55407 — Hennepin County, Minnesota Market Snapshot
Housing market data for zip code 55407 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
$335,000
Days to Sell
18
Homes Sold
99
Inventory
78
Sale-to-List
102.2%
New Listings
146
Price/SqFt
$214
Pending Sales
117
Conforming Loan Available
Most homebuyers in 55407 can comfortably use conventional financing. The median home price of $335,000 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
Homes in 55407 are moving quickly at 18 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes in 55407 are selling 2.2% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 55407 can comfortably use conventional financing. The median home price of $335,000 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 55407 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 55407
To purchase the median home at $335,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $2,717.
Monthly Payment
$2,717
Income Required
$116,428
Principal & Interest
$2,064/mo
Down Payment (5%)
$16,750
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 55407.
Estimated Monthly Payment
$2,223
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