Assumable Mortgages in Minnesota

Assumable Homes in Minnesota

Minnesota's Twin Cities metro is one of the most competitive housing markets in the Upper Midwest, and assumable property has become an increasingly important strategy for buyers seeking relief from current rate levels. Our Minnesota dataset covers approximately 71,000 FHA and VA assumable homes across 1,338 census tracts, with a median note rate of 3.7%.

The Minneapolis–Saint Paul metro accounts for the majority of Minnesota's assumable homes inventory. FHA assumable property is concentrated in the inner-ring suburbs — Brooklyn Park, Brooklyn Center, Fridley, Maplewood, and South St. Paul — as well as in Minneapolis and Saint Paul themselves. These communities saw strong FHA origination activity during the 2019–2022 rate window.

Rochester, Duluth, Saint Cloud, Mankato, and Moorhead also carry meaningful assumable property inventory. Minnesota's National Guard installations and the Twin Cities-area federal workforce contribute VA assumable homes to the metro market.

At 5.8 years median age and a 3.7% median note rate, Minnesota's assumable obligations largely date to the 2020–2022 period. The Twin Cities housing market has seen significant price appreciation since 2020, making the payment savings from assuming at 3.7% versus originating new especially meaningful for buyers in the $300,000–$500,000 price range. Our Minnesota data list covers all 87 counties at the census-tract level, including detailed coverage of the seven-county metro area.