Minneapolis - MN vs Austin - TX: 2026 Housing Comparison

What this means for buyers

Austin - TX is roughly 7% more expensive than Minneapolis - MN in typical home value. Homes sit on market longer in Austin - TX (60 days vs 26), suggesting more buyer leverage there.

Minneapolis vs Austin: what the numbers say

At today's 7.40% average 30-year rate with 20% down, the typical home would cost about $2,148 a month in principal and interest in Minneapolis and $2,295 in Austin, a gap of $147 a month.

Typical rent runs $1,736 in Minneapolis and $1,603 in Austin, so the mortgage payment alone is 1.2 times rent in Minneapolis and 1.4 times rent in Austin, before taxes and insurance.

Home prices are 18.6 years of rent in Minneapolis and 21.5 in Austin; the lower ratio in Minneapolis means buying there is cheaper relative to renting.

Over the last 23 months typical values moved +3.5% in Minneapolis and -9.8% in Austin; over just the last three months the change was +0.4% in Minneapolis and -0.1% in Austin.

Homes sell for 100.3% of list price in Minneapolis and 97.3% in Austin, after 26 and 60 days on the market, with price cuts on 30% and 30% of listings. All three signs point the same way: buyers have more room to negotiate in Austin.

The number of homes for sale is up 19% on a year ago in Minneapolis and down 3% on a year ago in Austin.

Payments assume a 30-year fixed loan at the Freddie Mac weekly average rate (2026-10-15), 20% down, principal and interest only. Home values, rents and market figures are Zillow Research metro data.