Markets › Minnesota
Minnesota housing market
In the North Star State, part of the Census Bureau's West North Central division, Pecan Street tracks five markets. Median sale prices run from $273K in Duluth to $403K in Minneapolis over Jul–Sep 2026. Four of five are higher than a year earlier and one is lower; St. Cloud leads at +6.7% and Duluth trails at -2.3%.
Homes sit longest in Rochester (61 median days on market) and sell fastest in Minneapolis (43 days). The share of active listings with a price cut runs from 30% in Mankato to 40% in St. Cloud. Price-to-rent ratios run from about 14 in Duluth to 16 in St. Cloud, measured as years of HUD Fair Market Rent per median sale price. Among the 383 U.S. metros Pecan Street tracks, the Duluth metro has the 35th-slowest year-over-year price growth and the Minneapolis metro the 37th-fewest median days on market. Minnesota's unemployment rate was 4.5% in Sep 2026 (BLS via FRED), above the national rate of 4.2%.
Markets at a glance
| Market | Median sale price | YoY | Days on market | Price-cut share | Price-to-rent |
|---|---|---|---|---|---|
| Duluth | $273K | -2.3% | 60 | 32% | ≈ 14 |
| Mankato | $318K | +2.9% | 59 | 30% | ≈ 16 |
| Minneapolis | $403K | +1.7% | 43 | 39% | ≈ 15 |
| Rochester | $346K | +1.6% | 61 | 32% | ≈ 15 |
| St. Cloud | $317K | +6.7% | 52 | 40% | ≈ 16 |
Median sale price and year-over-year change from Redfin (rolling three months); median days on market and the share of active listings with a price cut from Realtor.com; price-to-rent is each market page's figure (its median sale price over a year of HUD Fair Market Rent). Figures are per metro market, not statewide.
Recent signals
No market signals flagged across this state right now.