Carver County, Minnesota Housing Market Prices
Carver County 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 28% above the Minnesota median More expensive than 84% of counties in Minnesota$303,125
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Median rent 18% above the Minnesota median Among the 5 most expensive counties in Minnesota$1,514
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Carver County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $303,125 | $236,718 | $248,835 |
| Price Trend (Annual %) | 6.1% | 6.6% | 7.5% |
| Median Gross Rent | $1,514 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.7% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Carver County is about 28% higher than in Minnesota. Rent is about 18% higher than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Carver County, up about 6.1% and 5.7% a year respectively. Home prices are changing faster.
Median rent in Carver County rose about 59.5% between 2015 and 2024, from $949 to $1,514. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Carver County.
Buying the median-priced home in Carver County costs roughly 16.7 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 Carver County. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Carver County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $303,125 | $236,718 | $248,835 |
| Median Household Income | $126,357 | $89,852 | $80,455 |
| Price-to-Income Ratio | 2.4 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Carver County rose about 28.4%, while median household income rose about 54.2% 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 | Carver County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 79.4% | 65.5% | 58.5% |
| Rental Rate | 18.0% | 25.2% | 31.2% |
| Vacancy Rate | 2.6% | 9.3% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Carver County has a homeownership rate of 79.4%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 2.6%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Carver County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.65 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1991 | 1976 | 1978 |
| Median Number of Rooms | 7.3 | 6.1 | 5.5 |
The typical housing unit in Carver County was built around 1991. On average, 2.6 people live in a home with about 7.3 rooms, staying for about 16.0 years on average.
Carver County, MN Housing Compared With Nearby Counties
Carver County, MN is the 4th largest of the 5 counties compared here, 110,041 residents against a local median of 151,384. Carver County, MN sits close to the middle of its own neighbourhood. No measure below is more than 15% off the local median, so the choice between these counties turns on things this data does not capture.
The largest of those small differences is median rent, 9% above the local median at $1,514 against $1,387. Carver County, MN has the 2nd highest median rent of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Carver County, MN | 110,041 | $303,125 #3/5 | $1,514 #2/5 | 81.5% #3/5 |
| Scott County, MN | 154,543 | $282,373 | $1,568 | 83.8% |
| Hennepin County, MN | 1,268,249 | $303,459 | $1,486 | 62.7% |
| Wright County, MN | 148,225 | $287,208 | $1,288 | 84.1% |
| McLeod County, MN | 36,799 | $303,846 | $941 | 77.4% |
Frequently Asked Questions
Common questions about the housing market in Carver County, Minnesota.
What is the median home price in Carver County, Minnesota?
The median home price in Carver County, Minnesota is $303,125, higher than the Minnesota average of $236,718.
What is the average home price in Carver County, Minnesota?
The typical home price in Carver County, Minnesota, reported as the median sale price, is $303,125. 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 Carver County, Minnesota?
The median gross rent in Carver County, Minnesota is $1,514 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in Carver County in 2020?
In 2020, the median gross rent in Carver County, Minnesota was $1,169 per month.
What is the price-to-rent ratio in Carver County, Minnesota?
The price-to-rent ratio in Carver County, Minnesota is about 16.7, meaning it would take roughly 16.7 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 Carver County.
Are home prices or rent rising faster in Carver County, Minnesota?
Both home prices and rent are rising in Carver County, up about 6.1% and 5.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Carver County, Minnesota?
79.4% of households in Carver County, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Carver County, Minnesota?
The housing vacancy rate in Carver County, Minnesota is 2.6%, lower than the Minnesota average of 9.3%.
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