55406 — Hennepin County, Minnesota Market Snapshot
Housing market data for zip code 55406 in Hennepin County, Minnesota. Updated monthly with median prices, days on market, and more.
Market Sales Data
99 sales in 2026 (year to date)
Median Sale Price
$377,000
Days to Sell
12
Homes Sold
99
Inventory
32
Sale-to-List
104.6%
New Listings
133
Price/SqFt
$268
Pending Sales
121
Conforming Loan Available
Most homebuyers in 55406 can comfortably use conventional financing. The median home price of $377,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
55406 is an extremely competitive market with homes selling in just 12 days on average. Buyers need pre-approval letters ready before making offers.
Sale-to-List Ratio
Homes in 55406 are selling 4.6% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 55406 can comfortably use conventional financing. The median home price of $377,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 55406 are set at the county level.
2026 Loan Limits — Hennepin County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $552,000 |
| 2 Units | $1,066,250 | $706,650 |
| 3 Units | $1,288,800 | $854,200 |
| 4 Units | $1,601,750 | $1,061,550 |
Affordability Snapshot — Zip 55406
To purchase the median home at $377,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $3,038.
Monthly Payment
$3,038
Income Required
$130,219
Principal & Interest
$2,323/mo
Down Payment (5%)
$18,850
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 55406.
Estimated Monthly Payment
$2,483
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