55116 — Ramsey County, Minnesota Market Snapshot
Housing market data for zip code 55116 in Ramsey County, Minnesota. Updated monthly with median prices, days on market, and more.
Market Sales Data
64 sales in 2026 (year to date)
Median Sale Price
$499,000
Days to Sell
15
Homes Sold
64
Inventory
26
Sale-to-List
102.2%
New Listings
94
Price/SqFt
$279
Pending Sales
87
Conforming Loan Available
Most homebuyers in 55116 can comfortably use conventional financing. The median home price of $499,000 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 55116 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 in 55116 are selling 2.2% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 55116 can comfortably use conventional financing. The median home price of $499,000 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 55116 are set at the county level.
2026 Loan Limits — Ramsey 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 55116
To purchase the median home at $499,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $3,973.
Monthly Payment
$3,973
Income Required
$170,279
Principal & Interest
$3,075/mo
Down Payment (5%)
$24,950
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 55116.
Estimated Monthly Payment
$3,238
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