Cities with the fastest growing home prices in Minneapolis metro area

Written by:
November 23, 2022
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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 September 2022. The typical home value in the United States increased over the last year by +14.1% to $356,054. Data was available for 210 cities and towns in Minneapolis.

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Stacker

#30. Annandale, Annandale

- 1-year price change: +$40,033 (+11.4%)
- 5-year price change: +$131,422 (+50.6%)
- Typical home value: $390,976 (#80 most expensive city in metro)
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Stacker

#29. Prior Lake, Prior Lake

- 1-year price change: +$40,309 (+8.6%)
- 5-year price change: +$155,020 (+43.6%)
- Typical home value: $510,937 (#31 most expensive city in metro)
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Stacker

#28. Lakeville, Lakeville

- 1-year price change: +$40,567 (+9.3%)
- 5-year price change: +$146,518 (+44.1%)
- Typical home value: $478,661 (#35 most expensive city in metro)
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#27. Gem Lake, Gem Lake

- 1-year price change: +$41,630 (+8.2%)
- 5-year price change: +$165,048 (+42.6%)
- Typical home value: $552,211 (#25 most expensive city in metro)
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Stacker

#26. Saint Marys Point, Saint Marys Point

- 1-year price change: +$42,291 (+10.2%)
- 5-year price change: +$138,724 (+43.9%)
- Typical home value: $454,933 (#43 most expensive city in metro)

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Stacker

#25. Hudson, Hudson

- 1-year price change: +$45,354 (+11.1%)
- 5-year price change: +$151,384 (+50.2%)
- Typical home value: $452,724 (#44 most expensive city in metro)
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Stacker

#24. Grant, Grant

- 1-year price change: +$45,753 (+6.8%)
- 5-year price change: +$224,385 (+45.7%)
- Typical home value: $715,149 (#16 most expensive city in metro)
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Stacker

#23. Lakeland Shores, Lakeland Shores

- 1-year price change: +$46,765 (+10.0%)
- 5-year price change: +$160,227 (+45.5%)
- Typical home value: $512,499 (#30 most expensive city in metro)
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Stacker

#22. Corcoran, Corcoran

- 1-year price change: +$46,802 (+9.2%)
- 5-year price change: +$150,377 (+37.2%)
- Typical home value: $554,132 (#24 most expensive city in metro)
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#21. Pine Springs, Pine Springs

- 1-year price change: +$47,567 (+8.6%)
- 5-year price change: +$179,778 (+42.8%)
- Typical home value: $599,672 (#23 most expensive city in metro)

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#20. Wilson, Wilson

- 1-year price change: +$48,483 (+19.1%)
- 5-year price change: +$124,150 (+69.5%)
- Typical home value: $302,907 (#175 most expensive city in metro)
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#19. Lake Elmo, Lake Elmo

- 1-year price change: +$48,970 (+8.5%)
- 5-year price change: +$178,388 (+39.8%)
- Typical home value: $626,297 (#19 most expensive city in metro)
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#18. Marine on Saint Croix, Marine on Saint Croix

- 1-year price change: +$50,206 (+8.9%)
- 5-year price change: +$204,204 (+49.5%)
- Typical home value: $616,414 (#21 most expensive city in metro)
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Stacker

#17. Shorewood, Shorewood

- 1-year price change: +$51,552 (+8.0%)
- 5-year price change: +$182,883 (+35.9%)
- Typical home value: $692,351 (#17 most expensive city in metro)
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#16. Houlton, Houlton

- 1-year price change: +$54,598 (+11.1%)
- 5-year price change: +$198,649 (+57.1%)
- Typical home value: $546,528 (#26 most expensive city in metro)

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Stacker

#15. Afton, Afton

- 1-year price change: +$55,856 (+8.3%)
- 5-year price change: +$257,551 (+54.4%)
- Typical home value: $731,360 (#14 most expensive city in metro)
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Stacker

#14. Minnetrista, Minnetrista

- 1-year price change: +$56,197 (+9.2%)
- 5-year price change: +$177,890 (+36.5%)
- Typical home value: $665,654 (#18 most expensive city in metro)
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Stacker

#13. Wayzata, Wayzata

- 1-year price change: +$61,583 (+8.2%)
- 5-year price change: +$221,758 (+37.5%)
- Typical home value: $813,117 (#11 most expensive city in metro)
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#12. Medina, Medina

- 1-year price change: +$65,513 (+8.8%)
- 5-year price change: +$194,417 (+31.6%)
- Typical home value: $809,725 (#12 most expensive city in metro)
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#11. Greenfield, Greenfield

- 1-year price change: +$66,817 (+12.0%)
- 5-year price change: +$186,365 (+42.7%)
- Typical home value: $622,646 (#20 most expensive city in metro)

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#10. Greenwood, Greenwood

- 1-year price change: +$66,835 (+5.1%)
- 5-year price change: +$358,441 (+35.5%)
- Typical home value: $1,369,310 (#2 most expensive city in metro)
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#9. Independence, Independence

- 1-year price change: +$72,994 (+11.2%)
- 5-year price change: +$207,450 (+40.0%)
- Typical home value: $725,773 (#15 most expensive city in metro)
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#8. Excelsior, Excelsior

- 1-year price change: +$73,143 (+10.0%)
- 5-year price change: +$284,675 (+54.5%)
- Typical home value: $807,123 (#13 most expensive city in metro)
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#7. Minnetonka Beach, Minnetonka Beach

- 1-year price change: +$76,964 (+4.6%)
- 5-year price change: +$475,194 (+37.2%)
- Typical home value: $1,753,141 (#1 most expensive city in metro)
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#6. Medicine Lake, Medicine Lake

- 1-year price change: +$80,779 (+8.5%)
- 5-year price change: +$226,129 (+28.0%)
- Typical home value: $1,032,584 (#6 most expensive city in metro)

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#5. Tonka Bay, Tonka Bay

- 1-year price change: +$84,494 (+9.3%)
- 5-year price change: +$269,735 (+37.4%)
- Typical home value: $991,637 (#7 most expensive city in metro)
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#4. Deephaven, Deephaven

- 1-year price change: +$85,277 (+10.2%)
- 5-year price change: +$244,094 (+35.9%)
- Typical home value: $923,281 (#8 most expensive city in metro)
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#3. Woodland, Woodland

- 1-year price change: +$86,722 (+6.9%)
- 5-year price change: +$256,334 (+23.4%)
- Typical home value: $1,352,149 (#3 most expensive city in metro)
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#2. Orono, Orono

- 1-year price change: +$93,298 (+9.9%)
- 5-year price change: +$297,210 (+40.1%)
- Typical home value: $1,037,783 (#5 most expensive city in metro)
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#1. Dellwood, Dellwood

- 1-year price change: +$108,116 (+13.9%)
- 5-year price change: +$253,929 (+40.2%)
- Typical home value: $885,704 (#9 most expensive city in metro)

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