New Construction
New construction is concentrated in outer-ring suburbs including Lakeville, Blaine, Otsego, and Cottage Grove, with homes from $380,000 to $580,000 in growing communities.
Minneapolis-St. Paul, Minnesota · New Homes
New homes in Minneapolis-St. Paul.
Minneapolis-St. Paul hosts more Fortune 500 headquarters per capita than almost any metro its size, including Target, UnitedHealth Group, 3M, US Bancorp, and Cargill, creating one of the most economically stable large-metro housing markets in the Midwest.
New construction is concentrated in outer-ring suburbs including Lakeville, Blaine, Otsego, and Cottage Grove, with homes from $380,000 to $580,000 in growing communities.
At a glance
Minneapolis-St. Paul market snapshot
Median Home Price
$360,000
Median Rent
$1,400
Market Trend
Stable
Cost of Living Index
106
Why Minneapolis-St. Paul
What makes Minneapolis-St. Paul different
Why People Move Here
Fortune 500 headquarters concentration and Mayo Clinic healthcare draw and strong public schools and outdoor recreation culture and four-season lifestyle
Schools
Wayzata Public Schools and Minnetonka Public Schools in western suburbs and Lakeville Area Schools in south rank among Minnesota highest-performing districts, driving significant western and southern suburb demand.
Top Neighborhoods
Eden Prairie, Maple Grove, Plymouth, Woodbury, Eagan, Burnsville, Lakeville, Blaine, and Prior Lake
Major Employers
Target global headquarters and UnitedHealth Group in Minnetonka and 3M global headquarters in Maplewood and Cargill private headquarters in Wayzata and US Bancorp in Minneapolis and Mayo Clinic Rochester
Who's building
Top builders active in Minneapolis-St. Paul
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Common questions
Minneapolis-St. Paul FAQ
Is Minneapolis a good place to buy a home?
Minneapolis offers exceptional corporate employment stability from Fortune 500 headquarters and strong public schools and diverse economy weathering downturns.
What is the median home price in Minneapolis?
The median home price in Minneapolis-St. Paul is approximately $360,000 with new construction in outer suburbs from high $300,000s.
Which Minneapolis suburbs have the most new construction?
Lakeville, Blaine, Otsego, Cottage Grove, and St. Michael lead Twin Cities metro in new home activity.
Is Minneapolis good for real estate investors?
Minneapolis Fortune 500 employment base and large university system and economic stability create consistent long-term rental demand.
What is driving Minneapolis housing stability?
Fortune 500 corporate headquarters and Mayo Clinic health system and University of Minnesota and diversified economy spanning healthcare finance agriculture and tech maintain demand.
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