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Featured local agent — Inver Grove Heights, MN
Sarah Mitchell
Compass Real Estate · Inver Grove Heights, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Inver Grove Heights, MN Housing Market
The typical home in Inver Grove Heights, MN is worth $374,728, rose 0.7% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $372,500, +0.7% year over year (through May 2026). With 1.9 months of supply and homes going under contract in about 30 days, Inver Grove Heights is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $374,728 home is about $2,001/mo in principal and interest.
Key numbers for Inver Grove Heights, MN
Typical home value
$374,728
+0.7% in 12 months
Zillow, August 2026
Typical asking rent
$1,809/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$372,500
+0.7% year over year
Redfin, through May 2026
Days on market
30
Average pace
Redfin, through May 2026
Active listings
78
1.9 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$104,055
Home costs 3.6x income
U.S. Census ACS, 2023
Sale-to-list ratio
99.7%
Selling below asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Inver Grove Heights a buyer's or seller's market?
Inver Grove Heights, MN is a seller's market, based on 1.9 months of supply and homes selling in about 30 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Inver Grove Heights housing market data show?
Every row below is Redfin's final published month for Inver Grove Heights, MN. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $372,500 |
| Median list price | $399,950 |
| Year-over-year price change | +0.7% |
| Median price per sq ft | $194/sq ft |
| Median days on market | 30 days |
| Active inventory | 78 listings |
| Months of supply | 1.9 months |
| Sale-to-list price ratio | 99.7% |
| Homes sold (that month) | 42 |
| New listings (that month) | 51 |
| Listings with a price cut | 37.2% |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Inver Grove Heights is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Inver Grove Heights is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Inver Grove Heights home prices moved?
Over the last three years the median sale price in Inver Grove Heights, MN fell 1.5%, from $377,995 to $372,500. The live Zillow value series has rose 0.7% in the last 12 months, which is the more current read now that Redfin's series has stopped. 37.2% of Inver Grove Heights listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 1.9 months while the sale-to-list ratio slips below its current 99.7%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Inver Grove Heights?
Priced off the typical home value of $374,728 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $74,946 | $299,782 | $2,001/mo |
| 5% | $18,736 | $355,991 | $2,376/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $2,001, that implies roughly $85,736 a year before you add taxes and insurance. The median household in Inver Grove Heights earns $104,055, about $18,319 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 3.6x — above the historical 3x norm but in line with much of the country in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Inver Grove Heights in the next 12 months?
Tell us your timeline. We send the Inver Grove Heights market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Inver Grove Heights?
Typical asking rent in Inver Grove Heights, MN is $1,809/mo, against a typical home value of $374,728. That is a price-to-rent ratio of 17.3x, which means buying and renting land close enough together that the decision turns on how long you stay and your down payment. Compared head to head, 20% down puts principal and interest at $2,001 a month — $192 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Inver Grove Heights?
Active listings in Inver Grove Heights, MN went from 92 in May 2025 to 78 in May 2026, a -15.2% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 87 | 39 |
| July 2025 | 90 | 42 |
| August 2025 | 84 | 38 |
| September 2025 | 82 | 31 |
| October 2025 | 91 | 39 |
| November 2025 | 74 | 21 |
| December 2025 | 62 | 15 |
| January 2026 | 66 | 27 |
| February 2026 | 66 | 30 |
| March 2026 | 69 | 51 |
| April 2026 | 86 | 56 |
| May 2026 | 78 | 51 |
Redfin, through May 2026
How does Inver Grove Heights compare to Minnesota and the U.S.?
Inver Grove Heights homes sell for $372,500 — 0% above the Minnesota median of $372,300. Against the national median of $410,700, Inver Grove Heights runs 9% lower. Year-over-year, Inver Grove Heights moved +0.7% against Minnesota's +1.3% — a smaller swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Inver Grove Heights, MN | $372,500 | +0.7% | 30 days |
| Minnesota statewide | $372,300 | +1.3% | 25 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Inver Grove Heights
What buyers should watch
- Months of supply, currently 1.9. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 37.2%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $375 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $374,728 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Inver Grove Heights listing goes under contract in 30 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 99.7% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Inver Grove Heights added 51 new listings against 42 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +0.7% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Inver Grove Heights varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Inver Grove Heights
There are currently 78 homes listed for sale in Inver Grove Heights, Minnesota. The median listing price is $400K.
Active listings
78
Homes on market
Median list price
$400K
Avg. days on market
30
Days until sale
New this week
51
Newly listed
How much do homes cost in Inver Grove Heights by property type?
How the Inver Grove Heights, MN market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $580,000 | $197/sq ft | 22 | 22 days |
| Condo / co-op | $172,500 | $156/sq ft | 2 | 52 days |
| Townhouse | $292,424 | $190/sq ft | 18 | 35 days |
Who lives in Inver Grove Heights?
American Community Survey estimates for Inver Grove Heights. U.S. Census ACS, 2023
Population
35,772
Households
14,598
Median income
$104,055/yr
Median age
41.1 years
Owner-occupied
75.5%
Median home value
$352,300
Median gross rent
$1,447/mo
Mean commute
23.1 min
75.5% of occupied homes in Inver Grove Heights are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $352,300 against Zillow's $374,728 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $1,447/mo, below Zillow's $1,809/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Inver Grove Heights?
11 schools tracked · 3,740 students
The largest public schools serving Inver Grove Heights, MN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
SIMLEY SENIOR HIGH
Grades 9-12 · 1,058 students
INVER GROVE HEIGHTS MIDDLE
Grades 6-8 · 792 students
HILLTOP ELEMENTARY
Grades PK-5 · 613 students
PINE BEND ELEMENTARY
Grades PK-5 · 527 students
SALEM HILLS ELEMENTARY
Grades PK-5 · 310 students
Discovery Charter Elementary School
Grades K-8 · 175 students
ATHENEUM ELEMENTARY
Grades 2-5 · 80 students
IGH EARLY CHILDHOOD PROGRAM
Grades PK · 70 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Inver Grove Heights, MN?
Ordered by distance from Inver Grove Heights, not by size. Compare Inver Grove Heights side by side with any of them.
Inver Grove Heights housing market FAQ
Is Inver Grove Heights a buyer's or seller's market?
Inver Grove Heights, MN is currently a seller's market. That read comes from 1.9 months of supply, homes going under contract in about 30 days, and sellers getting 99.7% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Inver Grove Heights?
The typical home in Inver Grove Heights, MN is worth $374,728 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $372,500, about $194 per square foot.
Is Inver Grove Heights cheaper than the rest of Minnesota?
Inver Grove Heights's median sale price of $372,500 is 0% higher than the Minnesota statewide median of $372,300, and 9% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Inver Grove Heights?
Homes in Inver Grove Heights, MN spent a median of 30 days on market before going under contract, versus 25 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Inver Grove Heights?
At the current 30-year fixed rate of 7.03%, 20% down on a $374,728 home is about $2,001 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $85,736 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $104,055.
Are home prices rising in Inver Grove Heights?
The typical home value in Inver Grove Heights, MN rose 0.7% over the last 12 months, from $371,995 to $374,728 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Inver Grove Heights?
Inver Grove Heights ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Inver Grove Heights?
That depends on your timeline, not on a headline. What the data says today: Inver Grove Heights, MN is a seller's market with 1.9 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 17.3x means buying and renting land close enough together that the decision turns on how long you stay and your down payment. Properties Incorporated publishes the data; it does not give financial advice.
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