Inver Grove Heights, a suburban community southeast of Saint Paul, offers a diverse housing market that appeals to a wide range of buyers. The area features a mix of single-family homes, townhomes, and apartments, catering to various preferences and budgets.
Current Market Trends
As of May 2026, the median home value in Inver Grove Heights stands at $378,428, reflecting a 2.2% increase over the past year. Homes typically go pending in around 24 days, indicating a competitive market. The median sale price is $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.
For renters, the average rent is $1,799 per month, slightly below the national average of $1,951. This represents a 2.9% year-over-year increase, with a month-over-month change of 1.4%.
New Developments
Inver Grove Heights is experiencing significant development activity. A notable project at 6050 Cahill Avenue includes two affordable apartment buildings totaling 220 units. The first phase comprises a four-story, 140-unit workforce affordable building, while the second phase features a four-story, 80-unit senior affordable building. These developments aim to provide high-quality, affordable housing options for the community.
Additionally, 28 development projects are currently moving through the city’s planning and zoning pipeline in 2026. These include six commercial projects and six mixed-use developments, indicating a robust growth trajectory for the area.
Conclusion
Inver Grove Heights presents a dynamic housing market with steady appreciation and ongoing development. Whether you’re considering buying, renting, or investing, staying informed about these trends and upcoming projects can help you make well-informed decisions in this evolving market.
