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Burnsville, MN—55337

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$342,000
2.1% YoY Growth
Household Income
$81,600
16.6% YoY Growth
Days on Market
57
11.0% Longer YoY
Home Price Forecast
0.0%
Median Rent
$1,570
2.2% YoY Growth
1-Bed Rent
$1,240
5.0% YoY Growth
2-Bed Rent
$1,650
5.8% YoY Growth
3-Bed Rent
$2,200
13.6% YoY Growth

Other Zip Codes in Burnsville, MN

55306
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Burnsville, MN

As of Dec '25, the median home price in Burnsville, MN is $342,000, with a year-over-year change of 2.1%. This indicates that home prices in Burnsville, MN are increasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$342,0002.1%
Single Family $362,0002.0%
Condos $165,0001.2%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $103,000
    -3.7%
    2 Bed
    		$236,0000.0%
    3 Bed
    		$341,0002.4%
    4 Bed
    		$395,0001.3%
    5 Bed $428,6600.8%
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    % of Housing Stock

    Studio
    2.6%
    1 Bedroom
    15.2%
    2 Bedrooms
    25.4%
    3 Bedrooms
    30.0%
    4 Bedrooms
    21.1%
    5+ Bedrooms
    5.7%

    Rental Trends — Burnsville, MN

    As of July '25, Rentcast reports the average rent in Burnsville, MN is $1,740, with a year-over-year rent change of -2.2%. Per bedroom, the median rent as of July '25 in Burnsville, MN is studios: $1,210, 1-bedrooms: $1,260, 2-bedrooms: $1,640, 3-bedrooms: $2,260, 4-bedrooms: $2,920. The most common rental property sizes in Burnsville, MN are 2-bedroom and 1-bedroom, accounting for 39.2% and 37.8% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,570$1,740
    Studio Rent $1,240$1,210
    1 Bed Rent $1,240$1,260
    2 Bed Rent $1,650$1,640
    3 Bed Rent $2,200$2,260
    4 Bed Rent $2,780$2,920
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    % of Rental Stock

    Studio
    6.8%
    1 Bedroom
    37.8%
    2 Bedrooms
    39.2%
    3 Bedrooms
    13.1%
    4 Bedrooms
    2.5%
    5+ Bedrooms
    0.7%

    Property Listings — Burnsville, MN

    As of Dec '25, Realtor.com reports that the median days on market for a home in Burnsville, MN is 43. This is a increase of 9.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$319,00016.0%
    Listing Count
    		97-6.0%
    Listings as % of Homes0.4%-6.0%
    Days on Market
    		5711.0%
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    Demographics — Burnsville, MN

    As of the latest ACS Survey released in 2023, Burnsville, MN has a population of 48,100, which has increased by 6.5% over the past 5 years. Burnsville, MN is a moderately popular place for families, as children make up 23.0% of the population. The area has a moderately educated workforce, with 39.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.6% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		48,1006.5%
    % Under 18
    		23.0%2.2%
    % Seniors
    		16.2%3.2%
    % WFH
    		16.6%238.8%
    % w/ College Degree
    		39.0%0.8%
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    As of the latest ACS Survey released in 2023, Burnsville, MN is a predominantly white area, with 61.7% of the population identifying as white. The white population has shrunk by 12.9% in the last 5 years. The second most common race or ethnicity in Burnsville, MN is black, making up 13.9% of the population. Foreign-born residents account for 14.0% of the population in Burnsville, MN, and this percentage has decreased by 2.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		61.7%-12.9%
    % Black
    		13.9%-0.7%
    % Hispanic
    		11.1%91.4%
    % Asian
    		6.0%27.7%
    % Foreign Born
    		14.0%-2.1%
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    Mortgage and Risk — Burnsville, MN

    According to HUD data as of 2023, there were 390 mortgage originations in Burnsville, MN, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Burnsville, MN. Investor activity is low, as 3.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		390
    % Conventional Loans
    		86.0%
    % Government Loans
    		14.0%
    % Investor Loans
    		3.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		6.0%
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    Rentals and Section 8 — Burnsville, MN

    As of 2024, the percent of homes in Burnsville, MN under the Section 8 program is 8.4%. 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 and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Burnsville, MN, because HUD payments exceed market rent, while 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		661
    Total Units Section 8
    		552
    % Rentals under Section 8
    		8.4%
    % Occupied Section 8
    		94.8%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$220$1,240$1,460
    2 Bedroom$130$1,650$1,780
    3 Bedroom$170$2,200$2,370
    4 Bedroom-$130$2,780$2,650

    Affordability — Burnsville, MN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4
    Median Home Price$342,000
    Median Household Income$81,600

    Burnsville, MN — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Burnsville, MN

    55306

    Bloomington, MN

    55420

    Bloomington, MN

    55431

    Bloomington, MN

    55425

    Apple Valley, MN

    55124

    Frequently Asked Questions