55416 — Hennepin County, Minnesota Market Snapshot
Housing market data for zip code 55416 in Hennepin County, Minnesota. Updated monthly with median prices, days on market, and more.
Market Sales Data
104 sales in 2026 (year to date)
Median Sale Price
$572,500
Days to Sell
15
Homes Sold
104
Inventory
48
Sale-to-List
100.7%
New Listings
121
Price/SqFt
$275
Pending Sales
111
Conforming Loan Available
Most homebuyers in 55416 can comfortably use conventional financing. The median home price of $572,500 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 55416 are moving quickly at 15 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes are selling very close to asking price in 55416 (100.7% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 55416 can comfortably use conventional financing. The median home price of $572,500 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 55416 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 55416
To purchase the median home at $572,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $4,536.
Monthly Payment
$4,536
Income Required
$194,413
Principal & Interest
$3,528/mo
Down Payment (5%)
$28,625
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 55416.
Estimated Monthly Payment
$3,693
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