Minnesota’s beautiful waterways and natural assets seamlessly transform into vibrant cities and a thriving economy. Minnesota is a beautiful state with so many wonderful things to do that homeowners are making the move to build new homes in Minnesota.
Saint Paul, Minnesota’s capital city, is also the second-most populous state city. It is located just across from Minneapolis and forms the well-known Twin Cities of the Midwest. Strategically, it is located on the banks of both the Mississippi River and the Minnesota River. Saint Paul became a major transportation hub in 1850s thanks to this. The city was known as “The Last City of the East”, because it was the best landing spot for riverboats.
Minnesota House Building Costs
What is the cost of building a Minnesota house? While each home will be unique due to the above factors, we can provide some general information. The average cost to build a Minnesota home is $90 to $200 per sq foot.
It costs $110 to build a house, depending on what grade you choose. This does not include the cost of land. Get a better idea of the cost of your home-building project by visiting our Cost Calculator.
A 2,600 Sq. Ft two-story home with a lower level would cost 1,300 x $300, 1,300x $150 and 1,200x $75 respectively. This totals $675,000 or $173.08/square foot.
The cost of home building is determined by the quality of construction chosen:
- Cost of the home building (standard grade construction), $110 to $160 per sq.
- Cost of the home building (premium-grade construction): $160 to $220 per square foot
- Cost of the home building (luxury-grade construction): $200 to $250/square foot
- For a more precise cost estimate for your home-building project,
Cost Of Building A House In Minnesota Twin Cities
The cost to build a house or apartment in Twin Cities, Minnesota is $110 to $250 depending on the type of construction.
Minnesota house construction costs per square foot average
Although the number of custom homes built has decreased slightly, the average square-foot cost has increased over the past two years. After averaging $230.29 per sq. The average price per square foot increased by 2.6% in 2021, and then 36.5% in 2020 to $325.15. Ft is $85.80/sq. per square foot. The sharp rise in the cost per square foot of custom homes in 2022 is most likely due to increased material prices and labor shortages.
Median House Price – Average House Price
A Minnesota median home that can accommodate a family with 4-6 people is valued at $311,000. There are some properties that are cheaper in smaller towns or cities in Minnesota. However, you will also find luxury homes that are more expensive.
Average Single-Family Homes
Minnesota’s building costs per square foot range from $79.47 up to $121.70/sqft. The average cost for private homes of the average standard is $93.71/sqft.
Luxurious Single Family Homes
Minnesota’s building costs per square foot range from $341.44 up to $523.41, with an average of $402.95 for private luxury homes.
Minnesota Land Costs, USA
The plot of land is a big, but often overlooked factor that can affect the cost of building a home. Add the cost of the land to your total home building costs.
Expect to spend a lot in luxurious areas and high-end neighborhoods. This is usually true for land in the city’s center, but it is sometimes not the case. The land price may be significantly lower if you select land on the outskirts or in a rural area.