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Inver Grove Heights

Learn about the people, housing, costs and businesses in Inver Grove Heights, Minnesota

Median Home$424,116
Median Rent$1,406/month
Population35,814
Leading IndustriesHealthcare · Arts, Food & Hospitality · Transportation15% healthcare
Home Value Growth+7.0% over 2 years
Young Adults26% of residents
Homeowners77% of occupied units
NotableHighly Educated29% hold a bachelor's degree · top 10% nationally
NotableHigh Incomes$105k/year · top 14% nationally
Inver Grove Heights
MN

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Real local data across mortgage, insurance, natural hazard, and place.

Frequently Asked Questions

What are today's mortgage rates in Inver Grove Heights?

As of today, the 30-year fixed mortgage rate for Inver Grove Heights is approximately 6.906% (6.942% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Inver Grove Heights?

The median home value in Inver Grove Heights is $424k. The median monthly rent is $1,406. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Inver Grove Heights?

Home values in Inver Grove Heights have increased 7.0% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Inver Grove Heights?

Based on a typical all-in ownership cost of $1,591/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $68k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Inver Grove Heights is $105k/year.

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What industries drive the economy in Inver Grove Heights?

The largest employment sectors in Inver Grove Heights are public administration (20%) and healthcare (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.