Longfellow, Minneapolis, MN—55406
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Longfellow, Minneapolis, MN
As of Oct '25, the median home price in Longfellow, Minneapolis, MN is $333,000, with a year-over-year change of 2.8%. This indicates that home prices in Longfellow, Minneapolis, MN are increasing. According to Zillow, the 1-year price projection is -1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $333,000 | 2.8% |
| Single Family | $339,000 | 2.7% |
| Condos | $187,000 | 1.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $205,000 | 2.5% |
2 Bed | $291,000 | 2.5% |
3 Bed | $360,000 | 2.9% |
4 Bed | $429,000 | 2.9% |
| 5 Bed | $474,000 | 2.4% |
% of Housing Stock
Rental Trends — Longfellow, Minneapolis, MN
As of July '25, Rentcast reports the average rent in Longfellow, Minneapolis, MN is $1,470, with a year-over-year rent change of -5.2%. Per bedroom, the median rent as of July '25 in Longfellow, Minneapolis, MN is studios: $1,210, 1-bedrooms: $1,190, 2-bedrooms: $1,580, 3-bedrooms: $2,100, 4-bedrooms: $2,640. The most common rental property sizes in Longfellow, Minneapolis, MN are 1-bedroom and 2-bedroom, accounting for 44.3% and 30.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,470 |
| Studio Rent | $1,100 | $1,210 |
| 1 Bed Rent | $1,200 | $1,190 |
| 2 Bed Rent | $1,550 | $1,580 |
| 3 Bed Rent | $2,000 | $2,100 |
| 4 Bed Rent | $2,350 | $2,640 |
% of Rental Stock
Property Listings — Longfellow, Minneapolis, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Longfellow, Minneapolis, MN is 28. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $340,000 | 3.0% |
Listing Count | 69 | -11.0% |
| Listings as % of Homes | 0.3% | -11.0% |
Days on Market | 28 | -12.0% |
Demographics — Longfellow, Minneapolis, MN
As of the latest ACS Survey released in 2023, Longfellow, Minneapolis, MN has a population of 35,900, which has increased by 7.2% over the past 5 years. Longfellow, Minneapolis, MN is a moderately popular place for families, as children make up 19.0% of the population. The area has a highly educated workforce, with 56.0% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,900 | 7.2% |
% Under 18 | 19.0% | 2.2% |
% Seniors | 15.1% | 14.4% |
% WFH | 25.8% | 352.6% |
% w/ College Degree | 56.0% | 5.7% |
As of the latest ACS Survey released in 2023, Longfellow, Minneapolis, MN is a predominantly white area, with 69.7% of the population identifying as white. The white population has shrunk by 4.1% in the last 5 years. The second most common race or ethnicity in Longfellow, Minneapolis, MN is black, making up 12.5% of the population. Foreign-born residents account for 11.4% of the population in Longfellow, Minneapolis, MN, and this percentage has decreased by 5.8% 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 | 69.7% | -4.1% |
% Black | 12.5% | 0.8% |
% Hispanic | 6.9% | -6.8% |
% Asian | 2.7% | -10.0% |
% Foreign Born | 11.4% | -5.8% |
Mortgage and Risk — Longfellow, Minneapolis, MN
According to HUD data as of 2023, there were 683 mortgage originations in Longfellow, Minneapolis, MN, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Longfellow, Minneapolis, MN. Investor activity is low, as 4.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 683 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Longfellow, Minneapolis, MN
As of 2024, the percent of homes in Longfellow, Minneapolis, MN under the Section 8 program is 27.7%. 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. In Longfellow, Minneapolis, MN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 1,746 |
Total Units Section 8 | 1,539 |
% Rentals under Section 8 | 27.7% |
% Occupied Section 8 | 89.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $1,200 | $1,290 |
| 2 Bedroom | $30 | $1,550 | $1,580 |
| 3 Bedroom | $100 | $2,000 | $2,100 |
| 4 Bedroom | $10 | $2,350 | $2,360 |
Affordability — Longfellow, Minneapolis, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $333,000 |
| Median Household Income | $91,900 |