Shorewood: Housing & Real Estate
Shorewood homes sell at a median $703,200 (estimated market value runs 6% higher at $748,002), with median rent $1,607 (1.1× higher than Hennepin County median $1,487; 1.3× higher than Minnesota median $1,280). Homeownership rate: 93.2%. That's 1.8× higher than the Hennepin County median ($392,900); 2.1× higher than the Minnesota median ($329,300). Market is warm. Vacancy rate 2.3%. New construction makes up 10.4% of stock. A municipal building code is in effect.
- 4.1× annual income — home value vs. household income (vs Minnesota 3.9×).
- 36.5 years to break even renting at the median (vs Minnesota 20y).
- 4-BR rent is 2.0× a studio — rent gradient by unit size.
- Median rent 5% below HUD 2-BR FMR — local market vs federal subsidy benchmark.
Home Values & Rent
Median home value $703,200 — 2.1× the Minnesota median ($337,000). Median rent $1,607/month. homeownership rate 93.2% — above the U.S. share of ~65%.
| Affordability · Home Price To Income | 4.1× |
|---|---|
| Affordability · Home Affordability | moderate |
| Affordability · Rent Pct Income | 14.7% |
| Affordability · Rent Affordability | affordable |
| Affordability · Pct Severely Rent Burdened | 42.3% |
| Affordability · Poverty Rate | 5.2% |
| Affordability · Property Tax Pct Income | 4.3% |
| Fair Market Rent · Studio rent | $1,242 (at Minnesota median) |
| Fair Market Rent · One-bedroom rent | $1,405 (at Minnesota median) |
| Fair Market Rent · Two-bedroom rent | $1,709 (at Minnesota median) |
| Fair Market Rent · Three-bedroom rent | $2,262 (at Minnesota median) |
| Fair Market Rent · Four-bedroom rent | $2,531 (at Minnesota median) |
| Fair Market Rent · HUD FMR area | Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area |
| Fair Market Rent · Fiscal year | FY2026 |
| Home Value Estimate | $748,002 |
| Median Home Value | $703,200 (vs Minnesota $337,000) |
| Median Rent | $1,607 (vs Minnesota $1,371) |
Sources: HUD FMR FY2026 · Census ACS 5-Year 2023, B25077 · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Tenure & Occupancy
Owner-occupied vs renter-occupied housing units, plus vacancy rates.
| Housing Market · Market temperature | warm |
|---|---|
| Housing Market · Vacancy rate | 2.3% |
| Housing Market · New construction (% of stock) | 10.4% |
| Housing Market · Price Appreciation 2Yr | 2.7% |
Utilities
Electricity, water, and broadband infrastructure serving residents. Broadband percentages reflect the share of premises that can subscribe to service at the listed speed (FCC Form 477).
Systems (1)
| Broadband · % of premises with 25/3 Mbps broadband | 100.0% (at Minnesota median) |
|---|---|
| Broadband · % of premises with 100/20 Mbps broadband | 100.0% (at Minnesota median) |
| Broadband · % of premises with 250/25 Mbps broadband | 100.0% (at Minnesota median) |
| Broadband · % of premises with 1 Gbps / 100 Mbps broadband | 23.9% (vs Minnesota 62.2%) |
| Broadband · Broadband-capable premises | 5,182 |
| Electricity · Electricity rate (¢/kWh) | 15.45¢/kWh |
| Electricity · Customers | 2581180 |
| Electricity · Revenue Millions | $3,409 |
| Electricity · Year | 2024 |
| Mobile Broadband · 3G mobile coverage | 0.000000000 |
| Mobile Broadband · 4G mobile coverage | 1.000000000 (at Minnesota median) |
| Mobile Broadband · 5G mobile coverage | 1.000000000 (at Minnesota median) |
| Mobile Home Parks Detail · County total | 2 |
Sources: FCC BDC Jun 2025 · EIA Annual Retail Sales 2023 · FCC BDC Mobile 2024 · HIFLD / IRS BMF · Refreshed 2026-04-12
Other
| Homeownership Rate | 93.2% (vs Minnesota 69.7%) |
|---|---|
| Median Year Built | 1987 |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12