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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Falcon Heights, MN Housing Affordability Index

Falcon Heights, Minnesota has an MBR Housing Affordability Index score of 94.3 (Near National Average) as of October 30, 2026, ranking 719th most affordable of 809 scored Minnesota cities, compared with 97.5 statewide and 97.4 nationally. On a median-priced $384,500 home with 20% down, the Minnesota average 30-year fixed rate of 7.27% means a monthly principal and interest payment of about $2,102, or 26% of the city’s $96,528 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Falcon Heights is updated every night from live Minnesota mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Falcon Heights MBR-HAI 94.3 Near National Average
Rank in Minnesota 719 of 809 1 = most affordable
Minnesota 97.5 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.27% Minnesota lenders
Median home value $384,500 U.S. Census Bureau

Falcon Heights is 3.2 points below the Minnesota score. Scores as of October 30, 2026. See the Minnesota index

View Falcon Heights Mortgage Rates

What It Takes to Buy in Falcon Heights

$2,102/mo
Principal & Interest
Median home, 20% down, 7.27%
$90,100
Income Needed
To keep the payment at 28% of income
$96,528
Median Household Income
Minnesota: $89,062
4.0x
Price-to-Income Ratio
Minnesota: 3.7x
$1,657/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$4,568/yr
Median Property Tax
1.19% of median value
14.2%
Owner Cost Burden
Owners spending 30%+ of income on housing
52.0%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Falcon Heights, Minnesota. The rate is the Minnesota average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

How Falcon Heights Ranks in Minnesota

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Cite the Falcon Heights Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Falcon Heights, Minnesota score: 94.3 (Near National Average), ranked 719 of 809 Minnesota cities. monitorbankrates.com/housing-affordability-index/minnesota/falcon-heights”