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Minneapolis city, MN

ZIP 55404 — Housing & Real Estate

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

Working ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 55404

Median Home Value
$294,200
Median Rent
$983
Affordability Snapshot
$81,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,890/mo PITI).

27%
Rent-to-Income Ratio

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

6.7x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

24.9 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 55404 in Minneapolis city, MN, a household would need roughly $81,000 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 $1,890. That is about 84% above the local median household income ($43,932), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 12% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
17.5%-73% vs US avg
x
Vacancy Rate
11.8%+14% vs US avg
x
Broadband Access
79.6%-8% vs US avg
x
4+ Bedrooms
1.1%-92% vs US avg
x
Built Pre-1939
2.0%-84% vs US avg
x
Built Post-2014
0.5%-92% vs US avg
x
Rent Burden >30%
24.0%-52% vs US avg
x
Mortgage-Free
24.3%-36% vs US avg
x
$294,200
Home Value
$983
Rent
1970
Year Built
2018
Moved In

Residents have lived here since ~2018 on average

Housing Structure

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

  • 1-unit detached8.2%
  • 1-unit attached5.8%
  • 2-9 units16.6%
  • 10+ units68.3%
  • Mobile home & other1.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$294,200
Median rent$983
Owner-occupied17.5%
Vacant11.8%
Price-to-income6.7x
Est. income to buy$81,000