Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Anoka County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $302,540 | $243,729 | $242,182 |
| Price Trend (Annual %) | 9.1% | 7.9% | 8.2% |
| Median Gross Rent | $1,396 | $1,234 | $1,342 |
| Rent Trend (Annual %) | 4.9% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Anoka County is about 24% higher than in Minnesota. Rent is about 13% higher than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Anoka County, up about 9.1% and 4.9% a year respectively. Home prices are changing faster.
Median rent in Anoka County rose about 43.8% between 2015 and 2023, from $971 to $1,396. Over the same span, rent in Minnesota rose about 45.7%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Anoka County.
Buying the median-priced home in Anoka County costs roughly 18.1 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Anoka County. The price-to-rent ratio in Minnesota is about 16.5.
| Metric | Anoka County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $302,540 | $243,729 | $242,182 |
| Median Household Income | $98,658 | $88,383 | $78,145 |
| Price-to-Income Ratio | 3.1 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Anoka County rose about 108.4%, while median household income rose about 42.0% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Anoka County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 77.6% | 65.6% | 58.2% |
| Rental Rate | 19.5% | 25.0% | 31.3% |
| Vacancy Rate | 2.9% | 9.4% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Anoka County has a homeownership rate of 77.6%, higher than the Minnesota average of 65.6%. Its housing vacancy rate is 2.9%, compared with 9.4% in Minnesota.
Housing Stock
| Metric | Anoka County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.67 people | 2.44 people | 2.54 people |
| Median Structure Built Year | 1984 | 1976 | 1978 |
| Median Number of Rooms | 6.4 | 6.1 | 5.5 |
The typical housing unit in Anoka County was built around 1984. On average, 2.7 people live in a home with about 6.4 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Anoka County, Minnesota.
What is the median home price in Anoka County, Minnesota?
The median home price in Anoka County, Minnesota is $302,540, higher than the Minnesota average of $243,729.
What is the average home price in Anoka County, Minnesota?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Anoka County, Minnesota?
The median gross rent in Anoka County, Minnesota is $1,396 per month, higher than the Minnesota average of $1,234.
What was the median gross rent in Anoka County in 2020?
In 2020, the median gross rent in Anoka County, Minnesota was $1,161 per month.
What is the price-to-rent ratio in Anoka County, Minnesota?
The price-to-rent ratio in Anoka County, Minnesota is about 18.1, meaning it would take roughly 18.1 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Anoka County.
Are home prices or rent rising faster in Anoka County, Minnesota?
Both home prices and rent are rising in Anoka County, up about 9.1% and 4.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Anoka County, Minnesota?
77.6% of households in Anoka County, Minnesota own their home, higher than the Minnesota average of 65.6%.
What is the vacancy rate in Anoka County, Minnesota?
The housing vacancy rate in Anoka County, Minnesota is 2.9%, lower than the Minnesota average of 9.4%.