Burnsville, MN—55337
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Burnsville, MN
Home Price Trends — Burnsville, MN
As of Oct '25, the median home price in Burnsville, MN is $346,000, with a year-over-year change of 2.0%. This indicates that home prices in Burnsville, MN are increasing. According to Zillow, the 1-year price projection is -0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $346,000 | 2.0% |
| Single Family | $366,000 | 1.9% |
| Condos | $169,000 | 1.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $104,000 | -3.7% |
2 Bed | $240,000 | 0.0% |
3 Bed | $344,000 | 2.1% |
4 Bed | $401,000 | 1.5% |
| 5 Bed | $436,000 | 0.9% |
% of Housing Stock
Rental Trends — Burnsville, MN
As of July '25, Rentcast reports the average rent in Burnsville, MN is $1,740, with a year-over-year rent change of -2.2%. Per bedroom, the median rent as of July '25 in Burnsville, MN is studios: $1,210, 1-bedrooms: $1,260, 2-bedrooms: $1,640, 3-bedrooms: $2,260, 4-bedrooms: $2,920. The most common rental property sizes in Burnsville, MN are 2-bedroom and 1-bedroom, accounting for 39.2% and 37.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,570 | $1,740 |
| Studio Rent | $1,240 | $1,210 |
| 1 Bed Rent | $1,240 | $1,260 |
| 2 Bed Rent | $1,650 | $1,640 |
| 3 Bed Rent | $2,200 | $2,260 |
| 4 Bed Rent | $2,780 | $2,920 |
% of Rental Stock
Property Listings — Burnsville, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Burnsville, MN is 41. This is a increase of 5.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $330,000 | 6.0% |
Listing Count | 137 | -1.0% |
| Listings as % of Homes | 0.4% | -1.0% |
Days on Market | 41 | 5.0% |
Demographics — Burnsville, MN
As of the latest ACS Survey released in 2023, Burnsville, MN has a population of 48,100, which has increased by 6.5% over the past 5 years. Burnsville, MN is a moderately popular place for families, as children make up 23.0% of the population. The area has a moderately educated workforce, with 39.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 48,100 | 6.5% |
% Under 18 | 23.0% | 2.2% |
% Seniors | 16.2% | 3.2% |
% WFH | 16.6% | 238.8% |
% w/ College Degree | 39.0% | 0.8% |
As of the latest ACS Survey released in 2023, Burnsville, MN is a predominantly white area, with 61.7% of the population identifying as white. The white population has shrunk by 12.9% in the last 5 years. The second most common race or ethnicity in Burnsville, MN is black, making up 13.9% of the population. Foreign-born residents account for 14.0% of the population in Burnsville, MN, and this percentage has decreased by 2.1% 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 | 61.7% | -12.9% |
% Black | 13.9% | -0.7% |
% Hispanic | 11.1% | 91.4% |
% Asian | 6.0% | 27.7% |
% Foreign Born | 14.0% | -2.1% |
Mortgage and Risk — Burnsville, MN
According to HUD data as of 2023, there were 390 mortgage originations in Burnsville, MN, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Burnsville, MN. Investor activity is low, as 3.0% 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 | 390 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Burnsville, MN
As of 2024, the percent of homes in Burnsville, MN under the Section 8 program is 8.4%. 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 Burnsville, MN, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 661 |
Total Units Section 8 | 552 |
% Rentals under Section 8 | 8.4% |
% Occupied Section 8 | 94.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $220 | $1,240 | $1,460 |
| 2 Bedroom | $130 | $1,650 | $1,780 |
| 3 Bedroom | $170 | $2,200 | $2,370 |
| 4 Bedroom | -$130 | $2,780 | $2,650 |
Affordability — Burnsville, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $346,000 |
| Median Household Income | $81,600 |