55340 — Hennepin County, Minnesota Market Snapshot
Housing market data for zip code 55340 in Hennepin County, Minnesota. Updated monthly with median prices, days on market, and more.
Market Sales Data
71 sales in 2026 (year to date)
Median Sale Price
$711,105
Days to Sell
55
Homes Sold
71
Inventory
83
Sale-to-List
98.0%
New Listings
116
Price/SqFt
$250
Pending Sales
78
Conforming Loan Available
The median home in 55340 at $711,105 falls within the 2026 conforming loan limit of $832,750, but buyers putting less than 5% down may need jumbo financing. This makes down payment strategy especially important in this market.
Market Insights
Market Temperature
55340's market is balanced with homes taking an average of 55 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
The average home in 55340 sells for 2.0% below asking price (98.0% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
The median home in 55340 at $711,105 falls within the 2026 conforming loan limit of $832,750, but buyers putting less than 5% down may need jumbo financing. This makes down payment strategy especially important in this market.
Loan limits in 55340 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 55340
To purchase the median home at $711,105 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $5,598.
Monthly Payment
$5,598
Income Required
$239,925
Principal & Interest
$4,382/mo
Down Payment (5%)
$35,555
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 55340.
Estimated Monthly Payment
$4,551
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