Chanhassen, MN—55317
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Chanhassen, MN
As of Oct '25, the median home price in Chanhassen, MN is $516,000, with a year-over-year change of 1.3%. This indicates that home prices in Chanhassen, MN are increasing. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $516,000 | 1.3% |
| Single Family | $527,000 | 1.2% |
| Condos | $238,000 | -4.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $222,000 | -9.0% |
2 Bed | $281,000 | -1.1% |
3 Bed | $427,000 | 0.0% |
4 Bed | $606,000 | 1.8% |
| 5 Bed | $808,000 | 1.3% |
% of Housing Stock
Rental Trends — Chanhassen, MN
As of July '25, Rentcast reports the average rent in Chanhassen, MN is $2,750, with a year-over-year rent change of 14.1%. Per bedroom, the median rent as of July '25 in Chanhassen, MN is studios: $1,550, 1-bedrooms: $1,580, 2-bedrooms: $1,920, 3-bedrooms: $2,520, 4-bedrooms: $3,140. The most common rental property sizes in Chanhassen, MN are 2-bedroom and 1-bedroom, accounting for 65.4% and 13.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,550 | $2,750 |
| Studio Rent | $1,550 | $1,550 |
| 1 Bed Rent | $1,600 | $1,580 |
| 2 Bed Rent | $1,900 | $1,920 |
| 3 Bed Rent | $2,550 | $2,520 |
| 4 Bed Rent | $3,000 | $3,140 |
% of Rental Stock
Property Listings — Chanhassen, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Chanhassen, MN is 41. This is a decrease of -4.0% 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 | $545,000 | 9.0% |
Listing Count | 92 | 27.0% |
| Listings as % of Homes | 0.5% | 27.0% |
Days on Market | 41 | -4.0% |
Demographics — Chanhassen, MN
As of the latest ACS Survey released in 2023, Chanhassen, MN has a population of 22,400, which has increased by 2.9% over the past 5 years. Chanhassen, MN is a popular place for families, as children make up 25.2% of the population. The area has a highly educated workforce, with 64.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,400 | 2.9% |
% Under 18 | 25.2% | -3.4% |
% Seniors | 14.9% | 40.6% |
% WFH | 25.9% | 236.4% |
% w/ College Degree | 64.3% | 1.9% |
As of the latest ACS Survey released in 2023, Chanhassen, MN is a predominantly white area, with 82.4% of the population identifying as white. The white population has shrunk by 4.8% in the last 5 years. The second most common race or ethnicity in Chanhassen, MN is asian, making up 6.9% of the population. Foreign-born residents account for 8.8% of the population in Chanhassen, MN, and this percentage has increased by 11.4% 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 | 82.4% | -4.8% |
% Black | 1.7% | 0.0% |
% Hispanic | 3.6% | -16.3% |
% Asian | 6.9% | 6.2% |
% Foreign Born | 8.8% | 11.4% |
Mortgage and Risk — Chanhassen, MN
According to HUD data as of 2023, there were 486 mortgage originations in Chanhassen, MN, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Chanhassen, MN. Investor activity is low, as 1.0% 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 | 486 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Chanhassen, MN
As of 2024, the percent of homes in Chanhassen, MN under the Section 8 program is 4.0%. 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. In Chanhassen, 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 | 56 |
Total Units Section 8 | 56 |
% Rentals under Section 8 | 4.0% |
% Occupied Section 8 | 95.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $120 | $1,600 | $1,720 |
| 2 Bedroom | $200 | $1,900 | $2,100 |
| 3 Bedroom | $250 | $2,550 | $2,800 |
| 4 Bedroom | $130 | $3,000 | $3,130 |
Affordability — Chanhassen, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $516,000 |
| Median Household Income | $134,000 |