The story of this market
The typical home in ZIP 55403 sells for about $340,000, or $235 per square foot.
Prices are roughly flat from a year ago (+0.7%), a market in balance. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $1,241 a month.
ZIP 55403 — Minneapolis
The 55403 housing market remains competitive with steady price appreciation and high demand for urban living. While inventory remains tight, the market is supported by strong employment in the downtown core and a high concentration of professional renters. Figures for specific metrics like months of supply are based on broader Minneapolis market trends as ZIP-specific data is not published.
This ZIP is ideal for young professionals, urban-dwelling singles, and those seeking a walkable lifestyle near the cultural and employment hubs of downtown Minneapolis.
Median prices moved up 0.7% year over year.
Homes spend a median of 42 days on market with 3.2 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 99% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.8% · poverty 16.1% — 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 3.7%/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 4.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 55403, Hennepin 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.
Crime rates in the 55403 area are higher than the national average, consistent with its dense urban core location in Minneapolis.
Schools serving the area are part of the Minneapolis Public Schools district, with performance ratings varying significantly by individual school site.
The area faces standard urban climate risks, including potential for localized flooding during heavy rain events and typical Midwestern wind exposure.
The area benefits from proximity to the Minneapolis central business district, with ongoing redevelopment of historic properties and high-density residential infill.
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 enjoy excellent access to downtown Minneapolis via major thoroughfares and public transit, with many amenities within walking or biking distance.
The ZIP features proximity to Loring Park, the Minneapolis Sculpture Garden, and the Walker Art Center, offering significant cultural and green space access.
The rental market is highly active with a high concentration of multi-family units and strong demand from young professionals and students.
The economy is anchored by major employers in downtown Minneapolis, including finance, healthcare, and retail headquarters.
The area is served by extensive Metro Transit bus routes and is highly accessible to major highway corridors like I-94 and I-394.
Development is focused on high-density residential and mixed-use projects to support the growing urban population.
Parcels are subject to Minneapolis Public Schools and Hennepin County taxing jurisdictions.
Standard urban property insurance market with typical coverage requirements for multi-family and historic residential structures.
Data retrieved from data.census.gov ZCTA 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®4.68.2 mi
- Valleyfair4.214.3 mi
- Great Wolf Lodge | Minnesota3.97.7 mi
- Nickelodeon Universe4.58.2 mi
- Slick City Action Park4.510.7 mi
- U.S. Bank Stadium4.61.5 mi
- Grand Casino Arena4.69.3 mi
- Minneapolis Convention Center4.50.7 mi
- Minnesota State Fair4.75.7 mi
- Topgolf Brooklyn Center4.37.1 mi
- Mall of America®4.68.2 mi
- U.S. Bank Stadium4.61.5 mi
- Como Park Zoo & Conservatory4.76.7 mi
- Minneapolis Institute of Art4.81 mi
- Great Wolf Lodge | Minnesota3.97.7 mi
- Minneapolis Institute of Art4.81 mi
- Science Museum of Minnesota4.69.4 mi
- University of Minnesota Landscape Arboretum4.817.7 mi
- Union Depot4.510 mi
- Walker Art Center4.50.1 mi
- Como Park Zoo & Conservatory4.76.7 mi
- Minneapolis Sculpture Garden4.70.1 mi
- Centennial Lakes Park4.77.3 mi
- Lake Harriet Regional Park4.83 mi
- Boom Island Park4.71.8 mi
- Lake of the Isles4.81.4 mi
- Lake of the Isles4.81.4 mi
- Topgolf Brooklyn Center4.37.1 mi
- Edinburgh USA4.410.1 mi
- The Minikahda Club4.42.4 mi
- Puttery4.71.2 mi
- Braemar Golf Course4.48.5 mi
- Mall of America®4.68.2 mi
- Rosedale Center4.36.4 mi
- Twin Cities Premium Outlets4.511.2 mi
- Ridgedale Center4.47.3 mi
- Karmel Mall4.11.4 mi
- Minneapolis-Saint Paul International Airport4.46.8 mi
- Shoyu3.77.1 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 urban park hosting community events and festivals.
Home to the iconic Spoonbridge and Cherry sculpture.
A world-renowned contemporary art museum.
Key-figure check: median price corroborated by the published ten-year series (2024) (within 12.5%).