How much is a home worth in ZIP code 55024?

The typical home in 55024 is worth $403,329, based on the Zillow Home Value Index.

Are home values rising in 55024?

Home values in 55024 are up 1.4% over the past year, and up 3.0% a year over five years.

What is the typical rent in 55024?

A typical home in 55024 rents for about $2,133 a month, a gross rental yield of 6.3%.

What is the property tax rate in 55024?

The effective property tax rate in 55024 is 1.1% — roughly $4,251 a year on a typical home.

ZIP code 55024 has a population of 37,287 and a median household income of $127,280.

HousingHandbookReference data

…

U.S. ZIP Code · MN55024

Dakota County · Minneapolis-St. Paul-Bloomington, MN-WI

Typical home value

$403,329^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.4%
5-year / yr: +3.0%
10-year / yr: +4.8%

Relative price

vs U.S.: +42.0%
vs metro: +5.6%
vs state: +35.5%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 55024 is worth $403,329 — 5.6% above the Minneapolis-St. Paul-Bloomington, MN-WI median. Over the past year, values have risen 1.4%. Homes here rent for a typical $2,133 a month — a 6.3% gross rental yield. The effective property tax rate is 1.1%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,133^[2]
Gross yield: 6.3%^[2]
Cap rate: 3.8%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.1%^[3]
Typical annual tax: $4,251^[3]

#Climate risk

FEMA National Risk Index ratings for Dakota County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: Relatively Low
Heat wave: Relatively Moderate
Hurricane: Not Applicable
Tornado: Relatively High
Earthquake: Very Low
Winter weather: Relatively High

#Who lives here

Population: 37,287^[3]
Median household income: $127,280^[3]

#Migration

Household moves in and out of Dakota County over a year, from IRS tax-return data.

Net migration: +672^[5]
Moved in: 14,493
Moved out: 13,821

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 13
Elementary: 7
Middle: 3
High: 3

FARMINGTON HIGH SCHOOL
High · Grades 9–12 · FARMINGTON PUBLIC SCHOOL DISTRICT
2,196 students
ROBERT BOECKMAN MIDDLE SCHOOL
Middle · Grades 6–8 · FARMINGTON PUBLIC SCHOOL DISTRICT
867 students
LEVI P. DODGE MIDDLE SCHOOL
Middle · Grades 6–8 · FARMINGTON PUBLIC SCHOOL DISTRICT
687 students
MEADOWVIEW ELEMENTARY
Elementary · Grades PK–5 · FARMINGTON PUBLIC SCHOOL DISTRICT
621 students
NORTH TRAIL ELEMENTARY
Elementary · Grades PK–5 · FARMINGTON PUBLIC SCHOOL DISTRICT
609 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield6.3%

Net yield (after ~40% expenses)3.8%

Annual rent$25,594

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,039

Loan principal$322,664

Down payment$80,666

Total interest paid$411,540

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.28

Monthly cost to own$2,728

Monthly rent$2,133

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 31st percentile^[1]
Rental yield: 80th percentile^[2]
Property tax: 62nd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 55024?: The typical home in 55024 is worth $403,329, based on the Zillow Home Value Index.
Are home values rising in 55024?: Home values in 55024 are up 1.4% over the past year, and up 3.0% a year over five years.
What is the typical rent in 55024?: A typical home in 55024 rents for about $2,133 a month, a gross rental yield of 6.3%.
What is the property tax rate in 55024?: The effective property tax rate in 55024 is 1.1% — roughly $4,251 a year on a typical home.
Who lives in 55024?: ZIP code 55024 has a population of 37,287 and a median household income of $127,280.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

54021 vs 55024 →
Prescott, WI
Typical home
$402,955
Gross yield
—
55043 vs 55024 →
Lakeland, MN
Typical home
$402,431
Gross yield
—
54003
WI
Typical home
$402,065
Gross yield
—
55012
Center City, MN
Typical home
$404,750
Gross yield
—
55302
Annandale, MN
Typical home
$405,313
Gross yield
—
55016
Cottage Grove, MN
Typical home
$400,394
Gross yield
5.8%

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#Jump to section

U.S. ZIP Code · MN55024

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