Real Estate Investing in Saint Paul, Minnesota (55104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 55104 (Saint Paul, MN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Elevated vacancy: 8.3% vacancy may signal weakening demand.
- Flat appreciation: Values have barely moved over 5 years (1.2% CAGR).
What’s happening in Saint Paul, MN (55104)?
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Market Analysis: 55104 Saint Paul
The 55104 ZIP in Saint Paul, MN is a local-operator market. Outside capital chasing a $309K entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 55104 stands at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Saint Paul have seen price recovery that 55104 has not matched. Ramsey County data supports the view that the spread is structural rather than temporary.
Resident income in 55104 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 55104 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Saint Paul:
Property Strategy for 55104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $176,765 | $1,260 | 5.1% | +2.3% | $176,765 |
| 2BR | $236,537 | $1,530 | 4.7% | +2.9% | $118,269 |
| 3BR | $292,106 | $2,020 | 5.0% | +2.8% | $97,369 |
| 4BR | $355,684 | $2,270 | 4.6% | +2.6% | $88,921 |
| 5BR | $454,026 | — | — | +2.4% | $90,805 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 55104 Compare?
| Metric | 55104 | Saint Paul | Minnesota |
|---|---|---|---|
| Home Value | $308,771 | $262,186 | $340,597 |
| 5-Year CAGR | 1.2% | 1.7% | 4.9% |
| Avg Rent | $1,442 | $1,440 | - |
| Cap Rate | 3.6% | 3.9% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 55104 (Saint Paul, MN). Anonymous, moderated, never written by AI.
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Property managers serving Ramsey County
Manage rentals here? List your business →Property Care provides HOA Management services. summary from their website
Simply Residential Property Management offers expert management of single-family, condominiums, and multi-family dwellings throughout the Twin Cities. summary from their website
Spire Community Management provides HOA management services in Minnesota, with a local phone number for the state. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $308,771 |
| Monthly Rent | $1,442 |
| Price-to-Rent | 17.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.6% |
| 5-Year IRR | 4.9% |
📈 Home Appreciation
| 1-Year | +3.7% ▲ |
| 3-Year CAGR | +1.1% ▲ |
| 5-Year CAGR | +1.2% ▲ |
| 10-Year CAGR | +4.5% ▲ |
🏠 Rent Trends
| 1-Year | -22.0% ▼ |
| 3-Year CAGR | -5.9% ▼ |
| 5-Year CAGR | -2.7% ▼ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 55104
Population: 45,777
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 55104
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,257 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Saint Paul, MN a smart market for rental property?
Saint Paul, MN posts an investability rating of 2.0/5, with median home values near $309K and average rents around $1,442/mo. That combination puts it in the resilient tier for investor interest.
What strategy should investors use in Saint Paul, MN?
Most investors in Saint Paul, MN run a careful cash-flow rentals with hands-on management strategy. It aligns with the 2.0/5 investability profile and the market fundamentals.
How tight is the rental market in Saint Paul, MN?
Saint Paul, MN sees elevated vacancy, which is reasonable relative to the broader MN rental market.
Are renters plentiful in Saint Paul, MN?
The tenant pool in Saint Paul, MN is solid, supported by local employment and population fundamentals. Rents of $1,442/mo are well-absorbed by the market.
How expensive is real estate in Saint Paul, MN?
Homes in Saint Paul, MN typically sell near $309K. Prices have moved at a 0.0% 5-year CAGR, which steady long-term demand.
You know 55104 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 55104 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 55104 ranks in Minneapolis-St. Paul-Bloomington, MN-WI
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