The story of this market
The typical home in ZIP 55408 sells for about $373,400, or $235 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $1,364 a month.
ZIP 55408 — Minneapolis
The 55408 housing market remains competitive, driven by high demand for urban living and limited inventory of single-family homes. While prices have seen modest year-over-year growth, the market is balanced by a high volume of rental units and a strong professional demographic. Current conditions reflect a stable environment with steady interest from both investors and owner-occupants.
This ZIP is ideal for young professionals, renters, and urban-focused buyers who prioritize walkability, proximity to lakes, and access to the Minneapolis city center over suburban space.
Median prices moved up 2.1% 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 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 7.4% · poverty 16.4% — a mixed stability 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 5.8%/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 5.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 55408, 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 area are higher than the national average, with property crime being the most frequently reported issue. The area experiences trends consistent with urban centers in the region.
Schools serving the area are part of the Minneapolis Public Schools district, with performance ratings varying significantly across individual campuses.
The area faces standard urban climate risks, including potential for localized flooding during heavy rain events and typical Midwestern wind exposure.
Development is driven by urban infill and mixed-use projects near the Uptown and Lake Street corridors, with proximity to major Minneapolis employment hubs.
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 benefit from high walkability and extensive public transit access via Metro Transit bus lines, with a short commute to downtown Minneapolis.
The area features proximity to the Bde Maka Ska and Lake of the Isles park systems, offering extensive trails, water access, and vibrant retail districts.
The rental market is deep with a high concentration of apartment units, experiencing steady demand and moderate vacancy pressure due to the student and young professional population.
The economy is anchored by the broader Minneapolis-St. Paul metro area, featuring a mix of healthcare, retail, and professional services.
The area is well-served by major arterial roads and frequent bus transit, providing efficient access to the Minneapolis employment core.
Development is focused on high-density residential and mixed-use projects along major transit corridors.
Hennepin County Assessor manages property valuations with annual adjustments based on market sales data.
Parcels are subject to Minneapolis Public Schools and Hennepin County taxing jurisdictions.
Property insurance premiums are influenced by urban density and regional weather patterns, including storm risk.
Data retrieved from data.census.gov and Census Reporter profiles.
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®4.66.9 mi
- Valleyfair4.212.9 mi
- Great Wolf Lodge | Minnesota3.96.4 mi
- Nickelodeon Universe4.56.9 mi
- Slick City Action Park4.511.7 mi
- U.S. Bank Stadium4.62.5 mi
- Grand Casino Arena4.69.4 mi
- Minneapolis Convention Center4.51.8 mi
- Minnesota State Fair4.76.3 mi
- Topgolf Brooklyn Center4.38.5 mi
- Mall of America®4.66.9 mi
- U.S. Bank Stadium4.62.5 mi
- Como Park Zoo & Conservatory4.77.3 mi
- Minneapolis Institute of Art4.81.2 mi
- Valleyfair4.212.9 mi
- Minneapolis Institute of Art4.81.2 mi
- Science Museum of Minnesota4.69.5 mi
- University of Minnesota Landscape Arboretum4.816.9 mi
- Union Depot4.510.1 mi
- Walker Art Center4.51.4 mi
- Como Park Zoo & Conservatory4.77.3 mi
- Minneapolis Sculpture Garden4.71.5 mi
- Centennial Lakes Park4.75.8 mi
- Lake Harriet Regional Park4.81.5 mi
- Boom Island Park4.73.3 mi
- Watergate Marina4.57.1 mi
- Lake of the Isles4.80.9 mi
- Bde Maka Ska4.70.9 mi
- Bde Maka Ska4.70.9 mi
- Lake of the Isles4.80.9 mi
- Topgolf Brooklyn Center4.38.5 mi
- Edinburgh USA4.411.5 mi
- The Minikahda Club4.41.4 mi
- Puttery4.72.6 mi
- Braemar Golf Course4.47.1 mi
- Mall of America®4.66.9 mi
- Rosedale Center4.37.4 mi
- Twin Cities Premium Outlets4.59.9 mi
- Ridgedale Center4.47.2 mi
- Karmel Mall4.10.5 mi
- Minneapolis-Saint Paul International Airport4.45.8 mi
- Shoyu3.76 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Large urban lake with beaches and walking paths.
Major cycling and pedestrian corridor crossing the city.
Vibrant commercial hub with diverse restaurants and nightlife.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).