Eden Prairie, MN Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Eden Prairie, MN Housing Market Trends

With 64,198 people, 24,790 houses or apartments, and a median cost of homes of $447,790, Eden Prairie house prices are not only among the most expensive in Minnesota, Eden Prairie real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Eden Prairie, accounting for 54.38% of the city's housing units. Other types of housing that are prevalent in Eden Prairie include large apartment complexes or high rise apartments ( 23.03%), row houses and other attached homes ( 20.42%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.93%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Eden Prairie. Owner-occupied housing accounts for 72.81% of Eden Prairie's homes, and 52.76% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Eden Prairie built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Eden Prairie built between 2000 and later ( 16.69%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.98%). There's also some housing in Eden Prairie built before 1939 ( 1.27%).

Eden Prairie Home Appreciation Rates

Real estate appreciation rates in Eden Prairie's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.95% during the period.

Over the last year, Eden Prairie appreciation rates have trailed the rest of the nation. In the last twelve months, Eden Prairie's appreciation rate has been 11.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Eden Prairie were at 5.42%, which equates to an annual appreciation rate of 23.51%.

Relative to Minnesota, our data show that Eden Prairie's latest annual appreciation rate is lower than 70% of the other cities and towns in Minnesota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Eden Prairie differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Eden Prairie - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Eden Prairie real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$447,790

Eden Prairie, MN HOME PRICES

> $1,218,000
2.0%
2.0%
$914,001 - $1,218,000
4.1%
4.1%
$609,001 - $914,000
15.8%
15.8%
$487,001 - $609,000
16.7%
16.7%
$365,001 - $487,000
23.0%
23.0%
$244,001 - $365,000
23.3%
23.3%
$122,001 - $244,000
13.7%
13.7%
$61,001 - $122,000
0.7%
0.7%
$0 - $61,000
0.7%
0.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for MN

Value Relative To Nation

Number Of Homes And Apartments:
24,790

Eden Prairie Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2021 Q2 - 2021 Q3
Last 12 Months:
2020 Q3 - 2021 Q3
Last 2 Years:
2019 Q3 - 2021 Q3
Last 5 Years:
2016 Q3 - 2021 Q3
Last 10 Years:
2011 Q3 - 2021 Q3
Since 2000:
2000 Q1 - 2021 Q3
69.07% 2.44%
2
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,138 / per month

Homeownership Rate

Owners
72.8%
72.8%
Renters
27.2%
27.2%
Vacant
3.9%
3.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
16.7%
16.7%
1970 - 1999
75.1%
75.1%
1940 - 1969
7.0%
7.0%
1939 or Older
1.3%
1.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
54.4%
54.4%
Townhomes
20.4%
20.4%
Small Apt. Buildings
1.9%
1.9%
Apt. Complexes
23.0%
23.0%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.3%
1.3%
1 Bedroom
9.4%
9.4%
2 Bedrooms
23.8%
23.8%
3 Bedrooms
25.2%
25.2%
4 Bedrooms
27.5%
27.5%
5 or more bedrooms
12.7%
12.7%
0.0% 100.0%
% OF HOMES