Mahtomedi, MN housing market
The typical Mahtomedi home is worth about $488,000, up 4.2% in a year, 39% above the Minnesota typical home. Homes typically sell in 14 days, close to asking.
Home values, sales, trends and how Mahtomedi compares with the towns next door — updated as new data is published.
Mahtomedi at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Typical home value, 2016–2026
Show as a table
| January | Mahtomedi | Minnesota |
|---|---|---|
| 2017 | $317,000 | $217,000 |
| 2018 | $331,000 | $232,000 |
| 2019 | $347,000 | $246,000 |
| 2020 | $364,000 | $259,000 |
| 2021 | $388,000 | $282,000 |
| 2022 | $433,000 | $313,000 |
| 2023 | $447,000 | $325,000 |
| 2024 | $456,000 | $331,000 |
| 2025 | $471,000 | $341,000 |
| 2026 | $478,000 | $349,000 |
| August 2026 | $488,000 | $351,000 |
47 new homes permitted in 2025
Builders were permitted 47 new homes in Mahtomedi in 2025: 8 single-family houses and 39 in buildings with two or more homes, worth about $16.9 million to build. That's 5.8 per 1,000 residents, faster than across Minnesota (3.8). Over the past 10 years, Mahtomedi has permitted 274 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Mahtomedi gained 462 residents while 246 new homes were permitted: about 1.9 new residents per new home. Building and growth moved roughly in step. Across Minnesota: 2.2 new residents per new home.
How Mahtomedi ranks on housing keeping up with growth →
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) | 10 | 10 | 0 | $9.6 million |
| 2025 | 47 | 8 | 39 | $16.9 million |
| 2024 | 4 | 4 | 0 | $2.7 million |
| 2023 | 13 | 13 | 0 | $11 million |
| 2022 | 115 | 5 | 110 | $23.4 million |
| 2021 | 7 | 7 | 0 | $4.1 million |
| 2020 | 10 | 10 | 0 | $6.8 million |
| 2019 | 13 | 13 | 0 | $6.5 million |
| 2018 | 12 | 12 | 0 | $6.2 million |
| 2017 | 47 | 11 | 36 | $11 million |
| 2016 | 6 | 6 | 0 | $2 million |
| 2015 | 91 | 12 | 79 | $17.4 million |
| 2014 | 16 | 16 | 0 | $6 million |
| 2013 | 13 | 13 | 0 | $6.7 million |
| 2012 | 26 | 26 | 0 | $8.4 million |
| 2011 | 11 | 11 | 0 | $3.3 million |
| 2010 | 11 | 11 | 0 | $3.4 million |
| 2009 | 3 | 3 | 0 | $827,000 |
| 2008 | 4 | 4 | 0 | $1.1 million |
| 2007 | 69 | 69 | 0 | $11.5 million |
| 2006 | 28 | 28 | 0 | $8.7 million |
| 2005 | 31 | 31 | 0 | $12.3 million |
| 2004 | 19 | 19 | 0 | $5.1 million |
| 2003 | 35 | 35 | 0 | $10.2 million |
| 2002 | 23 | 23 | 0 | $7.4 million |
| 2001 | 21 | 21 | 0 | $6.7 million |
| 2000 | 171 | 32 | 139 | $18.7 million |
How Mahtomedi ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Mahtomedi and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Mahtomedi | $488K | +4.2% | $2,150 | 47 | $123,319 |
| Dellwood | $946K | +3.3% | $1,820 | 0 | $225,000 |
| Birchwood Village | — | +0.8%† | $1,820 | 1 | $156,563 |
| Grant | $733K | +3.6% | $1,710 | 18 | $150,875 |
| White Bear Lake | $358K | +2.9% | $1,820 | 6 | $83,554 |
| Pine Springs | $626K | +4.7% | $2,040 | 0 | $156,250 |
| Oakdale | $358K | +3.7% | $1,700 | 495 | $93,772 |
† FHFA price index change, where Zillow has no home value for the town.
4 years of income
The typical Mahtomedi home costs about 4 years of the town's median household income, about the same as across Minnesota (3.9).
How Mahtomedi ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $2,150
HUD's Fair Market Rent for a two-bedroom in Mahtomedi is $2,150 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Mahtomedi pay a median of $1,694, so moving in tends to cost more than staying put. A two-bedroom takes about 21% of the town's median household income.
Studio $1,560 · 4 bedrooms $3,180
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55115; 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, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.