Median home price in Minneapolis: $320,000. Property tax rate: 1.20%. Get mortgage estimates, affordability analysis, and local market insights.
Population
425,336
Median Home Price
$320,000
Property Tax Rate
1.20%
Median Income
$64,044
Cost of Living
105/ 100
The median home price in Minneapolis, MN is $320,000. Prices vary considerably by neighborhood, with some areas commanding premiums well above the median. Comparing the median price to the local median household income of $64,044 gives you a price-to-income ratio that helps gauge overall affordability.
Homeowners in Minneapolis pay an effective property tax rate of 1.20%. On a home priced at $320,000, that translates to thousands of dollars per year. Factor in homeowners insurance, potential HOA fees, and maintenance costs when budgeting for your purchase.
With the median home price at $320,000, most buyers in Minneapolis will need a mortgage. A 20% down payment would be significant in this market. Get pre-approved early and compare rates from multiple lenders. Our mortgage calculator can help you estimate monthly payments based on current rates.
Minneapolis offers a range of neighborhoods from urban cores to suburban enclaves. The overall cost of living index of 105 reflects the average, but specific neighborhoods can differ widely. Research school ratings, commute times, and future development plans before choosing where to buy.
Use our free calculator with Minneapolis-specific data already filled in.
Open Minneapolis CalculatorPlanning a move to Minneapolis? Cost of living index: 105/100. Median home: $320,000. Median income: $64,044. Get the full relocation breakdown.
Minneapolis cost of living index: 105/100 (100 = national avg). Median home $320,000, median income $64,044. See housing, groceries & more.
Median household income in Minneapolis: $64,044. Cost of living index: 105/100. See how far your salary really goes and compare local job market data.
Property tax rate in Minneapolis: 1.20%. Median home price: $320,000. Calculate your annual bill, compare to state averages, and find exemptions.
Should you rent in Minneapolis? Cost of living index: 105/100. Median income: $64,044. See how much rent you can afford and where to look.
What does commuting cost in Minneapolis? Population: 425,336. Median income: $64,044. Compare transit, driving, and biking options with real local data.
Median home in Minneapolis: $320,000. Tax rate: 1.20%. Compare Minneapolis neighborhoods by price, schools, and lifestyle to find the right fit.