Apple Valley, Minnesota Housing Market Prices
Apple Valley Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 97% below the Minnesota median$6,799
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Median rent 36% above the Minnesota median$1,737
Housing Market Overview
| Metric | Apple Valley | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $6,799 | $236,718 | $248,835 |
| Price Trend (Annual %) | -5.2% | 6.6% | 7.5% |
| Median Gross Rent | $1,737 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.7% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Apple Valley is about 97% lower than in Minnesota. Rent is about 36% higher than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Apple Valley: home prices fell about 5.2% a year while rent rose about 5.7% a year. That is an unusual pattern worth watching.
Median rent in Apple Valley rose about 54.3% between 2015 and 2024, from $1,126 to $1,737. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 0.1 yearly household incomes in Apple Valley.
Buying the median-priced home in Apple Valley costs roughly 0.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Apple Valley. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Apple Valley | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $6,799 | $236,718 | $248,835 |
| Median Household Income | $98,234 | $89,852 | $80,455 |
| Price-to-Income Ratio | 0.1 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Apple Valley fell about 93.8%, while median household income rose about 22.9% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Apple Valley | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.1% | 65.5% | 58.5% |
| Rental Rate | 26.1% | 25.2% | 31.2% |
| Vacancy Rate | 1.8% | 9.3% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Apple Valley has a homeownership rate of 72.1%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 1.8%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Apple Valley | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1991 | 1976 | 1978 |
| Median Number of Rooms | 6.5 | 6.1 | 5.5 |
The typical housing unit in Apple Valley was built around 1991. On average, 2.5 people live in a home with about 6.5 rooms, staying for about 14.0 years on average.
Apple Valley, MN Housing Compared With Nearby Cities
How Apple Valley, MN compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Apple Valley, MN | 55,585 | $6,799 #3/3 | $1,737 #2/3 | 73.4% #2/3 |
| Burnsville, MN | 64,463 | $294,941 | $1,513 | 64.6% |
| Lakeville, MN | 74,391 | $527,116 | $1,805 | 87.8% |
Frequently Asked Questions
Common questions about the housing market in Apple Valley, Minnesota.
What is the median home price in Apple Valley, Minnesota?
The median home price in Apple Valley, Minnesota is $6,799, lower than the Minnesota average of $236,718.
What is the average home price in Apple Valley, Minnesota?
The typical home price in Apple Valley, Minnesota, reported as the median sale price, is $6,799. 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 Apple Valley, Minnesota?
The median gross rent in Apple Valley, Minnesota is $1,737 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in Apple Valley in 2020?
In 2020, the median gross rent in Apple Valley, Minnesota was $1,395 per month.
What is the price-to-rent ratio in Apple Valley, Minnesota?
The price-to-rent ratio in Apple Valley, Minnesota is about 0.3, meaning it would take roughly 0.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Apple Valley.
Are home prices or rent rising faster in Apple Valley, Minnesota?
Home prices and rent are moving in opposite directions in Apple Valley: home prices fell about 5.2% a year while rent rose about 5.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Apple Valley, Minnesota?
72.1% of households in Apple Valley, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Apple Valley, Minnesota?
The housing vacancy rate in Apple Valley, Minnesota is 1.8%, lower than the Minnesota average of 9.3%.
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