How much is a home worth in ZIP code 55387?

The typical home in 55387 is worth $461,540, based on the Zillow Home Value Index.

Are home values rising in 55387?

Home values in 55387 are up 0.6% over the past year, and up 3.3% a year over five years.

What is the typical rent in 55387?

A typical home in 55387 rents for about $1,730 a month, a gross rental yield of 4.5%.

What is the property tax rate in 55387?

The effective property tax rate in 55387 is 1.0% — roughly $4,553 a year on a typical home.

ZIP code 55387 has a population of 15,030 and a median household income of $114,511.

HousingHandbookReference data

…

U.S. ZIP Code · MN55387

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

Typical home value

$461,540^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +0.6%
5-year / yr: +3.3%
10-year / yr: +4.6%

Relative price

vs U.S.: +62.5%
vs metro: +20.8%
vs state: +55.0%

Price history

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

The typical home in 55387 is worth $461,540 — 20.8% above the Minneapolis-St. Paul-Bloomington, MN-WI median. Over the past year, values have risen 0.6%. Homes here rent for a typical $1,730 a month — a 4.5% 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: $1,730^[2]
Gross yield: 4.5%^[2]
Cap rate: 2.7%^[2]

#Property tax

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

Effective tax rate: 1.0%^[3]
Typical annual tax: $4,553^[3]

#Climate risk

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

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

#Who lives here

Population: 15,030^[3]
Median household income: $114,511^[3]

#Migration

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

Net migration: +77^[5]
Moved in: 3,551
Moved out: 3,474

Schools

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

Public schools: 9
Elementary: 3
Middle: 1
High: 4

Waconia High School
High · Grades 9–12 · WACONIA PUBLIC SCHOOL DISTRICT
1,342 students
Waconia Middle School
Middle · Grades 6–8 · WACONIA PUBLIC SCHOOL DISTRICT
953 students
SOUTHVIEW ELEMENTARY
Elementary · Grades K–5 · WACONIA PUBLIC SCHOOL DISTRICT
538 students
BAYVIEW ELEMENTARY
Elementary · Grades K–5 · WACONIA PUBLIC SCHOOL DISTRICT
535 students
Laketown Elementary
Elementary · Grades K–5 · WACONIA PUBLIC SCHOOL DISTRICT
523 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 yield4.5%

Net yield (after ~40% expenses)2.7%

Annual rent$20,755

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$2,334

Loan principal$369,232

Down payment$92,308

Total interest paid$470,935

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 ratio1.79

Monthly cost to own$3,099

Monthly rent$1,730

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: 45th percentile^[1]
Rental yield: 19th percentile^[2]
Property tax: 40th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 55387?: The typical home in 55387 is worth $461,540, based on the Zillow Home Value Index.
Are home values rising in 55387?: Home values in 55387 are up 0.6% over the past year, and up 3.3% a year over five years.
What is the typical rent in 55387?: A typical home in 55387 rents for about $1,730 a month, a gross rental yield of 4.5%.
What is the property tax rate in 55387?: The effective property tax rate in 55387 is 1.0% — roughly $4,553 a year on a typical home.
Who lives in 55387?: ZIP code 55387 has a population of 15,030 and a median household income of $114,511.

#Comparable ZIPs

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

55449 vs 55387 →
Blaine, MN
Typical home
$462,536
Gross yield
6.1%
55304 vs 55387 →
Ham Lake, MN
Typical home
$462,610
Gross yield
6.9%
55441
Plymouth, MN
Typical home
$463,286
Gross yield
4.4%
55116
St. Paul, MN
Typical home
$459,769
Gross yield
4.3%
55065
Randolph, MN
Typical home
$463,651
Gross yield
—
55031
Hampton, MN
Typical home
$463,774
Gross yield
—

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#Jump to section

U.S. ZIP Code · MN55387

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