How much is a home worth in ZIP code 55123?

The typical home in 55123 is worth $474,542, based on the Zillow Home Value Index.

Are home values rising in 55123?

Home values in 55123 are up 0.5% over the past year, and up 2.9% a year over five years.

What is the typical rent in 55123?

A typical home in 55123 rents for about $1,678 a month, a gross rental yield of 4.2%.

What is the property tax rate in 55123?

The effective property tax rate in 55123 is 1.0% — roughly $4,541 a year on a typical home.

ZIP code 55123 has a population of 26,501 and a median household income of $139,215.

HousingHandbookReference data

…

U.S. ZIP Code · MN55123

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

Typical home value

$474,542^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +0.5%
5-year / yr: +2.9%
10-year / yr: +4.2%

Relative price

vs U.S.: +67.1%
vs metro: +24.2%
vs state: +59.4%

Price history

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

The typical home in 55123 is worth $474,542 — 24.2% above the Minneapolis-St. Paul-Bloomington, MN-WI median. Over the past year, values have risen 0.5%. Homes here rent for a typical $1,678 a month — a 4.2% 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: $1,678^[2]
Gross yield: 4.2%^[2]
Cap rate: 2.5%^[2]

#Property tax

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

Effective tax rate: 1.0%^[3]
Typical annual tax: $4,541^[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: 26,501^[3]
Median household income: $139,215^[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: 7
Elementary: 5
Middle: 1
High: 1

EAGAN SENIOR HIGH
High · Grades 9–12 · ROSEMOUNT-APPLE VALLEY-EAGAN
2,202 students
DAKOTA HILLS MIDDLE
Middle · Grades 6–8 · ROSEMOUNT-APPLE VALLEY-EAGAN
1,181 students
RED PINE ELEMENTARY
Elementary · Grades K–5 · ROSEMOUNT-APPLE VALLEY-EAGAN
725 students
WOODLAND ELEMENTARY
Elementary · Grades K–5 · ROSEMOUNT-APPLE VALLEY-EAGAN
720 students
GLACIER HILLS SCHOOL - ARTS/SCIENCE
Elementary · Grades K–5 · ROSEMOUNT-APPLE VALLEY-EAGAN
681 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 yield4.2%

Net yield (after ~40% expenses)2.5%

Annual rent$20,135

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$2,400

Loan principal$379,634

Down payment$94,908

Total interest paid$484,202

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 ratio1.89

Monthly cost to own$3,175

Monthly rent$1,678

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: 25th percentile^[1]
Rental yield: 13th percentile^[2]
Property tax: 32nd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 55123?: The typical home in 55123 is worth $474,542, based on the Zillow Home Value Index.
Are home values rising in 55123?: Home values in 55123 are up 0.5% over the past year, and up 2.9% a year over five years.
What is the typical rent in 55123?: A typical home in 55123 rents for about $1,678 a month, a gross rental yield of 4.2%.
What is the property tax rate in 55123?: The effective property tax rate in 55123 is 1.0% — roughly $4,541 a year on a typical home.
Who lives in 55123?: ZIP code 55123 has a population of 26,501 and a median household income of $139,215.

#Comparable ZIPs

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

55442 vs 55123 →
Plymouth, MN
Typical home
$475,655
Gross yield
5.1%
55105 vs 55123 →
St. Paul, MN
Typical home
$476,313
Gross yield
3.7%
55374
Rogers, MN
Typical home
$477,852
Gross yield
5.1%
55127
North Oaks, MN
Typical home
$469,189
Gross yield
4.4%
55405
Minneapolis, MN
Typical home
$467,083
Gross yield
3.6%
55305
Minnetonka, MN
Typical home
$466,692
Gross yield
5.0%

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#Jump to section

U.S. ZIP Code · MN55123

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