Northeast Park, Minneapolis, MN—55418
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Northeast Park, Minneapolis, MN
As of Oct '25, the median home price in Northeast Park, Minneapolis, MN is $338,000, with a year-over-year change of 1.8%. This indicates that home prices in Northeast Park, Minneapolis, MN are increasing. According to Zillow, the 1-year price projection is -0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $338,000 | 1.8% |
| Single Family | $343,000 | 1.8% |
| Condos | $133,000 | 14.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $178,000 | 3.5% |
2 Bed | $282,000 | 2.2% |
3 Bed | $349,000 | 1.7% |
4 Bed | $403,000 | 1.5% |
| 5 Bed | $464,000 | 0.9% |
% of Housing Stock
Rental Trends — Northeast Park, Minneapolis, MN
As of July '25, Rentcast reports the average rent in Northeast Park, Minneapolis, MN is $1,670, with a year-over-year rent change of -7.7%. Per bedroom, the median rent as of July '25 in Northeast Park, Minneapolis, MN is studios: $1,210, 1-bedrooms: $1,250, 2-bedrooms: $1,570, 3-bedrooms: $2,050, 4-bedrooms: $2,910. The most common rental property sizes in Northeast Park, Minneapolis, MN are 2-bedroom and 1-bedroom, accounting for 43.2% and 32.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,670 |
| Studio Rent | $1,100 | $1,210 |
| 1 Bed Rent | $1,300 | $1,250 |
| 2 Bed Rent | $1,550 | $1,570 |
| 3 Bed Rent | $1,950 | $2,050 |
| 4 Bed Rent | $2,900 | $2,910 |
% of Rental Stock
Property Listings — Northeast Park, Minneapolis, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Northeast Park, Minneapolis, MN is 26. This is a decrease of -2.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $340,000 | -6.0% |
Listing Count | 78 | 4.0% |
| Listings as % of Homes | 0.4% | 4.0% |
Days on Market | 26 | -2.0% |
Demographics — Northeast Park, Minneapolis, MN
As of the latest ACS Survey released in 2023, Northeast Park, Minneapolis, MN has a population of 31,300, which has increased by 3.6% over the past 5 years. Northeast Park, Minneapolis, MN is a moderately popular place for families, as children make up 19.7% of the population. The area has a highly educated workforce, with 51.4% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,300 | 3.6% |
% Under 18 | 19.7% | -0.5% |
% Seniors | 14.4% | 14.3% |
% WFH | 26.5% | 364.9% |
% w/ College Degree | 51.4% | 9.4% |
As of the latest ACS Survey released in 2023, Northeast Park, Minneapolis, MN is a predominantly white area, with 74.1% of the population identifying as white. The white population has shrunk by 1.6% in the last 5 years. The second most common race or ethnicity in Northeast Park, Minneapolis, MN is black, making up 9.8% of the population. Foreign-born residents account for 10.6% of the population in Northeast Park, Minneapolis, MN, and this percentage has increased by 1.0% 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 | 74.1% | -1.6% |
% Black | 9.8% | 44.1% |
% Hispanic | 7.9% | -8.1% |
% Asian | 2.4% | -7.7% |
% Foreign Born | 10.6% | 1.0% |
Mortgage and Risk — Northeast Park, Minneapolis, MN
According to HUD data as of 2023, there were 596 mortgage originations in Northeast Park, Minneapolis, MN, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Northeast Park, Minneapolis, MN. Investor activity is low, as 4.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 596 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Northeast Park, Minneapolis, MN
As of 2024, the percent of homes in Northeast Park, Minneapolis, MN under the Section 8 program is 11.1%. 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. 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Northeast Park, Minneapolis, MN, because HUD payments exceed market rent, while 1-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 991 |
Total Units Section 8 | 568 |
% Rentals under Section 8 | 11.1% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $1,300 | $1,290 |
| 2 Bedroom | $20 | $1,550 | $1,570 |
| 3 Bedroom | $140 | $1,950 | $2,090 |
| 4 Bedroom | -$560 | $2,900 | $2,340 |
Affordability — Northeast Park, Minneapolis, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $338,000 |
| Median Household Income | $95,600 |