Photo: Widgetkid · CC BY-SA 4.0Even on the area’s higher pay, Edina costs more to live in than 92% of U.S. towns
It ranks #268 of 273 in Minnesota for affordability. Up 4.3% in a year, 79% above the Minnesota typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Minneapolis-St. Paul-Bloomington, MN-WI metro area ($100K). How TownRatings grades cost of living
The grade measures what housing costs against what households in the area earn. Edina’s area earns well above the typical U.S. town ($100K against $74K), but homes, rent and taxes here run higher still. Owners keep up better than renters: 21% of owners pay 30% or more of income for housing (typical U.S. town: 20%), against 49% of renters.
In dollars
- $625Ktypical home, 79% above the Minnesota typical homeZillow, September 2026
- $2,070a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 105prices across the Minneapolis metro, where the U.S. is 100 (housing 112)BEA Regional Price Parities, 2024
In paychecks the grade
- 6.5 yrsof area income buys the typical home; the typical U.S. town: 3.3$100K, Minneapolis-area income
- 22%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 49%of renters pay 30%+ of income for housing; across Minnesota: 48%Census 2020–24
- 21%of owners do; the typical U.S. town: 20%Census 2020–24
Housing in Edina, in brief
The priciest town in its area
Edina tops the seven neighboring towns with a Zillow value. The next most expensive is Eden Prairie at $500K; the least, Minneapolis at $328K. Vs. neighbors ↓
A burst of building in 2022
Edina permitted 870 new homes in 2022, 93% of them in buildings with two or more homes, against about 253 in a typical year of the past decade. 2025 came in at 210. New homes ↓
Most new homes are apartments and condos
Of the 3,149 homes permitted in Edina’s past 10 years, 77% were in buildings with two or more homes, not single-family houses. New homes ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; sales and supply are Redfin’s for May 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Edina’s grade
Measured against what households in the area earn, Edina is more affordable than 8% of U.S. towns, #268 of 273 in Minnesota. Property tax pulls the grade down most; the share of households paying 30%+ for housing holds it up.
Prices here have kept pace with Minnesota: up 18.7% in five years, against 14.1% statewide (Zillow).
Up 18.7% in five years
Faster than Minnesota (14.1%).
Show as a table
| January | Edina | Minnesota |
|---|---|---|
| 2017 | $411,000 | $216,000 |
| 2018 | $437,000 | $231,000 |
| 2019 | $463,000 | $245,000 |
| 2020 | $464,000 | $257,000 |
| 2021 | $485,000 | $280,000 |
| 2022 | $530,000 | $311,000 |
| 2023 | $555,000 | $322,000 |
| 2024 | $573,000 | $329,000 |
| 2025 | $592,000 | $338,000 |
| 2026 | $609,000 | $346,000 |
| September 2026 | $625,000 | $349,000 |
A typical Edina home worth $405K in October 2016 is worth about $625K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A seller's market
Supply is tight — about 2.1 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Under ~4 months of supply favors sellers; over ~6 favors buyers.
Redfin Data Center, all residential sales, May 2026.
A typical home costs 6.5 years of area income
The calculator starts from the area income the grade uses. Switch to Edina’s own median, or type yours.
That’s $245K short of a typical Edina home.
A two-bedroom rents for about $2,070 a month here, $1,760 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Edina’s typical property tax (1.08% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $2,070
Renters already here pay a median of $1,844, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
210 new homes permitted in 2025
Builders were permitted 210 new homes in Edina in 2025: 60 single-family houses and 150 in buildings with two or more homes, worth about $95.4 million to build. That's 3.9 per 1,000 residents, about the pace of Minnesota as a whole. Over the past 10 years, Edina has permitted 3,149 homes in all.
Between the 2010 and 2020 censuses, Edina gained 5,553 residents while 2,054 new homes were permitted: about 2.7 new residents per new home, about the same as across Minnesota (2.2).
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 30 | 30 | 0 | $31.3 million |
| 2025 | 210 | 60 | 150 | $95.4 million |
| 2024 | 327 | 51 | 276 | $106 million |
| 2023 | 61 | 61 | 0 | $64.9 million |
| 2022 | 870 | 64 | 806 | $214.8 million |
| 2021 | 102 | 75 | 27 | $71.4 million |
| 2020 | 551 | 77 | 474 | $167.4 million |
| 2019 | 162 | 66 | 96 | $63.9 million |
| 2018 | 359 | 73 | 286 | $130.7 million |
| 2017 | 349 | 91 | 258 | $89.6 million |
| 2016 | 158 | 109 | 49 | $74.7 million |
| 2015 | 492 | 116 | 376 | $142.5 million |
| 2014 | 231 | 122 | 109 | $87.4 million |
| 2013 | 110 | 108 | 2 | $61.3 million |
| 2012 | 102 | 102 | 0 | $56.4 million |
| 2011 | 57 | 57 | 0 | $29.4 million |
| 2010 | 34 | 34 | 0 | $16.6 million |
| 2009 | 18 | 18 | 0 | $10.3 million |
| 2008 | 186 | 36 | 150 | $52.4 million |
| 2007 | 62 | 62 | 0 | $47.8 million |
| 2006 | 205 | 53 | 152 | $56 million |
| 2005 | 43 | 43 | 0 | $30.2 million |
| 2004 | 25 | 25 | 0 | $19.6 million |
| 2003 | 83 | 32 | 51 | $24.2 million |
| 2002 | 127 | 27 | 100 | $26.6 million |
| 2001 | 194 | 22 | 172 | $19.8 million |
| 2000 | 28 | 28 | 0 | $15.4 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs above the Minnesota norm
The median bill is $6,951 (Minnesota: $3,357), 1.08% of a home’s value a year, against 1.02% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Edina
Only figures published free for the whole country, each labeled with the area it covers: the Minneapolis-St. Paul-Bloomington, MN-WI metro area, or Minnesota. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 105 | MN 99 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 103 | MN 101 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 93 | MN 91 | metro | BEA, 2024 |
| Other services U.S. = 100 | 104 | MN 100 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Edina vs. its neighbors
Of the 8 towns here with a Zillow value, Edina has the 8th-lowest.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Edina | D | $625K | $646K | 1.08% | $2,070 |
| Bloomington | C | $360K | $362K | 1.07% | $1,870 |
| Hopkins | C− | $329K | $376K | 1.28% | $1,860 |
| St. Louis Park | C | $377K | $387K | 1.13% | $1,960 |
| Eden Prairie | C− | $500K | $474K | 1.09% | $2,270 |
| Minnetonka | C− | $485K | $476K | 1.11% | $1,970 |
| Minneapolis | C | $328K | $362K | 1.20% | $1,740 |
| Richfield | C+ | $343K | $344K | 1.14% | $1,660 |
Questions about the cost of living in Edina
Is Edina expensive to live in?
Measured against what households in the area earn, Edina costs more than 92% of U.S. towns: a D for cost of living, #268 of 273 in Minnesota. The typical home costs 6.5 years of the median household income of the Minneapolis-St. Paul-Bloomington, MN-WI metro area ($100K).
How much does a house cost in Edina?
About $625K, Zillow’s typical value for September 2026, up 4.3% in a year. The Minnesota typical home is $349K.
What salary do you need to live in Edina?
To buy the typical home with 20% down at 6.3%, about $164,000 a year, keeping the payment (about $3,830 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $83,000.
How much is rent in Edina?
HUD puts a two-bedroom at about $2,070 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,844 (Census 2020–24).
What are property taxes in Edina?
The median bill is $6,951 a year, 1.08% of the median home value (Minnesota: $3,357, 1.02%), from the Census 2020–24.
Are home prices in Edina going up?
Yes: up 4.3% in the past year and 18.7% in five years, against 14.1% across Minnesota (Zillow).
Neighbors talk housing
What Edina buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.