Castle Rock, MN housing market
Home prices around Castle Rock have risen about 35% over the past 5 years. Builders were permitted 1 new home in 2025.
Home values, sales, trends and how Castle Rock compares with the towns next door — updated as new data is published.
Home prices up 35% in 5 years
The federal house price index for the ZIP codes around Castle Rock rose 35% over the past 5 years, about the same as across Minnesota. Last year prices rose 1.6%. Carrying the Census median home value forward with that index puts the typical Castle Rock home at roughly $659,000 today.
Show as a table
| Year | Change that year | Since 2000 | Minnesota since 2000 |
|---|---|---|---|
| 2025 | +1.6% | +119% | +127% |
| 2024 | +2.3% | +115% | +120% |
| 2023 | +4.5% | +111% | +113% |
| 2022 | +13% | +101% | +104% |
| 2021 | +9.9% | +78% | +82% |
| 2020 | +2.4% | +62% | +66% |
| 2019 | +4.2% | +58% | +61% |
| 2018 | +5.6% | +52% | +55% |
| 2017 | +6.4% | +44% | +46% |
| 2016 | +4.7% | +35% | +38% |
| 2015 | +1.5% | +29% | +32% |
| 2014 | +11% | +27% | +28% |
| 2013 | +6% | +14% | +21% |
| 2012 | −0.6% | +8% | +16% |
| 2011 | −7.7% | +8.7% | +18% |
| 2010 | −6.4% | +18% | +25% |
| 2009 | −9.5% | +26% | +33% |
| 2008 | −6% | +39% | +42% |
| 2007 | −2.5% | +48% | +48% |
| 2006 | +1.4% | +52% | +49% |
| 2005 | +8.8% | +50% | +45% |
| 2004 | +8.6% | +37% | +34% |
| 2003 | +5.5% | +27% | +23% |
| 2002 | +8.5% | +20% | +18% |
| 2001 | +11% | +11% | +9.2% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 55024, 55065, 55031, 55057, covering 80% of Castle Rock’s land, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
1 new home permitted in 2025
Builders were permitted 1 new home in Castle Rock in 2025. That's 0.7 per 1,000 residents, slower than across Minnesota (3.8). Over the past 10 years, Castle Rock has permitted 32 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Castle Rock gained 8 residents while 21 new homes were permitted: about 0.4 new residents per new home. Building outpaced population growth, which usually means smaller households or homes used part of the year. Across Minnesota: 2.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 1 | 1 | 0 | $367,000 |
| 2025 | 1 | 1 | 0 | $367,000 |
| 2024 | 2 | 2 | 0 | $988,000 |
| 2023 | 3 | 3 | 0 | $1.9 million |
| 2022 | 8 | 8 | 0 | $3.9 million |
| 2021 | 4 | 4 | 0 | $1.8 million |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 3 | 3 | 0 | $1.1 million |
| 2018 | 5 | 5 | 0 | $1.6 million |
| 2017 | 3 | 3 | 0 | $773,000 |
| 2016 | 3 | 3 | 0 | $970,000 |
| 2015 | 1 | 1 | 0 | $380,000 |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 3 | 3 | 0 | $1.4 million |
| 2012 | 1 | 1 | 0 | $400,000 |
| 2011 | 2 | 2 | 0 | $590,000 |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 2 | 2 | 0 | $577,000 |
| 2007 | 3 | 3 | 0 | $972,000 |
| 2006 | 1 | 1 | 0 | $167,000 |
| 2005 | 3 | 3 | 0 | $801,000 |
| 2004 | 2 | 2 | 0 | $390,000 |
| 2003 | 4 | 4 | 0 | $760,000 |
| 2002 | 3 | 3 | 0 | $479,000 |
| 2001 | 3 | 3 | 0 | $647,000 |
| 2000 | 2 | 2 | 0 | $426,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Castle Rock and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Castle Rock | — | +1.6%† | $1,710 | 1 | $132,917 |
| Farmington | $400K | +1.4% | $1,700 | 197 | $123,673 |
| Hampton | $357K | +3.4% | $1,650 | 1 | $117,250 |
| Sciota | — | +4.6%† | $1,650 | 0 | $113,750 |
| Eureka | — | +1.9%† | $1,860 | 1 | $100,000 |
| Empire | — | — | — | — | $147,700 |
† FHFA price index change, where Zillow has no home value for the town.
3.4 years of income
The typical Castle Rock home costs about 3.4 years of the town's median household income, less than across Minnesota (3.9 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,710
HUD's Fair Market Rent for a two-bedroom in Castle Rock is $1,710 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Castle Rock pay a median of $1,107, so moving in tends to cost more than staying put. A two-bedroom takes about 15% of the town's median household income.
Studio $1,240 · 4 bedrooms $2,540
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55024, 55031, 55057, 55065; Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.