Shorewood, MN—55331
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Shorewood, MN
As of Oct '25, the median home price in Shorewood, MN is $801,000, with a year-over-year change of 2.4%. This indicates that home prices in Shorewood, MN are increasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $801,000 | 2.4% |
| Single Family | $802,000 | 2.2% |
| Condos | $738,000 | -3.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $870,000 | 5.2% |
2 Bed | $601,000 | 3.8% |
3 Bed | $646,000 | 2.4% |
4 Bed | $863,000 | 2.4% |
| 5 Bed | $1,222,000 | 2.6% |
% of Housing Stock
Rental Trends — Shorewood, MN
As of July '25, Rentcast reports the average rent in Shorewood, MN is $3,930, with a year-over-year rent change of 2.3%. Per bedroom, the median rent as of July '25 in Shorewood, MN is studios: $1,300, 1-bedrooms: $1,330, 2-bedrooms: $3,840, 3-bedrooms: $4,270, 4-bedrooms: $6,560. The most common rental property sizes in Shorewood, MN are 1-bedroom and 2-bedroom, accounting for 46.6% and 24.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,840 | $3,930 |
| Studio Rent | $999 | $1,300 |
| 1 Bed Rent | $1,060 | $1,330 |
| 2 Bed Rent | $2,500 | $3,840 |
| 3 Bed Rent | $2,840 | $4,270 |
| 4 Bed Rent | $6,000 | $6,560 |
% of Rental Stock
Property Listings — Shorewood, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Shorewood, MN is 58. This is a increase of 13.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,480,000 | 19.0% |
Listing Count | 133 | -4.0% |
| Listings as % of Homes | 0.7% | -4.0% |
Days on Market | 58 | 13.0% |
Demographics — Shorewood, MN
As of the latest ACS Survey released in 2023, Shorewood, MN has a population of 19,300, which has increased by 4.4% over the past 5 years. Shorewood, MN is a moderately popular place for families, as children make up 22.9% of the population. The area has a highly educated workforce, with 71.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 32.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,300 | 4.4% |
% Under 18 | 22.9% | -4.6% |
% Seniors | 17.7% | 6.6% |
% WFH | 32.9% | 257.6% |
% w/ College Degree | 71.1% | 12.5% |
As of the latest ACS Survey released in 2023, Shorewood, MN is a predominantly white area, with 91.0% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Shorewood, MN is hispanic, making up 3.3% of the population. Foreign-born residents account for 4.6% of the population in Shorewood, MN, and this percentage has decreased by 23.3% 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 | 91.0% | -1.3% |
% Black | 0.6% | 20.0% |
% Hispanic | 3.3% | -25.0% |
% Asian | 1.4% | -6.7% |
% Foreign Born | 4.6% | -23.3% |
Mortgage and Risk — Shorewood, MN
According to HUD data as of 2023, there were 317 mortgage originations in Shorewood, MN, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 46.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Shorewood, MN. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 317 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Shorewood, MN
As of 2024, the percent of homes in Shorewood, MN under the Section 8 program is 7.5%. 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 Shorewood, 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 | 71 |
Total Units Section 8 | 71 |
% Rentals under Section 8 | 7.5% |
% Occupied Section 8 | 79.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $180 | $1,060 | $1,240 |
| 2 Bedroom | -$990 | $2,500 | $1,510 |
| 3 Bedroom | -$830 | $2,840 | $2,010 |
| 4 Bedroom | -$3,750 | $6,000 | $2,250 |
Affordability — Shorewood, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $801,000 |
| Median Household Income | $160,000 |