The 10 Best Places To Buy A House In Minnesota For 2022


Using science and data, we can tell you which places in Minnesota have seen home prices rising and people flocking over the past year.

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Editor’s note: This is not investment advice and we are not financial advisers. Article updated for 2022.

There's a the age old question everyone thinks about when they decide to move to a city in Minnesota:

Should I buy a place or rent? Well, we aren't here today to solve that problem for you exactly. We are just assuming you'll do the right thing and a buy a place. And while we are happy to tell you the best place to live in Minnesota, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the North Star State.

To do that we are going to look at places in Minnesota that are growing faster than average, but where home prices are below average. In every day terms, the "deals". The best deal in Minnesota at the moment? That would be Lake City according to our analysis.

Here's a look at the top ten places to buy a home in Minnesota for 2022.

The 10 Best Places To Buy A Home In Minnesota For 2022

  1. Lake City
  2. Montevideo
  3. La Crescent
  4. Chisago City
  5. North Oaks
  6. Morris
  7. St. Paul Park
  8. Carver
  9. Glencoe
  10. Byron

What's the best place to buy a home in Minnesota for 2022? According to our analysis, would the the ideal place to buy a home looking into the future.

The methodology that wen't into this can be a bit complicated, so we'll break it down for you in as much detail as we can below. If you're not worried about finding a deal on good places to live, check out the most expensive places to live in Minnesota and, for those of you on a budget, the cheapest places to live in Minnesota.

For more Minnesota reading, check out:

The 10 Best Cities To Buy A House In Minnesota For 2022

Lake City, MN

Overall SnackAbility

6
/10

Population: 5,050
Median Home Price: $178,900
Population Change: -4.0%
Home Price Change: 5.5%
More on Lake City: PhotosHomes For Sale | Data

Montevideo, MN

Overall SnackAbility

7
/10

Population: 5,071
Median Home Price: $100,600
Population Change: -0.7%
Home Price Change: 14.7%
More on Montevideo: PhotosHomes For Sale | Data

La Crescent, MN

Overall SnackAbility

9.5
/10

Population: 5,135
Median Home Price: $190,000
Population Change: -0.1%
Home Price Change: 3.2%
More on La Crescent: PhotosHomes For Sale | Data

Source: Public Domain
Overall SnackAbility

5
/10

Population: 5,159
Median Home Price: $270,600
Population Change: 1.4%
Home Price Change: 3.5%
More on Chisago City: Homes For Sale | Data

North Oaks, MN

Overall SnackAbility

7
/10

Population: 5,244
Median Home Price: $672,600
Population Change: 1.3%
Home Price Change: 6.2%
More on North Oaks: PhotosHomes For Sale | Data

Morris, MN

Overall SnackAbility

7
/10

Population: 5,320
Median Home Price: $167,200
Population Change: -0.3%
Home Price Change: -0.5%
More on Morris: PhotosHomes For Sale | Data

Overall SnackAbility

8.5
/10

Population: 5,404
Median Home Price: $204,800
Population Change: 0.9%
Home Price Change: 6.8%
More on St. Paul Park: Homes For Sale | Data

Carver, MN

Overall SnackAbility

6
/10

Population: 5,438
Median Home Price: $326,400
Population Change: 14.0%
Home Price Change: -3.3%
More on Carver: PhotosHomes For Sale | Data

Glencoe, MN

Overall SnackAbility

5
/10

Population: 5,488
Median Home Price: $163,600
Population Change: -0.1%
Home Price Change: 11.1%
More on Glencoe: PhotosHomes For Sale | Data

Byron, MN

Overall SnackAbility

7
/10

Population: 5,536
Median Home Price: $235,900
Population Change: 1.4%
Home Price Change: 8.0%
More on Byron: PhotosHomes For Sale | Data

Methodology: How do you determine the best places to buy a home in Minnesota for 2022?

We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we've put a lot of thought into what goes into finding a good place to buy a home.

So all that thinking has come to this moment where we get to spell out how we'd approach finding an up-and-coming place to live in Minnesota. Put differently, the analysis will try to find places in Minnesota with undervalued homes relative to pent up demand.

To do that we looked at the most recent American Community Survey Census data for 2016-2020 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:

  • Y-o-Y Change In Population (People want to live here)
  • Y-o-Y Change In Median Home Prices (People are willing to pay for it)
  • Home Prices Relative To The State Average (It's still kinda cheap)

We want places that are growing, have seen home prices increase in recent years, and are still "cheap" for Minnesota with the following caveats:

So of the 0 cities and towns in Minnesota, only 147 places made it through our initial filters to even be considered.

We then ranked each place from 1 to 147 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a "best place to buy" index with the place having the lowest index being the best. You can download the data here.

Turns out that Lake City is the best potential gem in the not-so-rough in the North Star State.

Read on for more on these places.

Summary: The Best Places To Purchase A House In Minnesota for 2022

There's our analysis of the best places to buy a house in Minnesota. And, to be clear, we aren't necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.

In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.

So if we'd could rent or buy in these cities, we'd definitely buy.

For more Minnesota reading, check out:

Home Prices By City In Minnesota

City Rank Median Home Price Population Change Home Price Increase
Lake City 1 $178,900 -4.0% 5.5%
Montevideo 2 $100,600 -0.7% 14.7%
La Crescent 3 $190,000 -0.1% 3.2%
Chisago City 4 $270,600 1.4% 3.5%
North Oaks 5 $672,600 1.3% 6.2%
Morris 6 $167,200 -0.3% -0.5%
St. Paul Park 7 $204,800 0.9% 6.8%
Carver 8 $326,400 14.0% -3.3%
Glencoe 9 $163,600 -0.1% 11.1%
Byron 10 $235,900 1.4% 8.0%
Falcon Heights 11 $300,700 0.3% 2.5%
Zimmerman 12 $192,100 3.1% 2.5%
International Falls 13 $105,700 -1.8% 19.8%
Isanti 14 $190,700 4.6% 8.4%
Corcoran 15 $376,700 3.4% 12.3%
Stewartville 16 $190,100 0.0% 6.4%
Delano 17 $266,900 1.3% 3.2%
Dayton 18 $357,000 7.6% 13.9%
Jordan 19 $245,100 0.9% 3.9%
Kasson 20 $192,800 1.2% 6.9%
Medina 21 $547,900 2.6% -9.6%
Spring Lake Park 22 $199,300 0.7% 4.7%
Litchfield 23 $151,500 0.1% 11.2%
Belle Plaine 24 $233,200 0.6% 7.3%
St. Joseph 25 $172,200 5.9% 1.2%
Albertville 26 $240,800 0.6% -3.8%
Crookston 27 $135,600 -0.6% 4.1%
Waite Park 28 $160,700 0.4% 5.9%
St. Francis 29 $232,200 1.8% 8.3%
Shorewood 30 $520,500 0.9% 7.3%
Wyoming 31 $247,200 0.8% 1.9%
Minnetrista 32 $509,200 4.8% 6.6%
New Prague 33 $264,400 1.6% 7.0%
Orono 34 $763,700 1.3% 12.3%
Mahtomedi 35 $353,000 0.8% 4.3%
Baxter 36 $213,200 1.5% 2.3%
Virginia 37 $90,800 -0.7% -1.5%
East Grand Forks 38 $205,800 -0.6% 4.7%
Little Falls 39 $143,500 -0.0% 11.8%
Thief River Falls 40 $143,900 0.0% 6.0%
Oak Grove 41 $309,700 1.6% 8.4%
Waseca 42 $130,500 -1.1% 2.5%
Cambridge 43 $167,200 2.3% 6.0%
St. Anthony 44 $281,600 -0.0% 4.6%
Lake Elmo 45 $433,500 1.1% 1.6%
Detroit Lakes 46 $188,500 0.3% -1.1%
Mound 47 $255,200 0.2% -2.3%
Hermantown 48 $277,300 -0.3% 16.1%
Victoria 49 $460,200 4.3% 7.7%
Fairmont 50 $137,300 -0.8% 11.0%
Arden Hills 51 $296,500 -0.2% 1.2%
Little Canada 52 $245,200 -0.3% 1.1%
North Branch 53 $212,400 1.3% 11.0%
Big Lake 54 $209,900 2.1% 8.8%
Grand Rapids 55 $153,200 0.5% 1.3%
Mendota Heights 56 $402,600 0.4% 2.5%
St. Peter 57 $178,000 0.7% 4.6%
East Bethel 58 $261,900 0.7% 4.3%
Cloquet 59 $151,600 -0.1% 6.2%
Waconia 60 $321,500 1.2% 5.9%
North St. Paul 61 $219,800 0.1% 6.6%
Worthington 62 $129,900 -0.1% -2.0%
Rogers 63 $357,900 1.6% 8.1%
Mounds View 64 $221,600 0.8% 7.2%
New Ulm 65 $145,600 -0.2% 3.0%
Brainerd 66 $127,700 0.4% 8.3%
Vadnais Heights 67 $243,300 0.9% 0.3%
Marshall 68 $156,000 -0.3% 1.2%
Monticello 69 $215,600 0.9% 7.9%
Alexandria 70 $185,000 1.1% 4.5%
Fergus Falls 71 $142,700 0.3% 7.9%
North Mankato 72 $207,600 0.9% 7.3%
Sauk Rapids 73 $181,700 1.6% 6.9%
Hutchinson 74 $157,200 0.2% 5.4%
Robbinsdale 75 $213,100 -0.5% 6.0%
Hugo 76 $262,300 1.6% 1.2%
Bemidji 77 $141,300 1.0% 1.0%
Hibbing 78 $111,900 -0.6% 1.9%
Red Wing 79 $179,200 0.2% 3.0%
Buffalo 80 $206,800 1.3% 1.5%
Ham Lake 81 $325,400 1.2% 6.1%
Otsego 82 $282,500 4.0% 8.0%
Anoka 83 $215,900 0.2% 6.3%
Albert Lea 84 $102,700 0.2% 5.8%
St. Michael 85 $287,700 1.6% 6.3%
Hopkins 86 $251,700 0.1% 10.6%
Sartell 87 $211,100 2.4% 4.8%
Stillwater 88 $302,500 0.7% 3.8%
Willmar 89 $140,800 0.1% 5.9%
West St. Paul 90 $215,500 0.1% 8.1%
South St. Paul 91 $207,200 -0.3% 7.9%
Columbia Heights 92 $193,700 0.6% 9.2%
Forest Lake 93 $286,500 1.9% 5.3%
Northfield 94 $240,500 0.3% 6.4%
New Hope 95 $235,600 -0.1% 4.7%
Golden Valley 96 $329,400 0.2% 8.1%
Lino Lakes 97 $299,000 1.6% 2.0%
New Brighton 98 $267,800 0.5% 4.4%
Hastings 99 $229,900 0.3% 7.0%
Crystal 100 $211,800 -0.2% 7.3%

How Is The Area In ?

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.