Real Estate Investing in Richfield, Minnesota (55423)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 55423 (Richfield, MN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Richfield, MN (55423)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 55423 Richfield
From a cash-flow lens, ZIP 55423 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $352K median. It rewards specialists, not generalists.
Rent of $1,412/mo on a $352K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 55423 sits below the stated 0.0% once reality is priced in.
Regionally, 55423 sits on the difficult end of the MN spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
A durable renter share of 38% in 55423 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 55423 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 Richfield:
Property Strategy for 55423
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $147,927 | $1,360 | 6.6% | -0.6% | $147,927 |
| 2BR | $297,090 | $1,660 | 4.0% | +4.7% | $148,545 |
| 3BR | $340,663 | $2,200 | 4.6% | +4.1% | $113,554 |
| 4BR | $383,135 | $2,460 | 4.6% | +4.2% | $95,784 |
| 5BR | $418,215 | — | — | — | $83,643 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 55423 Compare?
| Metric | 55423 | Richfield | Minnesota |
|---|---|---|---|
| Home Value | $352,469 | $352,469 | $340,597 |
| 5-Year CAGR | 2.8% | 2.8% | 4.9% |
| Avg Rent | $1,412 | $1,412 | - |
| Cap Rate | 3.1% | 3.1% | - |
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 55423 (Richfield, MN). Anonymous, moderated, never written by AI.
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Property managers serving Hennepin County
Manage rentals here? List your business →JJS Property Management of Central Minnesota offers a wide choice of apartments in various areas including Avon, Buffalo, Milaca, Monticello, Royalton, Sartell, Sauk Rapids, St. Cloud, and St. Joseph. summary from their website
MGM Property Management, LLC provides property management services for rental properties, homeowner associations, and commercial tenants in the Twin Cities, Rochester, and St. Cloud areas. 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
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 | $352,469 |
| Monthly Rent | $1,412 |
| Price-to-Rent | 20.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 5.9% |
📈 Home Appreciation
| 1-Year | +5.2% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +2.8% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 Rent Trends
| 1-Year | +7.5% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +5.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). 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 55423
Population: 36,779
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 55423
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 3,001 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical home price in Richfield, MN?
Median home price in Richfield, MN is near $352K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
Can I house hack in Richfield, MN?
The house hack math a challenging in Richfield, MN. Owner-occupant buyers benefit from the $1,412/mo rents and $352K home values.
Are there empty rentals in Richfield, MN?
Vacancy risk in Richfield, MN is elevated. That supports consistent cash flow for typical rental holds.
Are rents high in Richfield, MN?
Average rent in Richfield, MN is approximately $1,412/mo per month. Against $352K home values that yields a reasonable rent-to-price ratio.
What is the typical renter like in Richfield, MN?
The renter base in Richfield, MN is reasonable for the $1,412/mo price point. Screening well and pricing to market typically yields consistent tenants.
You know 55423 now. You don’t know where it ranks.
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How 55423 ranks in Minneapolis-St. Paul-Bloomington, MN-WI
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