HPI (2025)FHFA
227
State Series · Midwest Region
Home Price History in Minnesota
FHFA all-transactions House Price Index for the state of Minnesota — annual data, 1975 through 2025, rebased to 100 in the year 2000.
YoY changeFHFA
+2.8%
5-yr changeFHFA
+37%
Since 2000FHFA
+127%
Minnesota's FHFA all-transactions House Price Index runs from 1975 through 2025. The state-level HPI, rebased to 100 in 2000, stood at 226.5 at the latest reading. Cumulative nominal appreciation since 2000: +126.5%.
The 2007–2011 housing crisis cut the Minnesota HPI by 22.1% peak-to-trough — from 149.3 in 2006 to 116.2 in 2012. The U.S. national HPI fell roughly 21% over the same window, so Minnesota's drawdown was more severe than the national average.
The pandemic-era surge brought Minnesota's HPI from 161.3 in 2019 to 226.5 in 2025 — a +40.5% cumulative gain in 6 years, running near the national pace.
Minnesota sits in the Midwest census region of the United States. Long-run state-level home-price appreciation reflects regional employment patterns, in-migration flows, and supply constraints. State-level FHFA series can mask significant intra-state divergence — see the linked metro pages below for sub-state breakdowns where available.
Metros in Minnesota covered by The Housing Almanac:
- Minneapolis–St. Paul (national rank #16)
For the U.S. national context, see the national median price history or browse all 50 states.
Annual data — Minnesota
FHFA House Price Index, 2000=100. Annual data; not seasonally adjusted. Source: U.S. Federal Housing Finance Agency.
| Year | HPI (2000=100) | YoY change |
|---|---|---|
| 2025 | 226.54 | +2.80% |
| 2024 | 220.37 | +3.69% |
| 2023 | 212.52 | +4.34% |
| 2022 | 203.68 | +12.11% |
| 2021 | 181.68 | +9.68% |
| 2020 | 165.65 | +2.72% |
| 2019 | 161.27 | +4.16% |
| 2018 | 154.83 | +5.74% |
| 2017 | 146.43 | +5.86% |
| 2016 | 138.32 | +4.66% |
| 2015 | 132.16 | +3.39% |
| 2014 | 127.83 | +5.72% |
| 2013 | 120.91 | +4.01% |
| 2012 | 116.25 | -1.43% |
| 2011 | 117.94 | -5.41% |
| 2010 | 124.69 | -6.09% |
| 2009 | 132.77 | -6.21% |
| 2008 | 141.56 | -4.42% |
| 2007 | 148.10 | -0.79% |
| 2006 | 149.28 | +2.80% |
| 2005 | 145.22 | +8.29% |
| 2004 | 134.10 | +8.79% |
| 2003 | 123.27 | +4.65% |
| 2002 | 117.79 | +7.86% |
| 2001 | 109.21 | +9.21% |
| 2000 | 100.00 | +12.28% |
| 1999 | 89.06 | +7.29% |
| 1998 | 83.01 | +4.68% |
| 1997 | 79.30 | +4.98% |
| 1996 | 75.54 | +4.22% |
| 1995 | 72.48 | +5.98% |
| 1994 | 68.39 | +3.31% |
| 1993 | 66.20 | +2.91% |
| 1992 | 64.33 | +2.08% |
| 1991 | 63.02 | +2.47% |
| 1990 | 61.50 | +1.35% |
| 1989 | 60.68 | +3.34% |
| 1988 | 58.72 | +3.91% |
| 1987 | 56.51 | +4.98% |
| 1986 | 53.83 | +3.54% |
| 1985 | 51.99 | +1.64% |
| 1984 | 51.15 | +2.73% |
| 1983 | 49.79 | +21.44% |
| 1982 | 41.00 | -12.02% |
| 1981 | 46.60 | +1.26% |
| 1980 | 46.02 | +9.65% |
| 1979 | 41.97 | +15.24% |
| 1978 | 36.42 | +17.79% |
| 1977 | 30.92 | +11.95% |
| 1976 | 27.62 | +10.22% |
| 1975 | 25.06 | — |
Methodology
The FHFA House Price Index is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same single-family properties. The all-transactions index incorporates both purchase mortgages and refinance appraisals; the index is calibrated to the Midwest census region and rebased to 100 in the year 2000.