Shoreview, Minnesota Housing Market Prices
Shoreview 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 41% above the Minnesota median$332,608
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Median rent 30% above the Minnesota median$1,660
Housing Market Overview
| Metric | Shoreview | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $332,608 | $236,718 | $248,835 |
| Price Trend (Annual %) | 492.0% | 6.6% | 7.5% |
| Median Gross Rent | $1,660 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 4.7% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Shoreview is about 41% higher than in Minnesota. Rent is about 30% higher than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2019-2023
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Shoreview, up about 492.0% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Shoreview rose about 46.1% between 2015 and 2024, from $1,137 to $1,660. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Shoreview.
Buying the median-priced home in Shoreview costs roughly 16.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Shoreview. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Shoreview | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $332,608 | $236,718 | $248,835 |
| Median Household Income | $109,614 | $89,852 | $80,455 |
| Price-to-Income Ratio | 3.0 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2019 and 2023, the median home price in Shoreview rose about 20.9%, while median household income rose about 34.7% 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 | Shoreview | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 78.5% | 65.5% | 58.5% |
| Rental Rate | 19.4% | 25.2% | 31.2% |
| Vacancy Rate | 2.1% | 9.3% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Shoreview has a homeownership rate of 78.5%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 2.1%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Shoreview | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1980 | 1976 | 1978 |
| Median Number of Rooms | 6.5 | 6.1 | 5.5 |
The typical housing unit in Shoreview was built around 1980. On average, 2.3 people live in a home with about 6.5 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Shoreview, Minnesota.
What is the median home price in Shoreview, Minnesota?
The median home price in Shoreview, Minnesota is $332,608, higher than the Minnesota average of $236,718.
What is the average home price in Shoreview, Minnesota?
The typical home price in Shoreview, Minnesota, reported as the median sale price, is $332,608. 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 Shoreview, Minnesota?
The median gross rent in Shoreview, Minnesota is $1,660 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in Shoreview in 2020?
In 2020, the median gross rent in Shoreview, Minnesota was $1,245 per month.
What is the price-to-rent ratio in Shoreview, Minnesota?
The price-to-rent ratio in Shoreview, Minnesota is about 16.7, meaning it would take roughly 16.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Shoreview.
Are home prices or rent rising faster in Shoreview, Minnesota?
Both home prices and rent are rising in Shoreview, up about 492.0% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Shoreview, Minnesota?
78.5% of households in Shoreview, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Shoreview, Minnesota?
The housing vacancy rate in Shoreview, Minnesota is 2.1%, lower than the Minnesota average of 9.3%.
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