Shakopee, MN—55379
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Shakopee, MN
As of Oct '25, the median home price in Shakopee, MN is $397,000, with a year-over-year change of 1.8%. This indicates that home prices in Shakopee, 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 | $397,000 | 1.8% |
| Single Family | $400,000 | 1.8% |
| Condos | $264,000 | -0.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $263,000 | 0.0% |
3 Bed | $349,000 | 1.7% |
4 Bed | $469,000 | 1.5% |
| 5 Bed | $560,000 | 1.4% |
% of Housing Stock
Rental Trends — Shakopee, MN
As of July '25, Rentcast reports the average rent in Shakopee, MN is $2,240, with a year-over-year rent change of -0.9%. Per bedroom, the median rent as of July '25 in Shakopee, MN is studios: $1,380, 1-bedrooms: $1,350, 2-bedrooms: $1,790, 3-bedrooms: $2,520, 4-bedrooms: $3,030. The most common rental property sizes in Shakopee, MN are 2-bedroom and 1-bedroom, accounting for 38.4% and 29.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,240 |
| Studio Rent | $1,400 | $1,380 |
| 1 Bed Rent | $1,230 | $1,350 |
| 2 Bed Rent | $1,800 | $1,790 |
| 3 Bed Rent | $2,350 | $2,520 |
| 4 Bed Rent | $2,700 | $3,030 |
% of Rental Stock
Property Listings — Shakopee, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Shakopee, MN is 36. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $478,000 | 9.0% |
Listing Count | 194 | 3.0% |
| Listings as % of Homes | 0.9% | 3.0% |
Days on Market | 36 | 0.0% |
Demographics — Shakopee, MN
As of the latest ACS Survey released in 2023, Shakopee, MN has a population of 49,100, which has increased by 9.1% over the past 5 years. Shakopee, MN is a popular place for families, as children make up 26.7% of the population. The area has a moderately educated workforce, with 39.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 49,100 | 9.1% |
% Under 18 | 26.7% | -8.2% |
% Seniors | 10.7% | 23.0% |
% WFH | 16.8% | 281.8% |
% w/ College Degree | 39.6% | 14.1% |
As of the latest ACS Survey released in 2023, Shakopee, MN is a predominantly white area, with 63.6% of the population identifying as white. The white population has shrunk by 9.9% in the last 5 years. The second most common race or ethnicity in Shakopee, MN is hispanic, making up 11.2% of the population. Foreign-born residents account for 16.4% of the population in Shakopee, MN, and this percentage has increased by 9.3% 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 | 63.6% | -9.9% |
% Black | 7.5% | 4.2% |
% Hispanic | 11.2% | 43.6% |
% Asian | 10.3% | 1.0% |
% Foreign Born | 16.4% | 9.3% |
Mortgage and Risk — Shakopee, MN
According to HUD data as of 2023, there were 936 mortgage originations in Shakopee, MN, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Shakopee, MN. Investor activity is low, as 2.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 936 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Shakopee, MN
As of 2024, the percent of homes in Shakopee, MN under the Section 8 program is 9.2%. 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 Shakopee, MN, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 395 |
Total Units Section 8 | 374 |
% Rentals under Section 8 | 9.2% |
% Occupied Section 8 | 93.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $250 | $1,230 | $1,480 |
| 2 Bedroom | $10 | $1,800 | $1,810 |
| 3 Bedroom | $60 | $2,350 | $2,410 |
| 4 Bedroom | $0 | $2,700 | $2,700 |
Affordability — Shakopee, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $397,000 |
| Median Household Income | $110,000 |