Grey Cloud Island, MN housing market
Home prices around Grey Cloud Island have risen about 36% over the past 5 years. Builders were permitted 1 new home in 2025.
Home values, sales, trends and how Grey Cloud Island compares with the towns next door — updated as new data is published.
Home prices up 36% in 5 years
The federal house price index for the ZIP codes around Grey Cloud Island rose 36% over the past 5 years, about the same as across Minnesota. Last year prices rose 6.5%.
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| Year | Change that year | Since 2000 | Minnesota since 2000 |
|---|---|---|---|
| 2025 | +6.5% | +126% | +127% |
| 2024 | −3.7% | +113% | +120% |
| 2023 | +6.6% | +121% | +113% |
| 2022 | +11% | +107% | +104% |
| 2021 | +12% | +87% | +82% |
| 2020 | +3.2% | +67% | +66% |
| 2019 | +7.2% | +61% | +61% |
| 2018 | +9.3% | +51% | +55% |
| 2017 | +7.1% | +38% | +46% |
| 2016 | +1.4% | +29% | +38% |
| 2015 | +4.6% | +27% | +32% |
| 2014 | +13% | +21% | +28% |
| 2013 | +5.2% | +7.3% | +21% |
| 2012 | −6.3% | +2% | +16% |
| 2011 | −4.3% | +8.9% | +18% |
| 2010 | −6% | +14% | +25% |
| 2009 | −13% | +21% | +33% |
| 2008 | −5.3% | +39% | +42% |
| 2007 | −2.2% | +47% | +48% |
| 2006 | +2.7% | +50% | +49% |
| 2005 | +8.1% | +46% | +45% |
| 2004 | +8.7% | +35% | +34% |
| 2003 | +6.1% | +24% | +23% |
| 2002 | +6.2% | +17% | +18% |
| 2001 | +10% | +10% | +9.2% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 55071, 55016, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
1 new home permitted in 2025
Builders were permitted 1 new home in Grey Cloud Island in 2025. Over the past 8 years, Grey Cloud Island has permitted 2 homes in all.
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| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 1 | 1 | 0 | $150,000 |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 1 | 1 | 0 | $360,000 |
| 2015 | 1 | 1 | 0 | $500,000 |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 1 | 1 | 0 | $150,000 |
| 2009 | 1 | 1 | 0 | $22,000 |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 1 | 1 | 0 | $210,000 |
| 2006 | 0 | 0 | 0 | — |
| 2005 | 0 | 0 | 0 | — |
| 2004 | 0 | 0 | 0 | — |
| 2003 | 1 | 1 | 0 | $200,000 |
| 2002 | 2 | 2 | 0 | $410,000 |
| 2001 | 1 | 1 | 0 | $250,000 |
| 2000 | 1 | 1 | 0 | $250,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Grey Cloud Island and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Grey Cloud Island | — | +6.5%† | $2,320 | 1 | $125,833 |
| Cottage Grove | $399K | +1.8% | $2,040 | 426 | $120,791 |
| St. Paul Park | $319K | +2.3% | $2,330 | 2 | $100,642 |
| Inver Grove Heights | $375K | +2% | $1,730 | 424 | $101,316 |
† FHFA price index change, where Zillow has no home value for the town.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $2,320
HUD's Fair Market Rent for a two-bedroom in Grey Cloud Island is $2,320 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $1,680 · 4 bedrooms $3,430
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55016, 55071; 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.