Chanhassen, Minnesota Housing Market Prices
Chanhassen 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 43% above the Minnesota median$338,751
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Median rent 43% above the Minnesota median$1,831
Housing Market Overview
| Metric | Chanhassen | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $338,751 | $236,718 | $248,835 |
| Price Trend (Annual %) | 1.0% | 6.6% | 7.5% |
| Median Gross Rent | $1,831 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chanhassen is about 43% higher than in Minnesota. Rent is about 43% 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 Chanhassen, up about 1.0% and 5.4% a year respectively. Rent is changing faster.
Median rent in Chanhassen rose about 57.5% between 2015 and 2024, from $1,163 to $1,831. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Chanhassen.
Buying the median-priced home in Chanhassen costs roughly 15.4 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 Chanhassen. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Chanhassen | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $338,751 | $236,718 | $248,835 |
| Median Household Income | $144,790 | $89,852 | $80,455 |
| Price-to-Income Ratio | 2.3 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Chanhassen rose about 0.2%, while median household income rose about 43.0% 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 | Chanhassen | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 81.0% | 65.5% | 58.5% |
| Rental Rate | 15.1% | 25.2% | 31.2% |
| Vacancy Rate | 3.9% | 9.3% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Chanhassen has a homeownership rate of 81.0%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 3.9%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Chanhassen | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.65 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1993 | 1976 | 1978 |
| Median Number of Rooms | 7.8 | 6.1 | 5.5 |
The typical housing unit in Chanhassen was built around 1993. On average, 2.7 people live in a home with about 7.8 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Chanhassen, Minnesota.
What is the median home price in Chanhassen, Minnesota?
The median home price in Chanhassen, Minnesota is $338,751, higher than the Minnesota average of $236,718.
What is the average home price in Chanhassen, Minnesota?
The typical home price in Chanhassen, Minnesota, reported as the median sale price, is $338,751. 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 Chanhassen, Minnesota?
The median gross rent in Chanhassen, Minnesota is $1,831 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in Chanhassen in 2020?
In 2020, the median gross rent in Chanhassen, Minnesota was $1,468 per month.
What is the price-to-rent ratio in Chanhassen, Minnesota?
The price-to-rent ratio in Chanhassen, Minnesota is about 15.4, meaning it would take roughly 15.4 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 Chanhassen.
Are home prices or rent rising faster in Chanhassen, Minnesota?
Both home prices and rent are rising in Chanhassen, up about 1.0% and 5.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Chanhassen, Minnesota?
81.0% of households in Chanhassen, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Chanhassen, Minnesota?
The housing vacancy rate in Chanhassen, Minnesota is 3.9%, lower than the Minnesota average of 9.3%.
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