Inver Grove Heights, a suburban community southeast of Saint Paul, offers a diverse housing market that appeals to a wide range of buyers and renters. Understanding the current trends and upcoming developments can help residents and potential homeowners make informed decisions.
Current Housing Market Trends
As of May 2026, the housing market in Inver Grove Heights has shown steady growth. The average home value is $378,428, reflecting a 2.2% increase over the past year. Homes typically go pending in around 24 days, indicating a relatively brisk market. 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, while 30.2% have been under, suggesting a balanced market dynamic.
In terms of inventory, there were 108 homes for sale as of May 31, 2026, with 49 new listings added that month. The median days to pending is 24, highlighting the demand in the area. For renters, the average rent is $1,799, which is below the national average of $1,951. This represents a 2.9% year-over-year increase, indicating a steady rise in rental prices.
New Developments
Inver Grove Heights is experiencing significant development activity, with 28 projects in the planning and zoning pipeline as of July 2026. These include six commercial projects and six mixed-use developments, reflecting the city’s growth and diversification.
One notable project is the new affordable senior and workforce housing development located at 6050 Cahill Avenue. This project comprises two affordable apartment buildings totaling 220 units, built in two phases. The first phase includes a four-story, 140-unit workforce affordable building, while the second phase features a four-story, 80-unit senior affordable building. Amenities will include a fitness center, community room, outdoor gardening spaces, and walking trails, enhancing the quality of life for residents.
Conclusion
The housing market in Inver Grove Heights is characterized by steady growth and active development, offering opportunities for both buyers and renters. With a range of housing options and new projects underway, the community continues to evolve, catering to the diverse needs of its residents.
