Plymouth, MN—55447
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 $483,000, with a year-over-year change of 3.2%. This indicates that home prices in Plymouth, MN are increasing. According to Zillow, the 1-year price projection is -0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $483,000 | 3.2% |
| Single Family | $499,000 | 2.9% |
| Condos | $240,000 | -1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $282,000 | -1.4% |
3 Bed | $452,000 | 3.2% |
4 Bed | $600,000 | 2.6% |
| 5 Bed | $731,000 | 1.5% |
% of Housing Stock
Rental Trends — Plymouth, MN
As of July '25, Rentcast reports the average rent in Plymouth, MN is $2,300, with a year-over-year rent change of -11.5%. Per bedroom, the median rent as of July '25 in Plymouth, MN is studios: $1,260, 1-bedrooms: $1,510, 2-bedrooms: $1,860, 3-bedrooms: $2,470, 4-bedrooms: $3,250. The most common rental property sizes in Plymouth, MN are 2-bedroom and 1-bedroom, accounting for 49.4% and 37.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,300 |
| Studio Rent | $1,260 | $1,260 |
| 1 Bed Rent | $1,480 | $1,510 |
| 2 Bed Rent | $1,780 | $1,860 |
| 3 Bed Rent | $2,300 | $2,470 |
| 4 Bed Rent | $3,250 | $3,250 |
% 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 34. This is a decrease of -7.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $405,000 | -15.0% |
Listing Count | 65 | -6.0% |
| Listings as % of Homes | 0.3% | -6.0% |
Days on Market | 34 | -7.0% |
Demographics — Plymouth, MN
As of the latest ACS Survey released in 2023, Plymouth, MN has a population of 21,000, which has decreased by -3.4% over the past 5 years. Plymouth, MN is a moderately popular place for families, as children make up 24.0% of the population. The area has a highly educated workforce, with 60.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,000 | -3.4% |
% Under 18 | 24.0% | 2.6% |
% Seniors | 17.9% | 27.0% |
% WFH | 24.4% | 162.4% |
% w/ College Degree | 60.7% | 6.5% |
As of the latest ACS Survey released in 2023, Plymouth, MN is a predominantly white area, with 82.6% of the population identifying as white. The white population has grown by 0.6% in the last 5 years. The second most common race or ethnicity in Plymouth, MN is asian, making up 5.0% of the population. Foreign-born residents account for 10.4% of the population in Plymouth, MN, and this percentage has increased by 28.4% 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 | 82.6% | 0.6% |
% Black | 2.9% | -21.6% |
% Hispanic | 4.9% | 11.4% |
% Asian | 5.0% | -2.0% |
% Foreign Born | 10.4% | 28.4% |
Mortgage and Risk — Plymouth, MN
According to HUD data as of 2023, there were 321 mortgage originations in Plymouth, MN, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Plymouth, MN. Investor activity is low, as 2.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 321 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Plymouth, MN
As of 2024, the percent of homes in Plymouth, MN under the Section 8 program is 6.5%. 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 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 | 139 |
Total Units Section 8 | 132 |
% Rentals under Section 8 | 6.5% |
% Occupied Section 8 | 88.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $220 | $1,480 | $1,700 |
| 2 Bedroom | $290 | $1,780 | $2,070 |
| 3 Bedroom | $460 | $2,300 | $2,760 |
| 4 Bedroom | -$160 | $3,250 | $3,090 |
Affordability — Plymouth, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $483,000 |
| Median Household Income | $129,000 |