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Minneapolis city, MN

ZIP 55401 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 55401

Median Home Value
$401,500
Median Rent
$1,883
Affordability Snapshot
$111,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,579/mo PITI).

20%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.5x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

17.8 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 55401 in Minneapolis city, MN, a household would need roughly $111,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,579. That is roughly in line with the local median household income ($115,651). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
29.0%-56% vs US avg
x
Vacancy Rate
7.9%-23% vs US avg
x
Broadband Access
92.2%+6% vs US avg
x
4+ Bedrooms
0.3%-98% vs US avg
x
Built Pre-1939
1.6%-88% vs US avg
x
Built Post-2014
3.6%-48% vs US avg
x
Rent Burden >30%
9.9%-80% vs US avg
x
Mortgage-Free
44.6%+17% vs US avg
x
$401,500
Home Value
$1,883
Rent
1999
Year Built
2019
Moved In

Residents have lived here since ~2019 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached4.6%
  • 1-unit attached1.4%
  • 2-9 units1.9%
  • 10+ units92.0%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$401,500
Median rent$1,883
Owner-occupied29.0%
Vacant7.9%
Price-to-income3.5x
Est. income to buy$111,000