Edina, Minnesota Housing Market Prices
Edina 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 89% above the Minnesota median$447,368
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Median rent 44% above the Minnesota median$1,843
Housing Market Overview
| Metric | Edina | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $447,368 | $236,718 | $248,835 |
| Price Trend (Annual %) | 5.0% | 6.6% | 7.5% |
| Median Gross Rent | $1,843 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 4.7% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Edina is about 89% higher than in Minnesota. Rent is about 44% 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 Edina, up about 5.0% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Edina rose about 55.3% between 2015 and 2024, from $1,187 to $1,843. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Edina.
Buying the median-priced home in Edina costs roughly 20.2 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 Edina. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Edina | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $447,368 | $236,718 | $248,835 |
| Median Household Income | $132,585 | $89,852 | $80,455 |
| Price-to-Income Ratio | 3.4 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Edina rose about 31.7%, while median household income rose about 58.7% 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 | Edina | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.9% | 65.5% | 58.5% |
| Rental Rate | 26.3% | 25.2% | 31.2% |
| Vacancy Rate | 4.8% | 9.3% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Edina has a homeownership rate of 68.9%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 4.8%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Edina | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1970 | 1976 | 1978 |
| Median Number of Rooms | 6.7 | 6.1 | 5.5 |
The typical housing unit in Edina was built around 1970. On average, 2.3 people live in a home with about 6.7 rooms, staying for about 14.0 years on average.
Edina, MN Housing Compared With Nearby Cities
Edina, MN is typical in size for this group, 53,267 residents against a local median of 49,539, so the measures below are close to a like for like comparison. Edina, MN's median home price, at $447,368, runs 29% above the $345,554 typical of the cities around it.
The cities themselves spread $233,884 on median home price, so Edina, MN sits at one end of an already wide local range rather than apart from it. Edina, MN has the highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Edina, MN | 53,267 | $447,368 #1/4 | $1,843 #1/4 | 72.4% #1/4 |
| St. Louis Park, MN | 49,539 | $406,830 | $1,644 | 57.8% |
| Bloomington, MN | 88,700 | $345,554 | $1,561 | 65.7% |
| Golden Valley, MN | 21,735 | $172,946 | $1,785 | 70.7% |
Frequently Asked Questions
Common questions about the housing market in Edina, Minnesota.
What is the median home price in Edina, Minnesota?
The median home price in Edina, Minnesota is $447,368, higher than the Minnesota average of $236,718.
What is the average home price in Edina, Minnesota?
The typical home price in Edina, Minnesota, reported as the median sale price, is $447,368. 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 Edina, Minnesota?
The median gross rent in Edina, Minnesota is $1,843 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in Edina in 2020?
In 2020, the median gross rent in Edina, Minnesota was $1,441 per month.
What is the price-to-rent ratio in Edina, Minnesota?
The price-to-rent ratio in Edina, Minnesota is about 20.2, meaning it would take roughly 20.2 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 Edina.
Are home prices or rent rising faster in Edina, Minnesota?
Both home prices and rent are rising in Edina, up about 5.0% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Edina, Minnesota?
68.9% of households in Edina, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Edina, Minnesota?
The housing vacancy rate in Edina, Minnesota is 4.8%, lower than the Minnesota average of 9.3%.
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