The story of this market
The typical home in ZIP 55124 sells for about $378,250, or $173 per square foot.
Prices are up +2.9% from a year ago, so sellers still have some momentum. Homes take about 34 days to sell. HUD's fair market rent for a two-bedroom is $1,736 a month.
ZIP 55124 — Apple Valley
The housing market in 55124 remains competitive with steady price appreciation and low inventory levels. Demand is driven by the area's strong school district and suburban appeal, though higher interest rates have moderated the pace of sales compared to previous years.
This ZIP is ideal for families seeking high-quality public schools and suburban amenities, as well as commuters looking for a balance between residential tranquility and access to the Twin Cities.
Median prices moved up 2.9% year over year.
Homes spend a median of 34 days on market with 2.8 months of supply — a fast-moving market.
22% of listings have cut prices · homes sell at 99.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.1% · poverty 6.0% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 55124, Dakota County MN
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Apple Valley maintains a crime rate significantly lower than the national average, with property crime being the most frequently reported incident type in the area.
The area is served by the highly-rated Rosemount-Apple Valley-Eagan School District (ISD 196), which is consistently recognized for strong academic performance and college readiness.
The region faces moderate risks related to severe winter weather and occasional summer storms, with standard flood insurance requirements for properties located in designated floodplain zones.
Apple Valley benefits from its proximity to the Twin Cities employment core, with a stable local economy supported by retail, healthcare, and professional services sectors.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Minnesota) — Condominium Unit Taxation: Each unit constitutes a separate parcel for tax purposes. If a declaration is recorded at least 30 days before a tax installment is due, the taxing authority must split the taxes among the units. State (Minnesota) — Minnesota General Property Tax Classification System: Property tax is calculated by applying a class rate to the parcel's estimated market value to determine tax capacity, then multiplying by the local tax rate. For residential homesteads (Class 1a), the rate is 1.00% for the first $500,000 of market value and 1.
Residents typically commute via Cedar Avenue (MN-77) or I-35E to reach major employment hubs in Minneapolis and St. Paul, with average commute times around 25-30 minutes.
The ZIP features extensive park systems including the Apple Valley Family Aquatic Center and the Minnesota Zoo, alongside numerous walking trails and local golf courses.
The rental market is characterized by low vacancy rates and consistent demand, driven by the area's suburban appeal and proximity to regional transit corridors.
The local economy is anchored by the Minnesota Zoo and a robust retail sector along the Cedar Avenue corridor, with many residents employed in the broader Twin Cities metro area.
The area is served by the MVTA bus system, providing express transit options to downtown Minneapolis and the Mall of America.
Ongoing development focuses on mixed-use residential and commercial projects near the downtown area to increase density and walkability.
Dakota County utilizes a mass appraisal system to determine property values, with annual adjustments based on market sales data.
Parcels are subject to levies from ISD 196, Dakota County, and the City of Apple Valley, with specific utility districts for water and sewer services.
Property insurance premiums are influenced by regional weather patterns, including hail and wind risk, which are common in the Upper Midwest.
Data retrieved from data.census.gov ZCTA 55124 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Mall of America®4.67.6 mi
- Valleyfair4.212.8 mi
- Great Wolf Lodge | Minnesota3.98.1 mi
- Nickelodeon Universe4.57.6 mi
- Edinborough Park4.69.9 mi
- U.S. Bank Stadium4.615.7 mi
- Grand Casino Arena4.614.3 mi
- Minneapolis Convention Center4.515.7 mi
- Minnesota State Fair4.715.8 mi
- Canterbury Park4.514.3 mi
- Mall of America®4.67.6 mi
- Minnesota Zoo4.61.2 mi
- Valleyfair4.212.8 mi
- Great Wolf Lodge | Minnesota3.98.1 mi
- AMC Southdale 163.910.9 mi
- Minneapolis Institute of Art4.814.9 mi
- Science Museum of Minnesota4.614.2 mi
- Union Depot4.514.7 mi
- Walker Art Center4.515.7 mi
- Minnesota State Capitol4.715 mi
- Centennial Lakes Park4.710.2 mi
- Edinborough Park4.69.9 mi
- Lebanon Hills Regional Park4.84.6 mi
- Hidden Falls Regional Park4.610.8 mi
- Minnehaha Falls4.811.5 mi
- Braemar Golf Course4.412.2 mi
- Emerald Greens Golf Course411.4 mi
- Legends Golf Club4.79 mi
- Hiawatha Golf Course3.812 mi
- Inver Wood Golf Course4.19.2 mi
- Mall of America®4.67.6 mi
- Twin Cities Premium Outlets4.54.6 mi
- Southdale Center4.211 mi
- Nickelodeon Universe4.57.6 mi
- Galleria4.510.8 mi
- Minneapolis-Saint Paul International Airport4.49.4 mi
- Shoyu3.79.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major regional destination featuring extensive animal exhibits and walking paths.
Popular seasonal water park serving the local community.
Large regional park offering hiking, biking, and lake access nearby.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).