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, while 30.2% have been under, suggesting a balanced market for both buyers and sellers.
In terms of inventory, there were 108 homes for sale and 49 new listings as of May 31, 2026. The median days to pending is 24, highlighting the competitive nature of the market.
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% year-over-year increase, indicating a steady demand for rental properties in the area.
New Developments on the Horizon
Looking ahead, Inver Grove Heights is set to welcome new affordable housing options. A development 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 an 80-unit senior affordable building. These developments aim to provide high-quality, affordable housing with amenities such as fitness centers, community rooms, and outdoor spaces.
For those considering buying, selling, or renting in Inver Grove Heights, staying informed about these trends and developments is crucial. The market’s steady growth and upcoming projects reflect the community’s commitment to providing diverse housing options for its residents.
