Plymouth, Minnesota Housing Market Prices
Plymouth 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 75% below the Minnesota median$59,714
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Median rent 38% above the Minnesota median$1,767
Housing Market Overview
| Metric | Plymouth | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $59,714 | $236,718 | $248,835 |
| Price Trend (Annual %) | -9.2% | 6.6% | 7.5% |
| Median Gross Rent | $1,767 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.1% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Plymouth is about 75% lower than in Minnesota. Rent is about 38% higher than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Plymouth: home prices fell about 9.2% a year while rent rose about 5.1% a year. That is an unusual pattern worth watching.
Median rent in Plymouth rose about 54.6% between 2015 and 2024, from $1,143 to $1,767. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 0.4 yearly household incomes in Plymouth.
Buying the median-priced home in Plymouth costs roughly 2.8 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 Plymouth. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Plymouth | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $59,714 | $236,718 | $248,835 |
| Median Household Income | $136,206 | $89,852 | $80,455 |
| Price-to-Income Ratio | 0.4 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Plymouth fell about 81.5%, while median household income rose about 56.5% 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 | Plymouth | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.3% | 65.5% | 58.5% |
| Rental Rate | 23.8% | 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 |
Plymouth has a homeownership rate of 72.3%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 3.9%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Plymouth | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1989 | 1976 | 1978 |
| Median Number of Rooms | 7.0 | 6.1 | 5.5 |
The typical housing unit in Plymouth was built around 1989. On average, 2.4 people live in a home with about 7.0 rooms, staying for about 14.0 years on average.
Plymouth, MN Housing Compared With Nearby Cities
How Plymouth, MN compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Plymouth, MN | 79,324 | $59,714 #2/2 | $1,767 #2/2 | 75.2% #2/2 |
| Maple Grove, MN | 71,244 | $309,616 | $1,867 | 82.3% |
Frequently Asked Questions
Common questions about the housing market in Plymouth, Minnesota.
What is the median home price in Plymouth, Minnesota?
The median home price in Plymouth, Minnesota is $59,714, lower than the Minnesota average of $236,718.
What is the average home price in Plymouth, Minnesota?
The typical home price in Plymouth, Minnesota, reported as the median sale price, is $59,714. 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 Plymouth, Minnesota?
The median gross rent in Plymouth, Minnesota is $1,767 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in Plymouth in 2020?
In 2020, the median gross rent in Plymouth, Minnesota was $1,417 per month.
What is the price-to-rent ratio in Plymouth, Minnesota?
The price-to-rent ratio in Plymouth, Minnesota is about 2.8, meaning it would take roughly 2.8 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 Plymouth.
Are home prices or rent rising faster in Plymouth, Minnesota?
Home prices and rent are moving in opposite directions in Plymouth: home prices fell about 9.2% a year while rent rose about 5.1% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Plymouth, Minnesota?
72.3% of households in Plymouth, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Plymouth, Minnesota?
The housing vacancy rate in Plymouth, Minnesota is 3.9%, lower than the Minnesota average of 9.3%.
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