How much is a home worth in ZIP code 55118?

The typical home in 55118 is worth $369,405, based on the Zillow Home Value Index.

Are home values rising in 55118?

Home values in 55118 are up 3.4% over the past year, and up 2.9% a year over five years.

What is the typical rent in 55118?

A typical home in 55118 rents for about $1,486 a month, a gross rental yield of 4.8%.

What is the property tax rate in 55118?

The effective property tax rate in 55118 is 0.9% — roughly $3,452 a year on a typical home.

ZIP code 55118 has a population of 29,564 and a median household income of $87,340.

HousingHandbookReference data

…

U.S. ZIP Code · MN55118

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

Typical home value

$369,405^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.4%
5-year / yr: +2.9%
10-year / yr: +4.7%

Relative price

vs U.S.: +30.0%
vs metro: -3.3%
vs state: +24.1%

Price history

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

The typical home in 55118 is worth $369,405 — 3.3% below the Minneapolis-St. Paul-Bloomington, MN-WI median. Over the past year, values have risen 3.4%. Homes here rent for a typical $1,486 a month — a 4.8% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

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

Monthly rent: $1,486^[2]
Gross yield: 4.8%^[2]
Cap rate: 2.9%^[2]

#Property tax

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

Effective tax rate: 0.9%^[3]
Typical annual tax: $3,452^[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: 29,564^[3]
Median household income: $87,340^[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: 14
Elementary: 4
Middle: 1
High: 7

Two Rivers High School
High · Grades 9–12 · West St. Paul-Mendota Heights-Eagan
1,648 students
HERITAGE E-STEM MAGNET SCHOOL
Middle · Grades 5–8 · West St. Paul-Mendota Heights-Eagan
760 students
SOMERSET ELEMENTARY
Elementary · Grades PK–4 · West St. Paul-Mendota Heights-Eagan
402 students
GARLOUGH ENVIRONMENTAL MAGNET
Elementary · Grades K–4 · West St. Paul-Mendota Heights-Eagan
394 students
MORELAND ART/HEALTH SCIENCE MAGNET
Elementary · Grades PK–4 · West St. Paul-Mendota Heights-Eagan
385 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 yield4.8%

Net yield (after ~40% expenses)2.9%

Annual rent$17,832

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$1,868

Loan principal$295,524

Down payment$73,881

Total interest paid$376,924

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 ratio1.66

Monthly cost to own$2,462

Monthly rent$1,486

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: 28th percentile^[1]
Rental yield: 29th percentile^[2]
Property tax: 27th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 55118?: The typical home in 55118 is worth $369,405, based on the Zillow Home Value Index.
Are home values rising in 55118?: Home values in 55118 are up 3.4% over the past year, and up 2.9% a year over five years.
What is the typical rent in 55118?: A typical home in 55118 rents for about $1,486 a month, a gross rental yield of 4.8%.
What is the property tax rate in 55118?: The effective property tax rate in 55118 is 0.9% — roughly $3,452 a year on a typical home.
Who lives in 55118?: ZIP code 55118 has a population of 29,564 and a median household income of $87,340.

#Comparable ZIPs

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

55371 vs 55118 →
Princeton, MN
Typical home
$370,301
Gross yield
—
55427 vs 55118 →
Golden Valley, MN
Typical home
$371,374
Gross yield
5.1%
55017
MN
Typical home
$367,232
Gross yield
—
55309
Big Lake, MN
Typical home
$373,322
Gross yield
5.7%
55074
Shafer, MN
Typical home
$364,795
Gross yield
—
55308
Becker, MN
Typical home
$375,015
Gross yield
—

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#Jump to section

U.S. ZIP Code · MN55118

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