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  5. /Nokomis, Minneapolis, MN - 55417

Nokomis, Minneapolis, MN—55417

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$384,000
2.1% YoY Growth
Household Income
$123,000
43.1% YoY Growth
Days on Market
22
3.0% Longer YoY
Home Price Forecast
-0.5%
Median Rent
$1,700
13.6% YoY Growth
1-Bed Rent
$1,080
28.4% YoY Growth
2-Bed Rent
$1,720
24.9% YoY Growth
3-Bed Rent
$2,480
22.5% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Nokomis, Minneapolis, MN

As of May '26, the median home price in Nokomis, Minneapolis, MN is $384,000, with a year-over-year change of 2.1%. This indicates that home prices in Nokomis, Minneapolis, 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 TypeMedian Home ValueYoY % Change
All Homes
$384,0002.1%
Single Family $394,0002.1%
Condos $200,0007.0%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $207,000
    0.0%
    2 Bed
    		$306,0001.0%
    3 Bed
    		$403,0002.0%
    4 Bed
    		$497,0003.5%
    5 Bed $559,9054.4%
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    % of Housing Stock

    Studio
    2.5%
    1 Bedroom
    10.5%
    2 Bedrooms
    25.1%
    3 Bedrooms
    41.1%
    4 Bedrooms
    18.3%
    5+ Bedrooms
    2.5%

    Rental Trends — Nokomis, Minneapolis, MN

    As of July '25, Rentcast reports the average rent in Nokomis, Minneapolis, MN is $1,910, with a year-over-year rent change of -13.6%. Per bedroom, the median rent as of July '25 in Nokomis, Minneapolis, MN is studios: $1,840, 1-bedrooms: $1,060, 2-bedrooms: $1,690, 3-bedrooms: $2,670, 4-bedrooms: $3,800. The most common rental property sizes in Nokomis, Minneapolis, MN are 1-bedroom and 2-bedroom, accounting for 35.2% and 29.8% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,700$1,910
    Studio Rent $1,080$1,840
    1 Bed Rent $1,080$1,060
    2 Bed Rent $1,720$1,690
    3 Bed Rent $2,480$2,670
    4 Bed Rent $3,600$3,800
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    % of Rental Stock

    Studio
    12.2%
    1 Bedroom
    35.2%
    2 Bedrooms
    29.8%
    3 Bedrooms
    17.1%
    4 Bedrooms
    4.8%
    5+ Bedrooms
    0.8%

    Property Listings — Nokomis, Minneapolis, MN

    As of May '26, Realtor.com reports that the median days on market for a home in Nokomis, Minneapolis, MN is 22. This is a increase of 3.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$395,000-4.0%
    Listing Count
    		81-5.0%
    Listings as % of Homes0.4%-5.0%
    Days on Market
    		223.0%
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    Demographics — Nokomis, Minneapolis, MN

    As of the latest ACS Survey released in 2023, Nokomis, Minneapolis, MN has a population of 25,700, which has decreased by -3.0% over the past 5 years. Nokomis, Minneapolis, MN is a moderately popular place for families, as children make up 22.5% of the population. The area has a highly educated workforce, with 61.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.7% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		25,700-3.0%
    % Under 18
    		22.5%2.3%
    % Seniors
    		14.2%9.2%
    % WFH
    		25.7%350.9%
    % w/ College Degree
    		61.9%10.1%
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    As of the latest ACS Survey released in 2023, Nokomis, Minneapolis, MN is a predominantly white area, with 77.8% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in Nokomis, Minneapolis, MN is hispanic, making up 9.9% of the population. Foreign-born residents account for 7.0% of the population in Nokomis, Minneapolis, MN, and this percentage has increased by 32.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		77.8%-1.0%
    % Black
    		5.5%-40.2%
    % Hispanic
    		9.9%135.7%
    % Asian
    		2.3%64.3%
    % Foreign Born
    		7.0%32.1%
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    Mortgage and Risk — Nokomis, Minneapolis, MN

    According to HUD data as of 2023, there were 486 mortgage originations in Nokomis, Minneapolis, MN, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Nokomis, Minneapolis, MN. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		486
    % Conventional Loans
    		92.0%
    % Government Loans
    		8.0%
    % Investor Loans
    		3.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		7.0%
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    Rentals and Section 8 — Nokomis, Minneapolis, MN

    As of 2024, the percent of homes in Nokomis, Minneapolis, MN under the Section 8 program is 11.2%. 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 units appear to be good home sizes to consider for Section 8 housing in Nokomis, Minneapolis, 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
    		273
    Total Units Section 8
    		212
    % Rentals under Section 8
    		11.3%
    % Occupied Section 8
    		83.9%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$260$1,080$1,340
    2 Bedroom-$90$1,720$1,630
    3 Bedroom-$310$2,480$2,170
    4 Bedroom-$1,170$3,600$2,430

    Affordability — Nokomis, Minneapolis, MN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.9
    Median Home Price$384,000
    Median Household Income$123,000

    Nokomis, Minneapolis, MN — ZIP Code Boundary Map

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    Frequently Asked Questions