Area data
Minneapolis, MN — ZIP 55406
Population: 36,581 (Census ACS)
The median home value in ZIP 55406 (Minneapolis, MN) is $350,902 — up 2.1% over the past year. Homes sell for a median $386,000 after a median 13 days on market. Typical rent runs $1,497/month. 19 schools serve the area (NCES). FEMA's National Risk Index rates the county's overall natural-hazard risk Relatively High, with coldwave, hail, strongwind the top-rated hazards. Cost of living is 2.5% below the US average (BEA, metro/state-level).
$350,902
Median home value
+2.1%
1-year change
13
Median days on market
Relatively High
Hazard risk (county)
Home values & appreciation
- Median home value
- $350,902
- 1-year appreciation
- +2.1%
- 3-year appreciation
- +3.9%
- 5-year appreciation
- +5.6%
- 10-year appreciation
- +51.4%
- All-time peak (2026-04)
- $351,823
- House Price Index (state)
- 429.3 (+3.3% YoY)
Sources: home value index (ZIP-level) · FHFA House Price Index (state-level)
Market activity
- Median sale price
- $386,000
- Median list price
- $374,900
- Median price per sqft
- $263
- 1-year sale-price change
- +4.2%
- Median days on market
- 13 days
- Homes sold (recent period)
- 114
- For-sale inventory
- 90
- Sale-to-list ratio
- 104.1%
- Active listings
- 43
- 1-year forecast
- -0.5%
- Days to pending
- 17 days
- New listings (monthly)
- 48
Source: recent area sales and market data (ZIP-level)
Rents
- Typical rent
- $1,497/mo
- 1-year rent change
- +1.3%
- Studio fair-market rent
- $754/mo
- 1BR fair-market rent
- $943/mo
- 2BR fair-market rent
- $1,176/mo
- 3BR fair-market rent
- $1,529/mo
- 4BR fair-market rent
- $1,764/mo
Sources: market rent index (ZIP-level) · HUD Fair Market Rents (metro/county-level, 40th-percentile regulatory reference)
Affordability
- Cost of living index (Average)
- 97.5 (100 = US avg)
- Electricity rate (state-level)
- 15.8¢/kWh
- Natural gas rate (state-level)
- $11.00/MCF
- 30-year mortgage rate (national)
- 6.66%
- 15-year mortgage rate (national)
- 6.00%
Sources: BEA Regional Price Parities (metro/state-level) · EIA energy rates (state-level) · Freddie Mac PMMS (national)
Schools
- Total schools
- 19
- Elementary schools
- 12
- Middle schools
- 2
- High schools
- 4
- Charter schools
- 7
- School districts serving the area
- Minnesota Transitions Charter Sch, Friendship Academy of the Arts, Universal Academy Charter School
- Schools include
- Minnesota Transitions Charter Elem, MTS HIGH SCHOOL, Friendship Academy of Arts-Primary, Friendship Academy of Arts - Interm, Universal Academy Elementary
Source: NCES school directory, 2022-23 (school-address-based)
Natural hazards & flood risk
- Overall hazard risk (county)
- Relatively High
- Top hazards (county)
- coldWave, hail, strongWind, tornado, winterWeather
- Notable hazard ratings (county)
- coldWave: Very High · drought: Relatively Low · hail: Very High · heatWave: Relatively High · iceStorm: Relatively Moderate · inlandFlooding: Relatively High
- FEMA flood zone
- X
- Flood risk level
- Minimal
- Wildfire risk to homes (county)
- Higher than 32% of US counties
- Buildings in wildfire direct-exposure zone
- 13.6%
- Radon potential (county)
- High radon potential — EPA Zone 1 of 3
- EPA Superfund (NPL) sites within 5 mi
- 4
- Nearest Superfund site
- South Minneapolis Residential Soil Contamination (1.4 mi)
Sources: FEMA National Risk Index (county-level) · FEMA flood data (ZIP-level) · USDA Forest Service Wildfire Risk to Communities (county-level) · EPA radon zones + Superfund NPL
Climate (30-year normals)
- Average annual temperature
- 49.0°F
- Average high
- 58.0°F
- Average low
- 39.0°F
- Annual precipitation
- 40.6 in
- Annual snowfall
- 49.2 in
- USDA plant hardiness zone
- 5a (extreme annual low -20 to -15°F)
Sources: NOAA Climate Normals (30-year, nearest-station) · USDA Plant Hardiness Zone Map (2023)
Air quality
- Air quality rating
- Moderate
- Median AQI (annual)
- 52
- Days with Good air quality
- 173
- Days with Moderate air quality
- 175
- Days with Unhealthy air quality
- 3
- Highest AQI recorded (year)
- 187
Source: EPA air quality data (nearest monitoring station, annual)
Walkability & transit
- Walkability index
- 15.3 / 20
- Transit service frequency
- 0
- Jobs reachable by car (30 min)
- 273,125
- Jobs reachable by transit (45 min)
- 192,973
Source: EPA Smart Location Database (metropolitan block groups)
Amenities
- National parks within ~60 mi
- 1
- Nearest national park
- Mississippi National River & Recreation Area (6 mi)
- Airports within 30 mi
- 35
- Nearest airport
- Minneapolis–Saint Paul International Airport / Wold–Chamberlain Field (MSP) (4 mi)
- Nearest major airport
- Minneapolis–Saint Paul International Airport / Wold–Chamberlain Field (MSP) (4 mi)
- Hospitals nearby (~15 mi)
- 17
- Hospitals include
- NORTH MEMORIAL HEALTH HOSPITAL, HENNEPIN COUNTY MEDICAL CENTER, ALLINA UNITED HOSPITAL
- Avg hospital rating (CMS)
- 3.7 / 5
- Best hospital rating nearby (CMS)
- 5.0 / 5
- Solar radiation rating
- Fair (3.8 kWh/m²/day)
Sources: National Park Service · FAA airport data · CMS hospital data · DOE/NREL (proximity-based)
Migration
- Net migration (county)
- -6,126 tax filers
Source: IRS county-to-county migration data (county-level, ~12-month lag)
Housing stock
- Median year housing built
- 1,938
- Housing built before 1970
- 74.9%
- Housing built 2000 or later
- 12.0%
- Median annual property tax
- $4,209
- Mean commute to work
- 15 min
- Households with broadband internet
- 83.7%
Source: Census ACS 5-year estimates (ZIP-level)
Employment & development
- Total county employment
- 825,553
- Average weekly wage
- $1,697
- Top industries (by employment)
- Health Care, Professional Services, Finance & Insurance
- Annual residential building permits (county)
- 2,044
Sources: BLS QCEW (county-level) · Census Building Permits (county-level)
How it compares
| ZIP 55406 | State median | US median | |
|---|---|---|---|
| Median home value | $350,902 | $304,931 | $289,727 |
| Median sale price | $386,000 | $315,500 | $325,000 |
| Median days on market | 13 days | 39 days | 51 days |
| Typical rent | $1,497/mo | $1,678/mo | $1,808/mo |
| Median annual property tax | $4,209 | $2,128 | $2,006 |
State and US medians are computed across all US ZIP codes with sufficient public-data coverage, from the same sources as the figures above.
Area data compiled from public government, academic, and industry research feeds. Data sources →
Common questions
- What is the median home value in ZIP 55406?
- $350,902.
- What is the median sale price in ZIP 55406?
- $386,000.
- How long do homes take to sell in ZIP 55406?
- Median days on market: 13 days.
- What is typical rent in ZIP 55406?
- Typical rent: $1,497/month.
- What is the natural-hazard risk in ZIP 55406?
- Overall risk: Relatively High (FEMA NRI, county-level). Top hazards: coldWave, hail, strongWind, tornado, winterWeather.
- Is ZIP 55406 in a flood zone?
- Minimal (FEMA NFIP). FEMA flood zone X.
- What is the wildfire risk in ZIP 55406?
- Risk to homes is higher than 32% of US counties (USDA Forest Service Wildfire Risk to Communities, county-level).
- What is the radon potential in ZIP 55406?
- High radon potential — EPA Zone 1 of 3, county-level. EPA recommends testing every home regardless of zone.
- Are there Superfund sites near ZIP 55406?
- 4 current or proposed National Priorities List sites within 5 miles (EPA). Nearest site: South Minneapolis Residential Soil Contamination, 1.4 mi.
- How many schools serve ZIP 55406?
- 19 schools (12 elementary, 2 middle, 4 high) (NCES, 2022-23).
- Is ZIP 55406 walkable?
- Walkability index: 15.3/20 (EPA Smart Location Database).
- What is the air quality in ZIP 55406?
- Moderate. Median AQI: 52. (EPA AQI).
- What is the cost of living in ZIP 55406?
- Regional Price Parity: 97.5 (100 = US average) (Average) (BEA RPP, metro/state-level).
Nearby ZIP codes
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Data last updated
Most recent source refresh: Sep 2026. See all data sources →