St. Michael, Minnesota Housing Market Prices
St. Michael 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 16% above the Minnesota median$274,989
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Median rent 12% above the Minnesota median$1,434
Housing Market Overview
| Metric | St. Michael | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $274,989 | $236,718 | $248,835 |
| Price Trend (Annual %) | -0.0% | 6.6% | 7.5% |
| Median Gross Rent | $1,434 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in St. Michael is about 16% higher than in Minnesota. Rent is about 12% higher than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2016-2024
Median Rent Prices, 2015-2024
Both home prices and rent are falling in St. Michael, down about 0.0% and 5.4% a year respectively. Rent is changing faster.
Median rent in St. Michael rose about 51.8% between 2015 and 2024, from $944 to $1,434. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in St. Michael.
Buying the median-priced home in St. Michael costs roughly 16.0 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 St. Michael. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | St. Michael | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $274,989 | $236,718 | $248,835 |
| Median Household Income | $136,727 | $89,852 | $80,455 |
| Price-to-Income Ratio | 2.0 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2016 and 2024, the median home price in St. Michael fell about 0.0%, while median household income rose about 55.5% 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 | St. Michael | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 87.9% | 65.5% | 58.5% |
| Rental Rate | 9.7% | 25.2% | 31.2% |
| Vacancy Rate | 2.4% | 9.3% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
St. Michael has a homeownership rate of 87.9%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 2.4%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | St. Michael | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.89 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1998 | 1976 | 1978 |
| Median Number of Rooms | 7.2 | 6.1 | 5.5 |
The typical housing unit in St. Michael was built around 1998. On average, 2.9 people live in a home with about 7.2 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in St. Michael, Minnesota.
What is the median home price in St. Michael, Minnesota?
The median home price in St. Michael, Minnesota is $274,989, higher than the Minnesota average of $236,718.
What is the average home price in St. Michael, Minnesota?
The typical home price in St. Michael, Minnesota, reported as the median sale price, is $274,989. 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. Michael, Minnesota?
The median gross rent in St. Michael, Minnesota is $1,434 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in St. Michael in 2020?
In 2020, the median gross rent in St. Michael, Minnesota was $1,069 per month.
What is the price-to-rent ratio in St. Michael, Minnesota?
The price-to-rent ratio in St. Michael, Minnesota is about 16.0, meaning it would take roughly 16.0 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 St. Michael.
Are home prices or rent rising faster in St. Michael, Minnesota?
Both home prices and rent are falling in St. Michael, down about 0.0% and 5.4% a year respectively. Rent is changing faster.
What is the homeownership rate in St. Michael, Minnesota?
87.9% of households in St. Michael, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in St. Michael, Minnesota?
The housing vacancy rate in St. Michael, Minnesota is 2.4%, lower than the Minnesota average of 9.3%.
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