
- 5-year price change: +$243,207 (+46.4%)
- Typical home value: $767,753 (#10 most expensive city in metro)
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#10. North Oaks, MN
- 5-year price change: +$193,054 (+30.7%)
- Typical home value: $821,800 (#8 most expensive city in metro)
#9. Deephaven, MN
- 5-year price change: +$242,705 (+39.7%)
- Typical home value: $854,219 (#7 most expensive city in metro)
#8. Greenfield, MN
- 5-year price change: +$174,070 (+46.7%)
- Typical home value: $546,717 (#21 most expensive city in metro)
#7. Orono, MN
- 5-year price change: +$337,309 (+55.8%)
- Typical home value: $942,187 (#5 most expensive city in metro)
#6. Independence, MN
- 5-year price change: +$210,833 (+47.7%)
- Typical home value: $653,294 (#14 most expensive city in metro)
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#5. Dellwood, MN
- 5-year price change: +$241,692 (+42.4%)
- Typical home value: $811,482 (#9 most expensive city in metro)
#4. Minnetonka Beach, MN
- 5-year price change: +$621,078 (+55.3%)
- Typical home value: $1,743,650 (#1 most expensive city in metro)
#3. Tonka Bay, MN
- 5-year price change: +$321,529 (+52.0%)
- Typical home value: $940,331 (#6 most expensive city in metro)
#2. Greenwood, MN
- 5-year price change: +$422,658 (+45.6%)
- Typical home value: $1,349,224 (#3 most expensive city in metro)
#1. Woodland, MN
- 5-year price change: +$455,975 (+47.9%)
- Typical home value: $1,408,609 (#2 most expensive city in metro)
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