55347, Eden Prairie, MN

The 55347 zip code of Eden Prairie, Minnesota is located in the Twin Cities metropolitan area. The median home value in this zip code is $248,000 and the median home equity value is $157,000. Home prices have increased significantly over the past few years, with an average annual increase of 6.5%.

There are a number of factors that have contributed to the increase in home values in this zip code. First and foremost, Eden Prairie has experienced strong population growth over the past few years. This has led to an increased demand for housing and consequently, higher home values. Additionally, Eden Prairie is located in a desirable location - it is close to both downtown Minneapolis and St. Paul, two major metropolitan areas with a large number of jobs and businesses. Finally, Eden Prairie has experienced very low levels of unemployment over the past few years which has helped to drive up prices even further.

Despite these positive trends, there are some risks associated with buying or owning a home in the 55347 zip code of Eden Prairie. First and foremost, there is always the risk that interest rates will rise again (and thus cause prices to decline). Second, although Eden Prairie is located in a desirable location, there may be times when economic conditions outside of Minneapolis or St. Paul make living here difficult or even impossible (for example: during periods of recession). Finally, although home values have been increasing rapidly overall in this zip code over recent years, it's important to keep in mind that not all homes within this area are worth as much as others - so it's important to do your research before making any decisions about purchasing or selling a property here!