Chaska, MN—55318
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Chaska, MN
As of Oct '25, the median home price in Chaska, MN is $467,000, with a year-over-year change of 1.0%. This indicates that home prices in Chaska, 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 | $467,000 | 1.0% |
| Single Family | $476,000 | 1.1% |
| Condos | $248,000 | -1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $230,000 | 3.1% |
2 Bed | $290,000 | -2.0% |
3 Bed | $388,000 | 0.5% |
4 Bed | $546,000 | 1.9% |
| 5 Bed | $670,000 | 1.4% |
% of Housing Stock
Rental Trends — Chaska, MN
As of July '25, Rentcast reports the average rent in Chaska, MN is $2,330, with a year-over-year rent change of -4.1%. Per bedroom, the median rent as of July '25 in Chaska, MN is studios: $1,350, 1-bedrooms: $1,330, 2-bedrooms: $2,000, 3-bedrooms: $2,490, 4-bedrooms: $3,370. The most common rental property sizes in Chaska, MN are 2-bedroom and 1-bedroom, accounting for 36.1% and 35.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,330 |
| Studio Rent | $1,380 | $1,350 |
| 1 Bed Rent | $1,300 | $1,330 |
| 2 Bed Rent | $1,980 | $2,000 |
| 3 Bed Rent | $2,350 | $2,490 |
| 4 Bed Rent | $3,380 | $3,370 |
% of Rental Stock
Property Listings — Chaska, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Chaska, MN is 41. This is a increase of 2.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $670,000 | 9.0% |
Listing Count | 149 | -7.0% |
| Listings as % of Homes | 0.7% | -7.0% |
Days on Market | 41 | 2.0% |
Demographics — Chaska, MN
As of the latest ACS Survey released in 2023, Chaska, MN has a population of 29,900, which has increased by 8.1% over the past 5 years. Chaska, MN is a popular place for families, as children make up 26.2% of the population. The area has a highly educated workforce, with 47.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,900 | 8.1% |
% Under 18 | 26.2% | -3.0% |
% Seniors | 13.1% | 44.0% |
% WFH | 19.9% | 201.5% |
% w/ College Degree | 47.1% | 0.9% |
As of the latest ACS Survey released in 2023, Chaska, MN is a predominantly white area, with 81.5% of the population identifying as white. The white population has shrunk by 2.5% in the last 5 years. The second most common race or ethnicity in Chaska, MN is hispanic, making up 8.6% of the population. Foreign-born residents account for 6.8% of the population in Chaska, MN, and this percentage has increased by 6.2% 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 | 81.5% | -2.5% |
% Black | 1.9% | -17.4% |
% Hispanic | 8.6% | 8.9% |
% Asian | 3.8% | 15.2% |
% Foreign Born | 6.8% | 6.2% |
Mortgage and Risk — Chaska, MN
According to HUD data as of 2023, there were 579 mortgage originations in Chaska, MN, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Chaska, 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 | 579 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Chaska, MN
As of 2024, the percent of homes in Chaska, MN under the Section 8 program is 11.7%. 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 units appear to be good home sizes to consider for Section 8 housing in Chaska, MN, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 434 |
Total Units Section 8 | 367 |
% Rentals under Section 8 | 11.7% |
% Occupied Section 8 | 95.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $100 | $1,300 | $1,400 |
| 2 Bedroom | -$270 | $1,980 | $1,710 |
| 3 Bedroom | -$70 | $2,350 | $2,280 |
| 4 Bedroom | -$830 | $3,380 | $2,550 |
Affordability — Chaska, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $467,000 |
| Median Household Income | $112,000 |