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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.

Backed by 25+ public sourcesFEMA · U.S. Census · NOAA · Dept. of Education · EPA · and more

$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 55408State medianUS median
Median home value$295,627$304,931$289,727
Median sale price$193,500$315,500$325,000
Median days on market57 days39 days51 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

Selling a home in Minneapolis, MN?

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Data last updated

Most recent source refresh: Sep 2026. See all data sources →

Data compiled by REAIGENT7 — AI listing platform for real estate agents