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Spring Park

Learn about the people, housing, costs and businesses in Spring Park, Minnesota

Median Home$757,700
Median Rent$1,283/month
Population1,700
Leading IndustriesArts, Food & Hospitality · Healthcare · Transportation10% arts, food & hospitality
Home Value Growth+4.0% over 2 years
Retirees30% of residentswell above average
Renters51% of occupied units
NotableHighly Educated30% hold a bachelor's degree · top 9% nationally
NotableAmenity Score73/100 · highly walkable area
Spring Park
MN

Frequently Asked Questions

What are today's mortgage rates in Spring Park?

As of today, the 30-year fixed mortgage rate for Spring Park is approximately 6.844% (6.878% 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 Spring Park?

The median home value in Spring Park is $758k. The median monthly rent is $1,283. Annual property taxes average $7k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Spring Park?

Home values in Spring Park have increased 4.0% 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 Spring Park?

Based on a typical all-in ownership cost of $1,611/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $69k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Spring Park is $65k/year.

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What industries drive the economy in Spring Park?

The largest employment sectors in Spring Park are public administration (26%) and healthcare (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.