Cities with the fastest growing home prices in Minneapolis metro area

Written by:
July 26, 2022
Arina P Habich // 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 not 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 metro area using data from Zillow. Cities are ranked by 1-year price change as of June 2022. The charts in this story were created automatically using Matplotlib. The typical home value in the United States increased over the last year by +20.9% to $334,141. Data was available for 210 cities and towns in Minneapolis.

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#30. Ham Lake, MN

- 1-year price change: +$60,937 (+14.3%)
- 5-year price change: +$163,863 (+50.9%)
- Typical home value: $485,878 (#35 most expensive city in metro)
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#29. Carver, MN

- 1-year price change: +$61,964 (+15.3%)
- 5-year price change: +$136,962 (+41.4%)
- Typical home value: $467,842 (#41 most expensive city in metro)
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#28. Victoria, MN

- 1-year price change: +$62,286 (+12.9%)
- 5-year price change: +$153,549 (+39.2%)
- Typical home value: $545,562 (#27 most expensive city in metro)
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#27. Oak Grove, MN

- 1-year price change: +$62,380 (+15.9%)
- 5-year price change: +$161,985 (+55.3%)
- Typical home value: $455,096 (#48 most expensive city in metro)
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#26. Corcoran, MN

- 1-year price change: +$63,193 (+12.7%)
- 5-year price change: +$152,473 (+37.4%)
- Typical home value: $560,609 (#24 most expensive city in metro)

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#25. Elko New Market, MN

- 1-year price change: +$63,411 (+15.5%)
- 5-year price change: +$145,118 (+44.5%)
- Typical home value: $471,436 (#40 most expensive city in metro)
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#24. Prior Lake, MN

- 1-year price change: +$70,996 (+15.8%)
- 5-year price change: +$165,656 (+46.7%)
- Typical home value: $520,205 (#31 most expensive city in metro)
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#23. Scandia, MN

- 1-year price change: +$72,551 (+15.4%)
- 5-year price change: +$181,431 (+50.3%)
- Typical home value: $542,311 (#28 most expensive city in metro)
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#22. Shorewood, MN

- 1-year price change: +$74,387 (+11.9%)
- 5-year price change: +$184,107 (+35.9%)
- Typical home value: $697,147 (#17 most expensive city in metro)
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#21. Pine Springs, MN

- 1-year price change: +$75,300 (+14.1%)
- 5-year price change: +$172,398 (+39.3%)
- Typical home value: $611,094 (#23 most expensive city in metro)

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#20. Houlton, WI

- 1-year price change: +$78,262 (+17.1%)
- 5-year price change: +$196,729 (+58.0%)
- Typical home value: $536,001 (#29 most expensive city in metro)
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#19. Lake Elmo, MN

- 1-year price change: +$78,995 (+14.2%)
- 5-year price change: +$179,133 (+39.2%)
- Typical home value: $635,797 (#19 most expensive city in metro)
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#18. Marine on Saint Croix, MN

- 1-year price change: +$79,247 (+14.5%)
- 5-year price change: +$206,750 (+49.1%)
- Typical home value: $627,638 (#20 most expensive city in metro)
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#17. Sunfish Lake, MN

- 1-year price change: +$79,592 (+7.5%)
- 5-year price change: +$276,137 (+31.9%)
- Typical home value: $1,142,779 (#4 most expensive city in metro)
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#16. Wayzata, MN

- 1-year price change: +$79,932 (+11.0%)
- 5-year price change: +$221,940 (+37.8%)
- Typical home value: $808,771 (#12 most expensive city in metro)

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#15. Medicine Lake, MN

- 1-year price change: +$80,569 (+8.5%)
- 5-year price change: +$219,168 (+27.2%)
- Typical home value: $1,025,691 (#6 most expensive city in metro)
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#14. Minnetrista, MN

- 1-year price change: +$80,649 (+13.6%)
- 5-year price change: +$183,088 (+37.2%)
- Typical home value: $675,382 (#18 most expensive city in metro)
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#13. Grant, MN

- 1-year price change: +$82,703 (+12.7%)
- 5-year price change: +$234,104 (+47.0%)
- Typical home value: $732,158 (#15 most expensive city in metro)
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#12. Greenfield, MN

- 1-year price change: +$84,704 (+15.7%)
- 5-year price change: +$186,535 (+42.6%)
- Typical home value: $624,658 (#21 most expensive city in metro)
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#11. Medina, MN

- 1-year price change: +$92,315 (+12.8%)
- 5-year price change: +$193,857 (+31.4%)
- Typical home value: $811,832 (#11 most expensive city in metro)

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#10. Excelsior, MN

- 1-year price change: +$92,839 (+13.3%)
- 5-year price change: +$277,380 (+53.7%)
- Typical home value: $793,454 (#13 most expensive city in metro)
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#9. Afton, MN

- 1-year price change: +$97,771 (+15.0%)
- 5-year price change: +$264,605 (+54.4%)
- Typical home value: $751,155 (#14 most expensive city in metro)
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#8. Independence, MN

- 1-year price change: +$105,427 (+16.8%)
- 5-year price change: +$211,747 (+40.7%)
- Typical home value: $732,007 (#16 most expensive city in metro)
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#7. Deephaven, MN

- 1-year price change: +$107,333 (+13.2%)
- 5-year price change: +$241,367 (+35.6%)
- Typical home value: $918,743 (#8 most expensive city in metro)
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#6. Tonka Bay, MN

- 1-year price change: +$112,066 (+12.7%)
- 5-year price change: +$267,349 (+36.9%)
- Typical home value: $991,159 (#7 most expensive city in metro)

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#5. Greenwood, MN

- 1-year price change: +$112,454 (+8.8%)
- 5-year price change: +$369,062 (+36.3%)
- Typical home value: $1,384,945 (#2 most expensive city in metro)
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#4. Woodland, MN

- 1-year price change: +$126,789 (+10.3%)
- 5-year price change: +$258,246 (+23.6%)
- Typical home value: $1,354,549 (#3 most expensive city in metro)
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#3. Orono, MN

- 1-year price change: +$126,887 (+13.9%)
- 5-year price change: +$298,722 (+40.2%)
- Typical home value: $1,042,164 (#5 most expensive city in metro)
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#2. Minnetonka Beach, MN

- 1-year price change: +$143,976 (+8.8%)
- 5-year price change: +$490,442 (+38.1%)
- Typical home value: $1,778,114 (#1 most expensive city in metro)
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#1. Dellwood, MN

- 1-year price change: +$177,917 (+24.8%)
- 5-year price change: +$260,899 (+41.1%)
- Typical home value: $895,109 (#9 most expensive city in metro)

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