Dakota County, Minnesota Housing Market Prices
Dakota 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 74% above the Minnesota median Among the 3 most expensive counties in Minnesota$412,524
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Median rent 21% above the Minnesota median Among the 3 most expensive counties in Minnesota$1,548
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Dakota County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $412,524 | $236,718 | $248,835 |
| Price Trend (Annual %) | 15.1% | 6.6% | 7.5% |
| Median Gross Rent | $1,548 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.6% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dakota County is about 74% higher 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 Dakota County, up about 15.1% and 5.6% a year respectively. Home prices are changing faster.
Median rent in Dakota County rose about 59.5% between 2015 and 2024, from $970 to $1,548. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Dakota County.
Buying the median-priced home in Dakota County costs roughly 22.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Dakota County. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Dakota County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $412,524 | $236,718 | $248,835 |
| Median Household Income | $106,144 | $89,852 | $80,455 |
| Price-to-Income Ratio | 3.9 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Dakota County rose about 167.5%, while median household income rose about 39.2% between 2009 and 2025 — 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 | Dakota County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.0% | 65.5% | 58.5% |
| Rental Rate | 24.4% | 25.2% | 31.2% |
| Vacancy Rate | 2.5% | 9.3% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Dakota County has a homeownership rate of 73.0%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 2.5%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Dakota County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1981 | 1976 | 1978 |
| Median Number of Rooms | 6.5 | 6.1 | 5.5 |
The typical housing unit in Dakota County was built around 1981. On average, 2.5 people live in a home with about 6.5 rooms, staying for about 15.0 years on average.
Dakota County, MN Housing Compared With Nearby Counties
Dakota County, MN is the 2nd largest of the 6 counties compared here, 445,396 residents against a local median of 154,543. Where Dakota County, MN breaks from the counties next to it is median home price, sitting 29% above the local median of $320,984 at $412,524.
Median rent tells the same story from another angle: $1,548 against a local median of $1,329, 16% above it. The counties themselves spread $174,042 on median home price, so Dakota County, MN sits at one end of an already wide local range rather than apart from it. Dakota County, MN has the highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Dakota County, MN | 445,396 | $412,524 #1/6 | $1,548 #3/6 | 74.9% #5/6 |
| Ramsey County, MN | 542,690 | $320,984 | $1,329 | 60.6% |
| Rice County, MN | 67,917 | $383,335 | $1,082 | 76.3% |
| Washington County, MN | 276,224 | $209,293 | $1,710 | 81.3% |
| Goodhue County, MN | 47,943 | $325,175 | $966 | 78.8% |
| Scott County, MN | 154,543 | $282,373 | $1,568 | 83.8% |
Frequently Asked Questions
Common questions about the housing market in Dakota County, Minnesota.
What is the median home price in Dakota County, Minnesota?
The median home price in Dakota County, Minnesota is $412,524, higher than the Minnesota average of $236,718.
What is the average home price in Dakota County, Minnesota?
The typical home price in Dakota County, Minnesota, reported as the median sale price, is $412,524. 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 Dakota County, Minnesota?
The median gross rent in Dakota County, Minnesota is $1,548 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in Dakota County in 2020?
In 2020, the median gross rent in Dakota County, Minnesota was $1,234 per month.
What is the price-to-rent ratio in Dakota County, Minnesota?
The price-to-rent ratio in Dakota County, Minnesota is about 22.2, meaning it would take roughly 22.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Dakota County.
Are home prices or rent rising faster in Dakota County, Minnesota?
Both home prices and rent are rising in Dakota County, up about 15.1% and 5.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Dakota County, Minnesota?
73.0% of households in Dakota County, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Dakota County, Minnesota?
The housing vacancy rate in Dakota County, Minnesota is 2.5%, lower than the Minnesota average of 9.3%.
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