Inver Grove Heights, MN—55077
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 $556,000, with a year-over-year change of 2.1%. 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 | $556,000 | 2.1% |
| Single Family | $577,000 | 1.9% |
| Condos | $202,000 | 3.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $283,000 | 1.4% |
3 Bed | $443,000 | 2.5% |
4 Bed | $604,000 | 1.3% |
| 5 Bed | $717,000 | 1.1% |
% of Housing Stock
Rental Trends — Inver Grove Heights, MN
As of July '25, Rentcast reports the average rent in Inver Grove Heights, MN is $2,420, with a year-over-year rent change of -8.0%. Per bedroom, the median rent as of July '25 in Inver Grove Heights, MN is 1-bedrooms: $1,430, 2-bedrooms: $2,560, 3-bedrooms: $2,750, 4-bedrooms: $3,500. The most common rental property sizes in Inver Grove Heights, MN are 2-bedroom and 1-bedroom, accounting for 55.1% and 19.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,410 | $2,420 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,270 | $1,430 |
| 2 Bed Rent | $2,410 | $2,560 |
| 3 Bed Rent | $2,850 | $2,750 |
| 4 Bed Rent | $3,050 | $3,500 |
% 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 55. This is a increase of 10.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $606,000 | 11.0% |
Listing Count | 58 | 9.0% |
| Listings as % of Homes | 0.7% | 9.0% |
Days on Market | 55 | 10.0% |
Demographics — Inver Grove Heights, MN
As of the latest ACS Survey released in 2023, Inver Grove Heights, MN has a population of 14,600, which has increased by 8.2% over the past 5 years. Inver Grove Heights, MN is a popular place for families, as children make up 25.4% of the population. The area has a highly educated workforce, with 49.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,600 | 8.2% |
% Under 18 | 25.4% | 7.6% |
% Seniors | 12.3% | -7.5% |
% WFH | 26.2% | 434.7% |
% w/ College Degree | 49.8% | 23.3% |
As of the latest ACS Survey released in 2023, Inver Grove Heights, MN is a predominantly white area, with 71.3% of the population identifying as white. The white population has shrunk by 3.3% in the last 5 years. The second most common race or ethnicity in Inver Grove Heights, MN is hispanic, making up 12.5% of the population. Foreign-born residents account for 12.4% of the population in Inver Grove Heights, MN, and this percentage has increased by 12.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 71.3% | -3.3% |
% Black | 6.1% | 1.7% |
% Hispanic | 12.5% | 7.8% |
% Asian | 6.3% | -10.0% |
% Foreign Born | 12.4% | 12.7% |
Mortgage and Risk — Inver Grove Heights, MN
According to HUD data as of 2023, there were 179 mortgage originations in Inver Grove Heights, MN, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Inver Grove Heights, MN. Investor activity is low, as 1.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 179 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 4.0% |
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 1.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-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 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 40 |
Total Units Section 8 | 40 |
% Rentals under Section 8 | 1.9% |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $120 | $1,270 | $1,390 |
| 2 Bedroom | -$710 | $2,410 | $1,700 |
| 3 Bedroom | -$590 | $2,850 | $2,260 |
| 4 Bedroom | -$510 | $3,050 | $2,540 |
Affordability — Inver Grove Heights, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $556,000 |
| Median Household Income | $108,000 |