Inver Grove Heights, Minnesota, continues to be a dynamic and evolving housing market, offering opportunities for both buyers and renters. Understanding the current trends and upcoming developments can help residents 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 stands at $378,428, reflecting a 2.2% increase over the past year. Homes are typically going pending in around 24 days, indicating a relatively brisk 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 for buyers and sellers alike.
In terms of inventory, there are currently 108 homes for sale, with 49 new listings as of May 31, 2026. This level of inventory provides a range of options for prospective buyers.
Rental Market Insights
The rental market in Inver Grove Heights also presents notable trends. 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, with a month-over-month change of 1.4%. These figures suggest a stable rental market with gradual growth.
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.
These new developments are expected to enhance the housing landscape in Inver Grove Heights, offering more options for residents seeking affordable living arrangements.
In summary, Inver Grove Heights continues to experience steady growth in its housing market, with rising home values and a stable rental market. The introduction of new affordable housing developments further enriches the community’s offerings, making it an attractive place for both current and prospective residents.
