Plymouth, MN—55446
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Plymouth, MN
As of Oct '25, the median home price in Plymouth, MN is $610,000, with a year-over-year change of 1.6%. This indicates that home prices in Plymouth, MN are increasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $610,000 | 1.6% |
| Single Family | $647,000 | 1.4% |
| Condos | $277,000 | 1.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $312,000 | 0.3% |
3 Bed | $460,000 | 0.4% |
4 Bed | $725,000 | 1.4% |
| 5 Bed | $890,000 | 0.5% |
% of Housing Stock
Rental Trends — Plymouth, MN
As of July '25, Rentcast reports the average rent in Plymouth, MN is $2,940, with a year-over-year rent change of -0.7%. Per bedroom, the median rent as of July '25 in Plymouth, MN is studios: $1,380, 1-bedrooms: $1,420, 2-bedrooms: $2,080, 3-bedrooms: $2,700, 4-bedrooms: $3,780. The most common rental property sizes in Plymouth, MN are 1-bedroom and 2-bedroom, accounting for 37.8% and 31.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,600 | $2,940 |
| Studio Rent | $1,380 | $1,380 |
| 1 Bed Rent | $1,350 | $1,420 |
| 2 Bed Rent | $2,150 | $2,080 |
| 3 Bed Rent | $2,600 | $2,700 |
| 4 Bed Rent | $3,850 | $3,780 |
% of Rental Stock
Property Listings — Plymouth, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Plymouth, MN is 33. This is a decrease of -25.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $692,000 | -14.0% |
Listing Count | 128 | -9.0% |
| Listings as % of Homes | 0.7% | -9.0% |
Days on Market | 33 | -25.0% |
Demographics — Plymouth, MN
As of the latest ACS Survey released in 2023, Plymouth, MN has a population of 27,600, which has increased by 12.9% over the past 5 years. Plymouth, MN is a popular place for families, as children make up 30.1% of the population. The area has a highly educated workforce, with 75.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 33.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,600 | 12.9% |
% Under 18 | 30.1% | 7.9% |
% Seniors | 12.5% | -3.8% |
% WFH | 33.9% | 272.5% |
% w/ College Degree | 75.8% | 16.4% |
As of the latest ACS Survey released in 2023, Plymouth, MN is a predominantly white area, with 65.4% of the population identifying as white. The white population has shrunk by 4.2% in the last 5 years. The second most common race or ethnicity in Plymouth, MN is asian, making up 19.9% of the population. Foreign-born residents account for 18.4% of the population in Plymouth, MN, and this percentage has decreased by 1.1% 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 | 65.4% | -4.2% |
% Black | 4.1% | -36.9% |
% Hispanic | 2.9% | -38.3% |
% Asian | 19.9% | 5.9% |
% Foreign Born | 18.4% | -1.1% |
Mortgage and Risk — Plymouth, MN
According to HUD data as of 2023, there were 635 mortgage originations in Plymouth, MN, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Plymouth, MN. Investor activity is low, as 2.0% 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 | 635 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Plymouth, MN
As of 2024, the percent of homes in Plymouth, MN under the Section 8 program is 3.9%. 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 and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Plymouth, MN, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 76 |
Total Units Section 8 | 76 |
% Rentals under Section 8 | 3.9% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $470 | $1,350 | $1,820 |
| 2 Bedroom | $70 | $2,150 | $2,220 |
| 3 Bedroom | $360 | $2,600 | $2,960 |
| 4 Bedroom | -$540 | $3,850 | $3,310 |
Affordability — Plymouth, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $610,000 |
| Median Household Income | $169,000 |