St. Louis Park, Minnesota Housing Market Prices
St. Louis Park 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 72% above the Minnesota median$406,830
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Median rent 28% above the Minnesota median$1,644
Housing Market Overview
| Metric | St. Louis Park | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $406,830 | $236,718 | $248,835 |
| Price Trend (Annual %) | 9.5% | 6.6% | 7.5% |
| Median Gross Rent | $1,644 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.8% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in St. Louis Park is about 72% higher than in Minnesota. Rent is about 28% 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 St. Louis Park, up about 9.5% and 5.8% a year respectively. Home prices are changing faster.
Median rent in St. Louis Park rose about 66.2% between 2015 and 2024, from $989 to $1,644. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in St. Louis Park.
Buying the median-priced home in St. Louis Park costs roughly 20.6 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 St. Louis Park. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | St. Louis Park | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $406,830 | $236,718 | $248,835 |
| Median Household Income | $101,436 | $89,852 | $80,455 |
| Price-to-Income Ratio | 4.0 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in St. Louis Park rose about 173.6%, while median household income rose about 65.2% 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 | St. Louis Park | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.6% | 65.5% | 58.5% |
| Rental Rate | 39.9% | 25.2% | 31.2% |
| Vacancy Rate | 5.5% | 9.3% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
St. Louis Park has a homeownership rate of 54.6%, lower than the Minnesota average of 65.5%. Its housing vacancy rate is 5.5%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | St. Louis Park | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.99 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1968 | 1976 | 1978 |
| Median Number of Rooms | 5.0 | 6.1 | 5.5 |
The typical housing unit in St. Louis Park was built around 1968. On average, 2.0 people live in a home with about 5.0 rooms, staying for about 12.0 years on average.
St. Louis Park, MN Housing Compared With Nearby Cities
How St. Louis Park, MN compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| St. Louis Park, MN | 49,539 | $406,830 #2/3 | $1,644 #3/3 | 57.8% #3/3 |
| Golden Valley, MN | 21,735 | $172,946 | $1,785 | 70.7% |
| Edina, MN | 53,267 | $447,368 | $1,843 | 72.4% |
Frequently Asked Questions
Common questions about the housing market in St. Louis Park, Minnesota.
What is the median home price in St. Louis Park, Minnesota?
The median home price in St. Louis Park, Minnesota is $406,830, higher than the Minnesota average of $236,718.
What is the average home price in St. Louis Park, Minnesota?
The typical home price in St. Louis Park, Minnesota, reported as the median sale price, is $406,830. 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 St. Louis Park, Minnesota?
The median gross rent in St. Louis Park, Minnesota is $1,644 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in St. Louis Park in 2020?
In 2020, the median gross rent in St. Louis Park, Minnesota was $1,267 per month.
What is the price-to-rent ratio in St. Louis Park, Minnesota?
The price-to-rent ratio in St. Louis Park, Minnesota is about 20.6, meaning it would take roughly 20.6 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 St. Louis Park.
Are home prices or rent rising faster in St. Louis Park, Minnesota?
Both home prices and rent are rising in St. Louis Park, up about 9.5% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in St. Louis Park, Minnesota?
54.6% of households in St. Louis Park, Minnesota own their home, lower than the Minnesota average of 65.5%.
What is the vacancy rate in St. Louis Park, Minnesota?
The housing vacancy rate in St. Louis Park, Minnesota is 5.5%, lower than the Minnesota average of 9.3%.
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