Area data
Minneapolis, MN — ZIP 55408
Population: 31,507 (Census ACS)
The median home value in ZIP 55408 (Minneapolis, MN) is $295,627 — up 1.5% over the past year. Homes sell for a median $193,500 after a median 57 days on market. Typical rent runs $1,513/month.
$295,627
Median home value
+1.5%
1-year change
57
Median days on market
Home values & appreciation
- Median home value
- $295,627
- 1-year appreciation
- +1.5%
- 3-year appreciation
- -1.9%
- 5-year appreciation
- -4.7%
- 10-year appreciation
- +30.0%
- All-time peak (2022-06)
- $314,439
- House Price Index (state)
- 442.4 (+2.4% YoY)
Sources: home value index (ZIP-level) · FHFA House Price Index (state-level)
Market activity
- Median sale price
- $193,500
- Median list price
- $180,000
- Median price per sqft
- $209
- 1-year sale-price change
- -4.4%
- Median days on market
- 57 days
- Homes sold (recent period)
- 14
- For-sale inventory
- 102
- Sale-to-list ratio
- 98.3%
- Active listings
- 42
- 1-year forecast
- -0.3%
- New listings (monthly)
- 24
Source: recent area sales and market data (ZIP-level)
Rents
- Typical rent
- $1,513/mo
- 1-year rent change
- +3.1%
- Studio fair-market rent
- $863/mo
- 1BR fair-market rent
- $868/mo
- 2BR fair-market rent
- $1,089/mo
- 3BR fair-market rent
- $1,515/mo
- 4BR fair-market rent
- $1,827/mo
Sources: market rent index (ZIP-level) · HUD Fair Market Rents (metro/county-level, 40th-percentile regulatory reference)
Affordability
- 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)
Natural hazards & flood risk
- Wildfire risk to homes (county)
- Higher than 32% of US counties
- Buildings in wildfire direct-exposure zone
- 13.6%
- EPA Superfund (NPL) sites within 5 mi
- 4
- Nearest Superfund site
- South Minneapolis Residential Soil Contamination (2.6 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)
- 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)
Housing stock
- Median year housing built
- 1,958
- Housing built before 1970
- 59.5%
- Housing built 2000 or later
- 22.9%
- Median annual property tax
- $4,824
- Mean commute to work
- 17 min
- Households with broadband internet
- 84.1%
Source: Census ACS 5-year estimates (ZIP-level)
How it compares
| ZIP 55408 | State median | US median | |
|---|---|---|---|
| Median home value | $295,627 | $304,931 | $289,727 |
| Median sale price | $193,500 | $315,500 | $325,000 |
| Median days on market | 57 days | 39 days | 51 days |
| Typical rent | $1,513/mo | $1,678/mo | $1,808/mo |
| Median annual property tax | $4,824 | $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 55408?
- $295,627.
- What is the median sale price in ZIP 55408?
- $193,500.
- How long do homes take to sell in ZIP 55408?
- Median days on market: 57 days.
- What is typical rent in ZIP 55408?
- Typical rent: $1,513/month.
- What is the wildfire risk in ZIP 55408?
- Risk to homes is higher than 32% of US counties (USDA Forest Service Wildfire Risk to Communities, county-level).
- Are there Superfund sites near ZIP 55408?
- 4 current or proposed National Priorities List sites within 5 miles (EPA). Nearest site: South Minneapolis Residential Soil Contamination, 2.6 mi.
Nearby ZIP codes
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Data last updated
Most recent source refresh: Sep 2026. See all data sources →