Eden Prairie, Minnesota Housing Market Prices
Eden Prairie 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 20% below the Minnesota median$188,949
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Median rent 43% above the Minnesota median$1,832
Housing Market Overview
| Metric | Eden Prairie | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $188,949 | $236,718 | $248,835 |
| Price Trend (Annual %) | 4.4% | 6.6% | 7.5% |
| Median Gross Rent | $1,832 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.1% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Eden Prairie is about 20% lower 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 Eden Prairie, up about 4.4% and 5.1% a year respectively. Rent is changing faster.
Median rent in Eden Prairie rose about 55.1% between 2015 and 2024, from $1,181 to $1,832. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 1.5 yearly household incomes in Eden Prairie.
Buying the median-priced home in Eden Prairie costs roughly 8.6 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 Eden Prairie. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Eden Prairie | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $188,949 | $236,718 | $248,835 |
| Median Household Income | $129,891 | $89,852 | $80,455 |
| Price-to-Income Ratio | 1.5 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Eden Prairie rose about 19.0%, while median household income rose about 33.6% 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 | Eden Prairie | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.4% | 65.5% | 58.5% |
| Rental Rate | 23.2% | 25.2% | 31.2% |
| Vacancy Rate | 3.4% | 9.3% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Eden Prairie has a homeownership rate of 73.4%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 3.4%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Eden Prairie | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1989 | 1976 | 1978 |
| Median Number of Rooms | 6.8 | 6.1 | 5.5 |
The typical housing unit in Eden Prairie was built around 1989. On average, 2.4 people live in a home with about 6.8 rooms, staying for about 14.0 years on average.
Eden Prairie, MN Housing Compared With Nearby Cities
Eden Prairie, MN is the largest of the 4 cities compared here, 62,436 residents against a local median of 52,096. Where Eden Prairie, MN breaks from the cities next to it is median home price, sitting 53% below the local median of $400,704 at $188,949.
The cities themselves sit within $119,529 of each other on median home price, a tighter band than the gap between any of them and Eden Prairie, MN, which makes it a genuine outlier here rather than one end of a wide local spread. Eden Prairie, MN has the 4th highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Eden Prairie, MN | 62,436 | $188,949 #4/4 | $1,832 #2/4 | 76.0% #1/4 |
| Shakopee, MN | 44,264 | $327,839 | $1,536 | 74.4% |
| Minnetonka, MN | 52,096 | $400,704 | $1,778 | 71.0% |
| Edina, MN | 53,267 | $447,368 | $1,843 | 72.4% |
Frequently Asked Questions
Common questions about the housing market in Eden Prairie, Minnesota.
What is the median home price in Eden Prairie, Minnesota?
The median home price in Eden Prairie, Minnesota is $188,949, lower than the Minnesota average of $236,718.
What is the average home price in Eden Prairie, Minnesota?
The typical home price in Eden Prairie, Minnesota, reported as the median sale price, is $188,949. 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 Eden Prairie, Minnesota?
The median gross rent in Eden Prairie, Minnesota is $1,832 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in Eden Prairie in 2020?
In 2020, the median gross rent in Eden Prairie, Minnesota was $1,449 per month.
What is the price-to-rent ratio in Eden Prairie, Minnesota?
The price-to-rent ratio in Eden Prairie, Minnesota is about 8.6, meaning it would take roughly 8.6 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 Eden Prairie.
Are home prices or rent rising faster in Eden Prairie, Minnesota?
Both home prices and rent are rising in Eden Prairie, up about 4.4% and 5.1% a year respectively. Rent is changing faster.
What is the homeownership rate in Eden Prairie, Minnesota?
73.4% of households in Eden Prairie, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Eden Prairie, Minnesota?
The housing vacancy rate in Eden Prairie, Minnesota is 3.4%, lower than the Minnesota average of 9.3%.
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