Inver Grove Heights, a suburban community southeast of Saint Paul along the Mississippi River, 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, suggesting competitive bidding among buyers.
In terms of inventory, there were 108 homes for sale and 49 new listings as of May 31, 2026. The median sale to list ratio is 1.000, meaning homes are generally selling at their listed prices. These figures suggest a balanced market, offering opportunities for both buyers and sellers.
Rental Market Insights
The rental market in Inver Grove Heights has also experienced changes. The average rent is $1,799, which is below the national average of $1,951. This represents a 2.9% increase over the past year, indicating a steady demand for rental properties in the area.
New Housing Developments
Looking ahead, Inver Grove Heights is set to welcome new affordable housing options. A development located at 6050 Cahill Avenue will include two apartment buildings totaling 220 units. The first phase will feature a four-story, 140-unit workforce affordable building, while the second phase will consist of a four-story, 80-unit senior affordable building. These developments aim to provide high-quality, affordable housing to the community, with amenities such as fitness centers, community rooms, and outdoor spaces.
Conclusion
Inver Grove Heights continues to offer a dynamic housing market with opportunities for buyers, renters, and investors. Staying informed about market trends and upcoming developments can help individuals make strategic decisions in this evolving landscape.
