May, MN housing market
Home prices around May have risen about 63% over the past 5 years.
Home values, sales, trends and how May compares with the towns next door — updated as new data is published.
Home prices up 63% in 5 years
The federal house price index for the ZIP codes around May rose 63% over the past 5 years, faster than across Minnesota (37%). Last year prices rose 9.4%.
Show as a table
| Year | Change that year | Since 2000 | Minnesota since 2000 |
|---|---|---|---|
| 2025 | +9.4% | +178% | +127% |
| 2024 | +0.2% | +154% | +120% |
| 2023 | +8.2% | +153% | +113% |
| 2022 | +26% | +134% | +104% |
| 2021 | +9.1% | +86% | +82% |
| 2020 | +7% | +71% | +66% |
| 2019 | +2.5% | +60% | +61% |
| 2018 | +4.9% | +56% | +55% |
| 2017 | +4.4% | +48% | +46% |
| 2016 | +3.7% | +42% | +38% |
| 2015 | −0.5% | +37% | +32% |
| 2014 | +1.7% | +38% | +28% |
| 2013 | +3.4% | +35% | +21% |
| 2012 | −2.6% | +31% | +16% |
| 2011 | −6.1% | +35% | +18% |
| 2010 | −7.8% | +43% | +25% |
| 2009 | +0.4% | +55% | +33% |
| 2008 | −10% | +55% | +42% |
| 2007 | +5.8% | +72% | +48% |
| 2006 | +5.4% | +63% | +49% |
| 2005 | +15% | +55% | +45% |
| 2004 | +5.5% | +34% | +34% |
| 2003 | +8.2% | +27% | +23% |
| 2002 | +9.5% | +18% | +18% |
| 2001 | +7.5% | +7.5% | +9.2% |
| 2000 | — | — | — |
How May ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 56473, 56466, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
May and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| May | — | +9.4%† | $980 | — | $61,250 |
| Motley | — | +8.3%† | $970 | — | $77,083 |
| Motley | $267K | +4.5% | $970 | 2 | $47,222 |
| Becker | — | +6.6%† | $990 | — | $59,545 |
| Meadow Brook | — | +8.3%† | $970 | — | $58,036 |
| Fairview | — | +7%† | $1,050 | — | $113,646 |
| Sylvan | — | +9.2%† | $1,000 | — | $95,354 |
† 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 $980
HUD's Fair Market Rent for a two-bedroom in May is $980 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in May pay a median of $1,354.
Studio $720 · 4 bedrooms $1,600
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (56466, 56473; Cass County, MN), 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. 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.