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Explore Minnesota; Land of 10,000 Lakes.

Home Mortgage Rates in Minnesota

Why Minnesota?

Despite the freezing weather and long winters, Minnesota has long been deemed one of the best states in which to purchase real estate. This is especially true for those looking to settle down in a place of their own. There are few states that are better suited to raising a family. After all, Minnesota has consistently ranked at the top of Morgan Quitno's list of "most livable states." Public education in this state is second to none-many of the top school districts in the nation are located in or around the twin cities area. Healthcare is also excellent, perhaps owing to the esteemed Mayo Clinic located in Rochester, Minnesota. Other highlights of living in Minnesota include low crime rates, a variety of career opportunities, and the unparalleled natural beauty of the state’s 10,000 pristine lakes.

Places to Live

Metropolitan Areas

MN Rank US Rank Metropolitan Area 2010 Pop 2016 Pop Change % △
1 16 Minneapolis-St. Paul-Bloomington, MN-WI Metro Area 3,348,859 3,551,036 202,177 6.04%
2 171 Duluth, MN-WI Metro Area 279,771 279,227 -544 -0.19%
3 192 Fargo, ND-MN Metro Area 208,777 238,124 29,347 14.06%
4 207 Rochester 206,877 215,884 9,007 4.35%
5 224 St. Cloud 189,093 195,644 6,551 3.46%
6 302 La Crosse-Onalaska, WI-MN Metro Area 133,665 136,936 3,271 2.45%
7 374 Grand Forks, ND-MN Metro Area 98,461 102,743 4,282 4.35%
8 382 Mankato-North Mankato 96,740 100,016 3,276 3.39%
9 406 Brainerd 91,067 92,933 1,866 2.05%
10 497 Faribault-Northfield 64,142 65,622 1,480 2.31%
11 538 Fergus Falls 57,303 58,085 782 1.36%
12 588 Winona 51,461 50,948 -513 -1.00%
13 619 Red Wing 46,183 46,676 493 1.07%
14 625 Bemidji 44,442 46,106 1,664 3.74%
15 639 Grand Rapids 45,058 45,242 184 0.41%
16 669 Willmar 42,239 42,495 256 0.61%
17 706 Austin 39,163 39,163 0 0.00%
18 732 Alexandria 36,009 37,456 1,447 4.02%
19 740 Owatonna 36,576 36,805 229 0.63%
20 754 Hutchinson 36,651 35,842 -809 -2.21%
21 813 Albert Lea 31,255 30,446 -809 -2.59%
22 859 Marshall 25,857 25,699 -158 -0.61%
23 864 New Ulm 25,893 25,331 -562 -2.17%
24 881 Wahpeton, ND-MN Micro Area 22,897 22,711 -186 -0.81%
25 893 Worthington 21,378 21,848 470 2.20%
26 907 Fairmont 20,840 19,829 -1,011 -4.85%

Popular Cities in Minnesota

Twin Cities

Minneapolis Skyline.

The Mecca of this northern state is a thriving metropolis known as the "twin cities." These two cities are surely fraternal twins, for despite a few similarities, Minneapolis and St. Paul differ greatly. St. Paul is the quietest of the pair. Visitors come for the historic architecture and sprawling parks, but stay for the serenity. Minneapolis, on the other hand, is flashy and exciting, with a thriving nightlife scene. The twin cities prove the cliché "opposites attract" true. Despite striking differences, the two cities complement each other perfectly.

Minneapolis and St. Paul are continuing to expand, if that is possible. As of 2008, the metro area's population was 2.87 million and growing rapidly. Currently, seven counties fall within the metro area. This number may increase as demand for housing in the sprawling twin cities suburbs continues to grow.

Saint Paul, Minnesota Skyline.

Rochester

Located in the southern region of Minnesota, the city of Rochester is best known for housing the Mayo Clinic, one of the best medical centers in the world. Given the current economic downturn, it comes as no surprise that Rochester's population is growing so quickly. After all, in addition to the 28,000 jobs provided by the Mayo Clinic, the city is home to a large and successful IBM facility. Another advantage of moving to Rochester is that it offers the sophistication of the twin cities, minus the traffic.

St. Cloud

Already the largest city in the central region of the state, St. Cloud has experienced explosive growth during the last 5 years. Many people move to St. Cloud with the intention of commuting to the twin cities. Given the growing suburban sprawl, the city is actually closer to the metro area than several of the suburbs located in the seven county twin cities metro area. Additionally, St. Cloud is a quiet haven among the growing bustle of the twin cities. It is mere minutes away from the rural farmland of central Minnesota. However, if the population surge seen in recent years continues, this may no longer be the case.

Minnesota Census Data

According to the United States Census an estimated 5,519,952 people live in the state of Minnesota. The state has 79,626.74 mi² of land area, which gave it a population density of 69.32 per mi². Here is a list of cities, towns, villages & Census Designated Places with more than 2,500 residents, with their estimated population as of June 2016 & the 2010 United States Census. For Census Designated Places (CDP) where there was no population estimate available for 2016 the 2011-2015 American Community Survey 5-Year Estimates data was used.

All table columns are sortable. Click on the column headers to sort by that column. Click again to sort low to high. Cities with higher levels of population growth typically see the increased demand drive faster real estate price appreciation.

Rank Geography County 2016 Pop 2010 Pop Change % △ Land mi² Pop Den mi²
1 Minneapolis Hennepin 413,651 382,578 31,073 8.12% 53.97 7,664.46
2 St. Paul Ramsey 302,398 285,068 17,330 6.08% 51.98 5,817.58
3 Rochester Olmsted 114,011 106,769 7,242 6.78% 54.59 2,088.50
4 Duluth St. Louis 86,293 86,265 28 0.03% 67.79 1,272.95
5 Bloomington Hennepin 85,319 82,893 2,426 2.93% 34.68 2,460.18
6 Brooklyn Park Hennepin 79,707 75,781 3,926 5.18% 26.07 3,057.42
7 Plymouth Hennepin 77,216 70,576 6,640 9.41% 32.68 2,362.79
8 Maple Grove Hennepin 69,576 61,567 8,009 13.01% 32.63 2,132.27
9 Woodbury Washington 68,820 61,961 6,859 11.07% 34.73 1,981.57
10 St. Cloud Stearns, Sherburne & Benton 67,641 65,842 1,799 2.73% 40.04 1,689.34
11 Eagan Dakota 66,428 64,206 2,222 3.46% 31.12 2,134.58
12 Eden Prairie Hennepin 63,914 60,797 3,117 5.13% 32.45 1,969.61
13 Blaine Anoka & Ramsey 62,892 57,186 5,706 9.98% 33.85 1,857.96
14 Coon Rapids Anoka 62,359 61,476 883 1.44% 22.61 2,758.03
15 Lakeville Dakota 61,938 55,954 5,984 10.69% 36.05 1,718.11
16 Burnsville Dakota 61,290 60,306 984 1.63% 24.91 2,460.46
17 Minnetonka Hennepin 52,369 49,734 2,635 5.30% 26.93 1,944.63
18 Apple Valley Dakota 51,957 49,084 2,873 5.85% 16.86 3,081.67
19 Edina Hennepin 51,350 47,941 3,409 7.11% 15.45 3,323.62
20 St. Louis Park Hennepin 48,747 45,250 3,497 7.73% 10.64 4,581.48
21 Moorhead Clay 42,492 38,065 4,427 11.63% 19.8 2,146.06
22 Mankato Blue Earth, Le Sueur & Nicollet 41,720 39,309 2,411 6.13% 17.91 2,329.42
23 Shakopee Scott 40,610 37,076 3,534 9.53% 28.01 1,449.84
24 Maplewood Ramsey 40,150 38,018 2,132 5.61% 16.98 2,364.55
25 Cottage Grove Washington 36,029 34,589 1,440 4.16% 33.62 1,071.65
26 Richfield Hennepin 35,949 35,228 721 2.05% 6.87 5,232.75
27 Roseville Ramsey 35,691 33,660 2,031 6.03% 13 2,745.46
28 Inver Grove Heights Dakota 35,077 33,880 1,197 3.53% 27.76 1,263.58
29 Andover Anoka 32,461 30,598 1,863 6.09% 33.88 958.12
30 Brooklyn Center Hennepin 30,870 30,104 766 2.54% 7.96 3,878.14
31 Savage Scott 30,807 26,911 3,896 14.48% 15.63 1,971.02
32 Oakdale Washington 28,073 27,378 695 2.54% 10.94 2,566.09
33 Fridley Anoka 27,476 27,208 268 0.99% 10.17 2,701.67
34 Winona Winona 27,139 27,592 -453 -1.64% 18.84 1,440.50
35 Shoreview Ramsey 26,548 25,043 1,505 6.01% 10.77 2,465.00
36 Ramsey Anoka 26,206 23,668 2,538 10.72% 28.81 909.61
37 Chaska Carver 26,016 23,770 2,246 9.45% 16.97 1,533.06
38 Prior Lake Scott 25,863 22,796 3,067 13.45% 15.44 1,675.06
39 Owatonna Steele 25,773 25,599 174 0.68% 14.53 1,773.78
40 White Bear Lake Ramsey & Washington 25,634 23,797 1,837 7.72% 8.02 3,196.26
41 Chanhassen Carver & Hennepin 25,469 22,952 2,517 10.97% 20.44 1,246.04
42 Austin Mower 24,720 24,718 2 0.01% 11.79 2,096.69
43 Elk River Sherburne 24,364 22,974 1,390 6.05% 42.29 576.12
44 Champlin Hennepin 24,231 23,089 1,142 4.95% 8.17 2,965.85
45 Rosemount Dakota 23,911 21,874 2,037 9.31% 33.22 719.78
46 Faribault Rice 23,662 23,352 310 1.33% 15.32 1,544.52
47 Crystal Hennepin 23,028 22,151 877 3.96% 5.78 3,984.08
48 Farmington Dakota 22,656 21,086 1,570 7.45% 14.69 1,542.27
49 Hastings Dakota & Washington 22,602 22,172 430 1.94% 10.24 2,207.23
50 New Brighton Ramsey 22,496 21,456 1,040 4.85% 6.46 3,482.35
51 Golden Valley Hennepin 21,376 20,371 1,005 4.93% 10.19 2,097.74
52 Lino Lakes Anoka 21,018 20,216 802 3.97% 28.22 744.79
53 New Hope Hennepin 20,877 20,339 538 2.65% 5.04 4,142.26
54 Northfield Rice & Dakota 20,445 20,007 438 2.19% 8.56 2,388.43
55 South St. Paul Dakota 20,217 20,160 57 0.28% 5.65 3,578.23
56 West St. Paul Dakota 19,746 19,540 206 1.05% 4.91 4,021.59
57 Columbia Heights Anoka 19,723 19,496 227 1.16% 3.41 5,783.87
58 Forest Lake Washington 19,600 18,375 1,225 6.67% 30.56 641.36
59 Willmar Kandiyohi 19,558 19,610 -52 -0.27% 14.15 1,382.19
60 Stillwater Washington 19,292 18,225 1,067 5.85% 6.96 2,771.84
61 Hopkins Hennepin 18,105 17,591 514 2.92% 4.08 4,437.50
62 Albert Lea Freeborn 17,667 18,016 -349 -1.94% 12.59 1,403.26
63 Anoka Anoka 17,400 17,142 258 1.51% 6.7 2,597.01
64 St. Michael Wright 17,295 16,399 896 5.46% 32.73 528.41
65 Sartell Stearns & Benton 17,147 15,876 1,271 8.01% 9.8 1,749.69
66 Red Wing Goodhue 16,526 16,459 67 0.41% 34.6 477.63
67 Ham Lake Anoka 16,221 15,296 925 6.05% 34.39 471.68
68 Buffalo Wright 16,103 15,453 650 4.21% 7.17 2,245.89
69 Otsego Wright 16,094 13,571 2,523 18.59% 29.56 544.45
70 Hibbing St. Louis 16,093 16,361 -268 -1.64% 181.83 88.51
71 Bemidji Beltrami 14,942 13,431 1,511 11.25% 12.92 1,156.50
72 Hugo Washington 14,532 13,332 1,200 9.00% 33.45 434.44
73 Robbinsdale Hennepin 14,461 13,953 508 3.64% 2.79 5,183.15
74 Hutchinson McLeod 13,888 14,178 -290 -2.05% 8.6 1,614.88
75 Marshall Lyon 13,664 13,680 -16 -0.12% 10.07 1,356.90
76 Sauk Rapids Benton 13,631 12,773 858 6.72% 6.1 2,234.59
77 North Mankato Nicollet & Blue Earth 13,619 13,394 225 1.68% 5.87 2,320.10
78 Alexandria Douglas 13,568 11,070 2,498 22.57% 15.96 850.13
79 Monticello Wright 13,429 12,759 670 5.25% 8.94 1,502.13
80 Fergus Falls Otter Tail 13,419 13,138 281 2.14% 14.11 951.03
81 Brainerd Crow Wing 13,349 13,590 -241 -1.77% 11.9 1,121.76
82 New Ulm Brown 13,342 13,522 -180 -1.33% 9.92 1,344.96
83 Vadnais Heights Ramsey 13,321 12,302 1,019 8.28% 6.98 1,908.45
84 Worthington Nobles 13,136 12,764 372 2.91% 7.34 1,789.65
85 Mounds View Ramsey 12,952 12,155 797 6.56% 4.03 3,213.90
86 Rogers Hennepin 12,748 8,597 4,151 48.28% 8.05 1,583.60
87 North St. Paul Ramsey 12,338 11,460 878 7.66% 2.85 4,329.12
88 Cloquet Carlton 12,111 12,124 -13 -0.11% 35.2 344.06
89 Waconia Carver 11,964 10,697 1,267 11.84% 4.34 2,756.68
90 East Bethel Anoka 11,713 11,626 87 0.75% 44.8 261.45
91 St. Peter Nicollet 11,692 11,196 496 4.43% 5.59 2,091.59
92 White Bear township Ramsey 11,621 10,949 672 6.14% 7.3 1,591.92
93 Mendota Heights Dakota 11,280 11,071 209 1.89% 9.15 1,232.79
94 Grand Rapids Itasca 11,211 10,869 342 3.15% 22.56 496.94
95 Big Lake Sherburne 10,638 10,060 578 5.75% 6.91 1,539.51
96 Little Canada Ramsey 10,344 9,773 571 5.84% 3.89 2,659.13
97 Arden Hills Ramsey 10,324 9,552 772 8.08% 8.59 1,201.86
98 North Branch Chisago 10,317 10,125 192 1.90% 35.6 289.80
99 Fairmont Martin 10,115 10,666 -551 -5.17% 15.04 672.54
100 Hermantown St. Louis 9,451 9,414 37 0.39% 34.35 275.14
101 Mound Hennepin 9,394 9,052 342 3.78% 2.85 3,296.14
102 Detroit Lakes Becker 9,165 8,569 596 6.96% 10.22 896.77
103 Waseca Waseca 9,074 9,410 -336 -3.57% 4 2,268.50
104 St. Anthony Hennepin & Ramsey 9,007 8,226 781 9.49% 2.25 4,003.11
105 Victoria Carver 8,917 7,345 1,572 21.40% 8.01 1,113.23
106 Lake Elmo Washington 8,815 8,069 746 9.25% 22.25 396.18
107 Thief River Falls Pennington 8,796 8,573 223 2.60% 5.02 1,752.19
108 East Grand Forks Polk 8,699 8,601 98 1.14% 5.91 1,471.91
109 Little Falls Morrison 8,689 8,343 346 4.15% 7.24 1,200.14
110 Cambridge Isanti 8,677 8,111 566 6.98% 7.46 1,163.14
111 Oak Grove Anoka 8,545 8,031 514 6.40% 33.85 252.44
112 Virginia  St. Louis 8,523 8,712 -189 -2.17% 18.85 452.15
113 Mahtomedi Washington 8,211 7,676 535 6.97% 3.49 2,352.72
114 Baxter Crow Wing 8,198 7,610 588 7.73% 18.39 445.79
115 Orono Hennepin 8,009 7,437 572 7.69% 15.98 501.19
116 Wyoming Chisago 7,856 7,791 65 0.83% 20.26 387.76
117 Crookston Polk 7,804 7,891 -87 -1.10% 5.15 1,515.34
118 Big Lake township Sherburne 7,757 7,386 371 5.02% 38.58 201.06
119 Shorewood Hennepin 7,642 7,307 335 4.58% 5.34 1,431.09
120 New Prague Scott & Le Sueur 7,635 7,321 314 4.29% 3.81 2,003.94
121 St. Francis Anoka & Isanti 7,466 7,218 248 3.44% 23.53 317.30
122 Waite Park Stearns 7,428 6,715 713 10.62% 8.9 834.61
123 Albertville Wright 7,401 7,044 357 5.07% 4.37 1,693.59
124 Minnetrista Hennepin 7,397 6,384 1,013 15.87% 25.82 286.48
125 Baldwin township Sherburne 7,051 6,739 312 4.63% 32.98 213.80
126 Belle Plaine Scott 7,009 6,661 348 5.22% 5.91 1,185.96
127 St. Joseph Stearns 6,743 6,534 209 3.20% 3.89 1,733.42
128 Litchfield Meeker 6,648 6,726 -78 -1.16% 4.43 1,500.68
129 Spring Lake Park Anoka & Ramsey 6,472 6,412 60 0.94% 1.98 3,268.69
130 Kasson Dodge 6,264 5,931 333 5.61% 3 2,088.00
131 Livonia township Sherburne 6,253 5,951 302 5.07% 31 201.71
132 Medina Hennepin 6,240 4,892 1,348 27.56% 25.45 245.19
133 Jordan Scott 6,143 5,470 673 12.30% 3.29 1,867.17
134 Stewartville Olmsted 6,089 5,916 173 2.92% 3.04 2,002.96
135 International Falls Koochiching 6,068 6,424 -356 -5.54% 6.42 945.17
136 Delano Wright 5,962 5,464 498 9.11% 4.05 1,472.10
137 Lower Red Lake UT Beltrami 5,854 5,790 64 1.11% 140.79 41.58
138 Corcoran Hennepin 5,686 5,379 307 5.71% 35.72 159.18
139 Isanti Isanti 5,594 5,251 343 6.53% 4.81 1,162.99
140 Falcon Heights Ramsey 5,554 5,321 233 4.38% 2.23 2,490.58
141 First Assessment UT Crow Wing 5,519 5,424 95 1.75% 32.09 171.99
142 Credit River township Scott 5,516 5,096 420 8.24% 23.37 236.03
143 Glencoe McLeod 5,503 5,631 -128 -2.27% 3.22 1,709.01
144 Zimmerman Sherburne 5,499 5,228 271 5.18% 3.42 1,607.89
145 Byron Olmsted 5,392 4,914 478 9.73% 2.91 1,852.92
146 Dayton Hennepin & Wright 5,387 4,671 716 15.33% 23.25 231.70
147 St. Paul Park Washington 5,381 5,279 102 1.93% 2.99 1,799.67
148 Linwood township Anoka 5,370 5,123 247 4.82% 33.24 161.55
149 Morris Stevens 5,295 5,286 9 0.17% 4.8 1,103.13
150 Montevideo Chippewa 5,207 5,383 -176 -3.27% 4.77 1,091.61
151 Thomson township Carlton 5,133 5,003 130 2.60% 39.65 129.46
152 North Oaks Ramsey 5,099 4,469 630 14.10% 6.92 736.85
153 Chisago City Chisago 5,062 4,967 95 1.91% 12.53 403.99
154 Lake City Wabasha & Goodhue 5,042 5,063 -21 -0.41% 4.5 1,120.44
155 Becker township Sherburne 5,018 4,842 176 3.63% 53.38 94.01
156 Redwood Falls Redwood & Renville 5,015 5,254 -239 -4.55% 5.25 955.24
157 Circle Pines Anoka 4,955 4,918 37 0.75% 1.78 2,783.71
158 Chisholm St. Louis 4,940 4,976 -36 -0.72% 4.48 1,102.68
159 Oak Park Heights Washington 4,845 4,339 506 11.66% 2.98 1,625.84
160 La Crescent Houston & Winona 4,822 4,830 -8 -0.17% 2.94 1,640.14
161 Becker Sherburne 4,785 4,538 247 5.44% 10.55 453.55
162 Chisago Lake township Chisago 4,710 4,656 54 1.16% 43.26 108.88
163 Princeton Mille Lacs & Sherburne 4,707 4,698 9 0.19% 4.96 948.99
164 Luverne Rock 4,658 4,745 -87 -1.83% 3.68 1,265.76
165 Nowthen Anoka 4,641 4,443 198 4.46% 33.56 138.29
166 Carver Carver 4,628 3,724 904 24.27% 4 1,157.00
167 Elko New Market Scott 4,625 4,110 515 12.53% 3.35 1,380.60
168 Wayzata Hennepin 4,522 3,688 834 22.61% 3.08 1,468.18
169 Windom Cottonwood 4,519 4,646 -127 -2.73% 4.16 1,086.30
170 Northern township Beltrami 4,500 4,657 -157 -3.37% 26.73 168.35
171 Lindstrom Chisago 4,457 4,442 15 0.34% 3.6 1,238.06
172 St. James Watonwan 4,447 4,605 -158 -3.43% 2.4 1,852.92
173 Dilworth Clay 4,397 4,024 373 9.27% 3.31 1,328.40
174 Sauk Centre Stearns 4,366 4,317 49 1.14% 3.99 1,094.24
175 Rockford Wright & Hennepin 4,357 4,316 41 0.95% 2.61 1,669.35
176 Watertown Carver 4,316 4,205 111 2.64% 2.59 1,666.41
177 La Grand township Douglas 4,248 4,210 38 0.90% 24.9 170.60
178 Grant Washington 4,145 4,096 49 1.20% 25.1 165.14
179 Wadena Wadena & Otter Tail 4,134 4,088 46 1.13% 5.38 768.40
180 West Lakeland township Washington 4,133 4,046 87 2.15% 12.32 335.47
181 Rice Lake township St. Louis 4,119 4,095 24 0.59% 32.41 127.09
182 Cold Spring Stearns 4,108 4,025 83 2.06% 2.67 1,538.58
183 Cannon Falls Goodhue 4,106 4,083 23 0.56% 4.35 943.91
184 Pipestone Pipestone 4,106 4,317 -211 -4.89% 4.18 982.30
185 Goodview Winona 4,099 4,036 63 1.56% 2.25 1,821.78
186 Alexandria township Douglas 4,094 4,098 -4 -0.10% 20.47 200.00
187 Scandia Washington 4,086 3,936 150 3.81% 34.8 117.41
188 Columbus Anoka 4,016 3,914 102 2.61% 44.92 89.40
189 Le Sueur Le Sueur & Nicollet 3,979 4,058 -79 -1.95% 5.37 740.97
190 Centerville Anoka 3,953 3,792 161 4.25% 2.13 1,855.87
191 Park Rapids Hubbard 3,935 3,709 226 6.09% 6.59 597.12
192 Lonsdale Rice 3,896 3,674 222 6.04% 2.73 1,427.11
193 Deephaven Hennepin 3,843 3,642 201 5.52% 2.37 1,621.52
194 Marion township Olmsted 3,780 3,653 127 3.48% 29.5 128.14
195 Independence Hennepin 3,740 3,504 236 6.74% 32.37 115.54
196 Rainy Lake UT Koochiching 3,732 4,048 -316 -7.81% 351.7 10.61
197 St. Charles Winona 3,720 3,735 -15 -0.40% 3.86 963.73
198 Norwood Young America Carver 3,680 3,549 131 3.69% 2.52 1,460.32
199 Eveleth St. Louis 3,647 3,718 -71 -1.91% 6.29 579.81
200 Spring Lake township Scott 3,640 3,631 9 0.25% 28.2 129.08
201 St. Augusta Stearns 3,623 3,317 306 9.23% 29.66 122.15
202 Melrose Stearns 3,611 3,598 13 0.36% 3.19 1,131.97
203 New Market township Scott 3,567 3,440 127 3.69% 32.47 109.86
204 Two Harbors Lake 3,562 3,745 -183 -4.89% 3.3 1,079.39
205 Deer Lake UT Itasca 3,519 3,495 24 0.69% 183.3 19.20
206 Orrock township Sherburne 3,505 3,451 54 1.56% 34.8 100.72
207 Newport Washington 3,481 3,435 46 1.34% 3.63 958.95
208 Collegeville township Stearns 3,460 3,343 117 3.50% 31.71 109.11
209 Mora Kanabec 3,453 3,571 -118 -3.30% 5 690.60
210 Sleepy Eye Brown 3,445 3,599 -154 -4.28% 1.75 1,968.57
211 Bayport Washington 3,426 3,471 -45 -1.30% 1.75 1,957.71
212 Bradford township Isanti 3,426 3,380 46 1.36% 34.13 100.38
213 Zumbrota Goodhue 3,409 3,252 157 4.83% 2.67 1,276.78
214 Ely St. Louis 3,390 3,460 -70 -2.02% 2.73 1,241.76
215 Hanover Wright & Hennepin 3,360 2,938 422 14.36% 5.45 616.51
216 Pine Island Goodhue & Olmsted 3,360 3,263 97 2.97% 5.59 601.07
217 Long Prairie Todd 3,334 3,458 -124 -3.59% 2.61 1,277.39
218 Annandale Wright 3,315 3,228 87 2.70% 2.97 1,116.16
219 Perham Otter Tail 3,300 2,985 315 10.55% 3.18 1,037.74
220 Rockford township Wright 3,283 3,194 89 2.79% 33.04 99.36
221 Monticello township  Wright 3,279 3,181 98 3.08% 37.15 88.26
222 Breckenridge Wilkin 3,270 3,386 -116 -3.43% 2.46 1,329.27
223 Harris township Itasca 3,269 3,253 16 0.49% 32 102.16
224 Plainview Wabasha 3,239 3,340 -101 -3.02% 2.16 1,499.54
225 Jackson Jackson 3,238 3,299 -61 -1.85% 4.58 706.99
226 White township St. Louis 3,223 3,229 -6 -0.19% 105.37 30.59
227 Blue Earth Faribault 3,211 3,353 -142 -4.24% 3.27 981.96
228 Watab township Benton 3,140 3,093 47 1.52% 20.31 154.60
229 Rush City Chisago 3,132 3,079 53 1.72% 4.25 736.94
230 Montrose Wright 3,102 2,847 255 8.96% 3.2 969.38
231 Benson Swift 3,101 3,240 -139 -4.29% 3 1,033.67
232 Lent township Chisago 3,082 3,091 -9 -0.29% 32.42 95.06
Arnold CDP St. Louis 3,071 2,960 111 3.75% 11.54 266.12
233 Pine City Pine 3,065 3,123 -58 -1.86% 3.43 893.59
234 Proctor St. Louis 3,059 3,057 2 0.07% 3 1,019.67
235 Bemidji township Beltrami 3,017 3,134 -117 -3.73% 20.63 146.24
236 Afton Washington 2,991 2,886 105 3.64% 25.05 119.40
237 New London township Kandiyohi 2,949 2,943 6 0.20% 24.91 118.39
238 Greenfield Hennepin 2,948 2,777 171 6.16% 20.4 144.51
239 Montgomery Le Sueur 2,907 2,956 -49 -1.66% 2.62 1,109.54
240 Milaca Mille Lacs 2,901 2,946 -45 -1.53% 3.21 903.74
241 Staples Todd & Wadena 2,898 2,981 -83 -2.78% 4.66 621.89
242 Cedar Lake township Scott 2,883 2,779 104 3.74% 35.12 82.09
243 Mountain Iron St. Louis 2,869 2,869 0 0.00% 68.52 41.87
244 Cascade township Olmsted 2,851 2,815 36 1.28% 12.12 235.23
245 May township Washington 2,839 2,776 63 2.27% 33.9 83.75
246 Franklin township Wright 2,836 2,760 76 2.75% 41.33 68.62
247 Moose Lake Carlton 2,832 2,751 81 2.94% 3.27 866.06
248 Chatfield Fillmore & Olmsted 2,804 2,779 25 0.90% 2.64 1,062.12
249 Wakefield township Stearns 2,792 2,756 36 1.31% 29.95 93.22
250 Grand Lake township St. Louis 2,789 2,779 10 0.36% 65.88 42.33
251 Caledonia Houston 2,786 2,868 -82 -2.86% 2.84 980.99
252 Brockway township Stearns 2,763 2,702 61 2.26% 47.46 58.22
253 Granite Falls Yellow Medicine & Chippewa 2,757 2,897 -140 -4.83% 3.59 767.97
254 Roseau Roseau 2,754 2,633 121 4.60% 2.67 1,031.46
255 Cokato Wright 2,731 2,694 37 1.37% 1.56 1,750.64
256 Cohasset Itasca 2,728 2,698 30 1.11% 26.8 101.79
257 Dodge Center Dodge 2,702 2,670 32 1.20% 2.08 1,299.04
258 Sylvan township Cass 2,694 2,702 -8 -0.30% 30.8 87.47
259 Albany Stearns 2,668 2,561 107 4.18% 2.11 1,264.45
260 Foley Benton 2,652 2,603 49 1.88% 2.51 1,056.57
261 Sandstone Pine 2,650 2,849 -199 -6.98% 5.26 503.80
262 Pokegama township Pine 2,650 2,743 -93 -3.39% 51.01 51.95
263 Hassan township Hennepin 2,600 2,600 0 0.00% 17.44 149.08
264 Barnesville Clay 2,576 2,563 13 0.51% 2.2 1,170.91
265 Glenwood Pope 2,562 2,564 -2 -0.08% 5.86 437.20
266 Rockville Stearns 2,526 2,448 78 3.19% 28.42 88.88

Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2016
Source: U.S. Census Bureau, Population Division
Release Date: May 2017.
For townships & CDP with fewer than 5,000 residents, the 2011-2015 American Community Survey 5-Year Estimates was used.

Real Estate Prices In Minnesota

Real estate prices vary greatly throughout the state of Minnesota. Overall, Minnesota real estate prices tend to be slightly lower than the United States median. Of course, real estate listings of the entire Midwest region of the nation are consistently much lower than the nation's averages. In fact, homes in Minnesota are on average, listed for almost twice the price of those in Michigan, Ohio and Indiana.

Statistics regarding real estate prices tend to be misleading in Minnesota. The data is highly skewed by the difference in prices between real estate located in or around the twin cities metro area, as opposed to real estate elsewhere in the state. Listing prices in Minneapolis, St. Paul and the surrounding suburbs are significantly higher than the nation's average. Average homes sell for over $300,000, a figure that has remained surprisingly stable, despite the housing collapse.

The expensive real estate in the twin cities most likely stems from the area's growing demand. The metro area was one of few cities to retain a relatively low unemployment rate and a high standard of living during the recession. Many people are relocating to the twin cities in search of jobs and this demand is driving up real estate prices, even in the midst of a housing crisis.

One region that features surprisingly high priced real estate is the land along the Canadian border, especially in Koochiching County. Typically, those who choose to invest in real estate in this area do so in hopes of owning a vacation home. Many of the expensive houses sold here sit empty most of the year.

Housing prices in the western and southern regions of the state are on average, significantly lower than average listing prices in the rest of the United States. This is especially true of the counties that border North and South Dakota. Homes typically sell for under $80,000 in these regions.

Mortgages Offered in Minnesota

As of 2017 the conforming loan limit across the United States is set to $424,100, with a ceiling of 150% that amount in areas where median home values are higher. High local affordability makes the $424,100 ceiling apply statewide for single unit homes. Dual unit homes have a limit of $543,000, triple unit homes have a limit of $656,350 & quadruple unit homes have a limit of $815,650. People buying premium properties in the twin cities may be above these thresholds, requiring a jumbo loan. Jumbo loans typically have a slightly higher rate of interest than conforming mortgages, though spreads vary based on credit market conditions.

The following types of mortgages are currently available in Minnesota:

  • FHA loans
  • Adjustable rate mortgages
  • Fixed rate mortgages
  • VA loans
  • Equity Loans
  • Reverse mortgages
  • Streamlined-K Mortgage Loans

Currently, the most sought after mortgage in the state is the FHA. FHA loans are meant for middle income families that are not capable of making a large down payment on a home. There are several types of FHA loans available in Minnesota.

These include:

  • FHA Adjustable Rate mortgage
  • FHA Fixed Rate loan
  • FHA Energy Efficient Mortgage program
  • FHA condominium loans
  • FHA Graduate Payment loans.

Recently, young borrowers in Minnesota have been taking advantage of low housing prices and interest rates. As such, the FHA Fixed Rate Mortgage has been used extensively by younger Minnesotans, especially newlyweds and recent college grads. Most choose the 203(b), a fixed rate loan popular with first-time home buyers, because it keeps down payments and closing costs.

For years, the most common type of mortgage in Minnesota has been the fixed rate mortgage. This was especially true of homes in the suburbs of the twin cities. Families who took mortgages on these houses usually intended to remain in them for several decades. Today, fixed rate mortgages are still common in Minnesota, but they are no longer dominant among mortgage options. This is mostly due to the increased frequency with which Minnesotans move. Although they typically remain in the state, few are willing or able to remain in the same house for more than a few years, especially if they secure employment on the other side of the twin cities metro. As such, adjusted rate mortgages have seen a rapid increase in popularity in the last decade. Typically, Minnesotans who choose adjusted rate mortgages prefer 5/1 adjusted rate mortgages.

Overall, mortgage rates in Minnesota are lower than the nation's average. This is mostly due to the popularity of FHA mortgages, as well as the increasing popularity of adjusted rate mortgages. Both of these types of mortgages are considered low-risk. As a result, the starting interest rates for these loans are much lower than the rates of loans that involve higher risks. Adjusted rate mortgages have the potential of becoming pricy, depending on the interest rate level. Interest rates on these mortgages are currently very low, due to the poor state of the economy. So, while Minnesotans' mortgages are less expensive on average than mortgages in other states, there is no guarantee that they will remain inexpensive in the future.

  • USDA loans can help people with low incomes in rural parts of the state qualify for a subsidized low-interest loan.
  • Natural Disasters

Flood Insurance

Homeowner's insurance policies typically do not cover flooding. Most of the state of Minnesota is considered to have a very low flooding risk. The following counties have a low flooding risk: Sherburne & Washington. Anoka, Benton, Chisago, Clay, Goodue, Isanti, Mille Lacs, Norman & Pine counties have a moderate flooding risk.

Home buyers with mortgages in high-risk areas are required to buy flood insurance. Most flood insurance policies are sold by the United States federal government through The National Flood Insurance Program. Under-priced flood insurance in high-risk areas act as a subsidy to wealthy homeowners.

The NFIP does not charge nearly enough to cover the expected costs of its liabilities. The assessments are not sufficient to build any buffer to cover an extraordinary year, such as what occurred with Hurricane Katrina in 2005 or Hurricane Sandy in 2012. Because homeowners don€™t incur the full cost of building in a flood zone we end up with more houses there than if homeowners incurred the full cost of the flood risk, which exacerbates the government€™s costs in the next disaster.

Homeowners who live in lower risk areas & are not required to purchase flood insurance heavily cross-subsidize homeowners who are in areas where floods are more common.

Wildfires

The risk of wildfires is considered moderate in the northeast portion of the state. Fire damages from wildfires & other types of fires are typically covered in most homeowner's insurance policies. If you own expensive items you may want to keep an up-to-date household inventory list which lists specific valuables, such as fine art & jewelry.

Tornadoes

Parts of the state are considered to have a moderate to high tornado risk. A basic homeowners policy should cover financial damages from tornadoes.

Hail

Hail damage is common across the state. Damage from hail is typically covered by home insurance policies.

Specific Mortgage Laws in Minnesota

As of 2007, "no documentation" and "low documentation" mortgages and loans are prohibited in Minnesota. This law was a response to the skyrocketing rates of loan defaults.

In Minnesota, judicial and non-judicial foreclosures are both allowed. Those who choose judicial foreclosures must file a lawsuit. They are also required to obtain a court order for the foreclosed property to be sold. Mortgages that include power of sale clauses can be foreclosed by advertisement, provided the house is in default and there is no current lawsuit surrounding the foreclosure.