Inver Grove Heights, MN—55076
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Inver Grove Heights, MN
Home Price Trends — Inver Grove Heights, MN
As of Oct '25, the median home price in Inver Grove Heights, MN is $322,000, with a year-over-year change of 2.3%. This indicates that home prices in Inver Grove Heights, MN are increasing. According to Zillow, the 1-year price projection is -0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $322,000 | 2.3% |
| Single Family | $337,000 | 2.7% |
| Condos | $201,000 | 1.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $258,000 | 0.4% |
3 Bed | $336,000 | 2.8% |
4 Bed | $412,000 | 2.5% |
| 5 Bed | $500,000 | 2.7% |
% of Housing Stock
Rental Trends — Inver Grove Heights, MN
As of July '25, Rentcast reports the average rent in Inver Grove Heights, MN is $2,040, with a year-over-year rent change of 13.3%. Per bedroom, the median rent as of July '25 in Inver Grove Heights, MN is 1-bedrooms: $1,080, 2-bedrooms: $1,740, 3-bedrooms: $2,260, 4-bedrooms: $3,700. The most common rental property sizes in Inver Grove Heights, MN are 2-bedroom and 1-bedroom, accounting for 50.7% and 25.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,950 | $2,040 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $650 | $1,080 |
| 2 Bed Rent | $1,620 | $1,740 |
| 3 Bed Rent | $2,000 | $2,260 |
| 4 Bed Rent | $3,700 | $3,700 |
% of Rental Stock
Property Listings — Inver Grove Heights, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Inver Grove Heights, MN is 40. This is a increase of 25.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $327,000 | 11.0% |
Listing Count | 63 | 9.0% |
| Listings as % of Homes | 0.6% | 9.0% |
Days on Market | 40 | 25.0% |
Demographics — Inver Grove Heights, MN
As of the latest ACS Survey released in 2023, Inver Grove Heights, MN has a population of 21,300, which has decreased by -2.0% over the past 5 years. Inver Grove Heights, MN is a moderately popular place for families, as children make up 18.3% of the population. The area has a moderately educated workforce, with 38.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,300 | -2.0% |
% Under 18 | 18.3% | -16.8% |
% Seniors | 20.2% | 19.5% |
% WFH | 19.0% | 475.8% |
% w/ College Degree | 38.9% | 17.9% |
As of the latest ACS Survey released in 2023, Inver Grove Heights, MN is a predominantly white area, with 75.7% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Inver Grove Heights, MN is hispanic, making up 14.0% of the population. Foreign-born residents account for 8.9% of the population in Inver Grove Heights, MN, and this percentage has decreased by 13.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 75.7% | -2.8% |
% Black | 4.9% | 32.4% |
% Hispanic | 14.0% | 19.7% |
% Asian | 3.0% | -26.8% |
% Foreign Born | 8.9% | -13.6% |
Mortgage and Risk — Inver Grove Heights, MN
According to HUD data as of 2023, there were 497 mortgage originations in Inver Grove Heights, MN, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Inver Grove Heights, MN. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 497 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Inver Grove Heights, MN
As of 2024, the percent of homes in Inver Grove Heights, MN under the Section 8 program is 16.8%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Inver Grove Heights, MN, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 291 |
Total Units Section 8 | 252 |
% Rentals under Section 8 | 16.8% |
% Occupied Section 8 | 95.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $750 | $650 | $1,400 |
| 2 Bedroom | $90 | $1,620 | $1,710 |
| 3 Bedroom | $280 | $2,000 | $2,280 |
| 4 Bedroom | -$1,150 | $3,700 | $2,550 |
Affordability — Inver Grove Heights, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $322,000 |
| Median Household Income | $98,000 |