Spring Lake, MN housing market
Home prices around Spring Lake have risen about 36% over the past 5 years.
Home values, sales, trends and how Spring Lake 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 Spring Lake rose 36% over the past 5 years, about the same as across Minnesota. Last year prices rose 3.3%. Carrying the Census median home value forward with that index puts the typical Spring Lake home at roughly $919,000 today.
Show as a table
| Year | Change that year | Since 2000 | Minnesota since 2000 |
|---|---|---|---|
| 2025 | +3.3% | +122% | +127% |
| 2024 | +1.6% | +115% | +120% |
| 2023 | +4.8% | +111% | +113% |
| 2022 | +14% | +102% | +104% |
| 2021 | +8.3% | +76% | +82% |
| 2020 | +2.7% | +63% | +66% |
| 2019 | +4.3% | +58% | +61% |
| 2018 | +5.2% | +52% | +55% |
| 2017 | +4.4% | +44% | +46% |
| 2016 | +5.6% | +38% | +38% |
| 2015 | +3.5% | +31% | +32% |
| 2014 | +7.2% | +26% | +28% |
| 2013 | +5.3% | +18% | +21% |
| 2012 | −0.6% | +12% | +16% |
| 2011 | −5.1% | +13% | +18% |
| 2010 | −8.6% | +19% | +25% |
| 2009 | −10% | +30% | +33% |
| 2008 | −5.1% | +45% | +42% |
| 2007 | −1.1% | +53% | +48% |
| 2006 | +2.9% | +55% | +49% |
| 2005 | +9.4% | +50% | +45% |
| 2004 | +9.8% | +37% | +34% |
| 2003 | +4.4% | +25% | +23% |
| 2002 | +9.4% | +20% | +18% |
| 2001 | +9.6% | +9.6% | +9.2% |
| 2000 | — | — | — |
How Spring Lake ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 55372, 55352, 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.
Spring Lake and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Spring Lake | — | +3.3%† | $1,640 | — | $146,953 |
| Prior Lake | $530K | +1.8% | $1,740 | 33 | $134,255 |
| Cedar Lake | — | +2.7%† | $1,730 | — | $173,500 |
| Credit River | — | — | — | 24 | $143,125 |
| Sand Creek | — | +4.9%† | $1,590 | — | $101,023 |
| Shakopee | $405K | +1.1% | $1,860 | 297 | $107,223 |
† FHFA price index change, where Zillow has no home value for the town.
4.3 years of income
The typical Spring Lake home costs about 4.3 years of the town's median household income, more than across Minnesota (3.9 years).
How Spring Lake 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 $1,640
HUD's Fair Market Rent for a two-bedroom in Spring Lake is $1,640 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Spring Lake pay a median of $2,197. A two-bedroom takes about 13% of the town's median household income.
Studio $1,190 · 4 bedrooms $2,420
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55352, 55372; 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. 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.