Chaska, Minnesota Housing Market Prices
Chaska 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 88% below the Minnesota median$27,802
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Median rent 21% above the Minnesota median$1,555
Housing Market Overview
| Metric | Chaska | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $27,802 | $236,718 | $248,835 |
| Price Trend (Annual %) | 31.2% | 6.6% | 7.5% |
| Median Gross Rent | $1,555 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.5% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chaska is about 88% lower than in Minnesota. Rent is about 21% 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 Chaska, up about 31.2% and 5.5% a year respectively. Home prices are changing faster.
Median rent in Chaska rose about 58.8% between 2015 and 2024, from $979 to $1,555. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 0.3 yearly household incomes in Chaska.
Buying the median-priced home in Chaska costs roughly 1.5 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 Chaska. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Chaska | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $27,802 | $236,718 | $248,835 |
| Median Household Income | $108,985 | $89,852 | $80,455 |
| Price-to-Income Ratio | 0.3 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Chaska fell about 75.6%, while median household income rose about 49.3% 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 | Chaska | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.6% | 65.5% | 58.5% |
| Rental Rate | 32.8% | 25.2% | 31.2% |
| Vacancy Rate | 0.6% | 9.3% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Chaska has a homeownership rate of 66.6%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 0.6%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Chaska | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1995 | 1976 | 1978 |
| Median Number of Rooms | 6.4 | 6.1 | 5.5 |
The typical housing unit in Chaska was built around 1995. On average, 2.6 people live in a home with about 6.4 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Chaska, Minnesota.
What is the median home price in Chaska, Minnesota?
The median home price in Chaska, Minnesota is $27,802, lower than the Minnesota average of $236,718.
What is the average home price in Chaska, Minnesota?
The typical home price in Chaska, Minnesota, reported as the median sale price, is $27,802. 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 Chaska, Minnesota?
The median gross rent in Chaska, Minnesota is $1,555 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in Chaska in 2020?
In 2020, the median gross rent in Chaska, Minnesota was $1,159 per month.
What is the price-to-rent ratio in Chaska, Minnesota?
The price-to-rent ratio in Chaska, Minnesota is about 1.5, meaning it would take roughly 1.5 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 Chaska.
Are home prices or rent rising faster in Chaska, Minnesota?
Both home prices and rent are rising in Chaska, up about 31.2% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Chaska, Minnesota?
66.6% of households in Chaska, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Chaska, Minnesota?
The housing vacancy rate in Chaska, Minnesota is 0.6%, lower than the Minnesota average of 9.3%.
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