How much is a home worth in ZIP code 55038?

The typical home in 55038 is worth $457,127, based on the Zillow Home Value Index.

Are home values rising in 55038?

Home values in 55038 are up 1.3% over the past year, and up 3.1% a year over five years.

What is the typical rent in 55038?

A typical home in 55038 rents for about $2,232 a month, a gross rental yield of 5.9%.

What is the property tax rate in 55038?

The effective property tax rate in 55038 is 1.0% — roughly $4,539 a year on a typical home.

ZIP code 55038 has a population of 25,061 and a median household income of $130,931.

HousingHandbookReference data

…

U.S. ZIP Code · MN55038

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

Typical home value

$457,127^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.3%
5-year / yr: +3.1%
10-year / yr: +4.7%

Relative price

vs U.S.: +60.9%
vs metro: +19.7%
vs state: +53.5%

Price history

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

The typical home in 55038 is worth $457,127 — 19.7% above the Minneapolis-St. Paul-Bloomington, MN-WI median. Over the past year, values have risen 1.3%. Homes here rent for a typical $2,232 a month — a 5.9% gross rental yield. The effective property tax rate is 1.0%.

#Rent & investment

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

Monthly rent: $2,232^[2]
Gross yield: 5.9%^[2]
Cap rate: 3.5%^[2]

#Property tax

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

Effective tax rate: 1.0%^[3]
Typical annual tax: $4,539^[3]

#Climate risk

FEMA National Risk Index ratings for Washington 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: Relatively Low
Drought: Very Low
Heat wave: Relatively Moderate
Hurricane: Not Applicable
Tornado: Relatively High
Earthquake: Very Low
Winter weather: Relatively Moderate

#Who lives here

Population: 25,061^[3]
Median household income: $130,931^[3]

#Migration

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

Net migration: +470^[5]
Moved in: 9,462
Moved out: 8,992

Schools

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

Public schools: 5
Elementary: 3
Middle: 0
High: 2

CENTERVILLE ELEMENTARY
Elementary · Grades K–5 · CENTENNIAL PUBLIC SCHOOL DISTRICT
569 students
North Star Elementary
Elementary · Grades K–5 · WHITE BEAR LAKE SCHOOL DISTRICT
476 students
ONEKA ELEMENTARY SCHOOL
Elementary · Grades PK–5 · WHITE BEAR LAKE SCHOOL DISTRICT
423 students
WHITE BEAR TRANSITION PLUS PROGRAM
High · Grades 10–12 · WHITE BEAR LAKE SCHOOL DISTRICT
42 students
AWARE
High · Grades 6–12 · WHITE BEAR LAKE SCHOOL DISTRICT
0 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 yield5.9%

Net yield (after ~40% expenses)3.5%

Annual rent$26,778

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$2,311

Loan principal$365,702

Down payment$91,425

Total interest paid$466,432

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 ratio1.38

Monthly cost to own$3,070

Monthly rent$2,232

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: 37th percentile^[1]
Rental yield: 70th percentile^[2]
Property tax: 41st percentile^[3]

Frequently asked

How much is a home worth in ZIP code 55038?: The typical home in 55038 is worth $457,127, based on the Zillow Home Value Index.
Are home values rising in 55038?: Home values in 55038 are up 1.3% over the past year, and up 3.1% a year over five years.
What is the typical rent in 55038?: A typical home in 55038 rents for about $2,232 a month, a gross rental yield of 5.9%.
What is the property tax rate in 55038?: The effective property tax rate in 55038 is 1.0% — roughly $4,539 a year on a typical home.
Who lives in 55038?: ZIP code 55038 has a population of 25,061 and a median household income of $130,931.

#Comparable ZIPs

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

55322 vs 55038 →
Cologne, MN
Typical home
$455,122
Gross yield
—
55116 vs 55038 →
St. Paul, MN
Typical home
$459,769
Gross yield
4.3%
55341
Hanover, MN
Typical home
$453,910
Gross yield
—
55375
Minnetrista, MN
Typical home
$453,609
Gross yield
—
55387
Waconia, MN
Typical home
$461,540
Gross yield
4.5%
55449
Blaine, MN
Typical home
$462,536
Gross yield
6.1%

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Pit ZIP 55038 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · MN55038

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