United States · North America · Population: 430,000
Minneapolis is relatively affordable for homebuyers, with steady growth in property values. The city has moderate rental prices. At $320,000 average home price in United States, buyers should consider the 4.5x price-to-income ratio when planning a purchase.
| Average Home Price | $320,000 |
| Price per sqm | $3,500 |
| Price-to-Income Ratio | 4.5x |
| Mortgage Rate | 6.8% |
| 1-Year Price Change | +2.8% |
| 1-Bedroom Apartment | $1,400/mo |
| 3-Bedroom Apartment | $2,100/mo |
| Rent-to-Income Ratio | 20% |
| Median Household Income | $71,000/year |
| Years to Buy (at median income) | 4.5 years |
| Local Currency | USD |
With a price-to-income ratio of 4.5x, Minneapolis offers reasonable opportunities for homebuyers compared to global averages. Home prices have increased 2.8% in the past year.
Cities worldwide with home prices closest to Minneapolis
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