Inver Grove Heights, Minnesota, continues to be a dynamic and competitive housing market. As of May 2026, the average home value in the area is $378,428, reflecting a 2.2% increase over the past year. Homes typically go pending in around 24 days, indicating a brisk market pace. The median sale price stands at $340,317, with a median list price of $381,400. Notably, 37% of sales have been over the list price, underscoring the strong demand in the area.
For those considering renting, the average rent in Inver Grove Heights is $1,799 per month, which is below the national average of $1,951. This represents a 2.9% increase over the past year, suggesting a steady rise in rental costs.
In terms of new developments, a significant project is underway at 6050 Cahill Avenue. This development will feature two affordable apartment buildings totaling 220 units, constructed in two phases. The first phase includes a four-story, 140-unit workforce affordable building, while the second phase comprises a four-story, 80-unit senior affordable building. Amenities will include a fitness center, community room, and outdoor spaces, aiming to provide high-quality affordable housing options for the community.
Overall, Inver Grove Heights offers a robust housing market with opportunities for both buyers and renters. Staying informed about market trends and upcoming developments can assist residents and potential newcomers in making well-informed housing decisions.
