How have prices changed in Prospect Park over the past year?

Prices in Prospect Park, Minneapolis, Minnesota are up 7.3% over the past year. The neighborhood is about 5% above Minneapolis and about 16% above Minnesota, while gross yield is 5.0 and the Red Flag score is 62.

How does Prospect Park compare with Minneapolis and Minnesota?

Prospect Park in Minneapolis, Minnesota is about 5% above Minneapolis and about 16% above Minnesota on price. It has a gross yield of 5.0, walkability of 92, education in the 15th percentile, and a Red Flag score of 62.

Neighborhood

Prospect Park

Minneapolis, Minnesota US

Prospect Park in Minneapolis, Minnesota is a higher-walkability market with prices about 5% above Minneapolis and about 16% above Minnesota, paired with a Red Flag score of 62. Gross yield is 5.0, and prices are up 7.3% over the past year. Walkability is 92, while education is in the 15th percentile, so the mobility score stands out more clearly than the school-score reading.

AI Summary•Updated May 2026

Area

1.26 mi²

ZIP Code

55414

County

Hennepin County

State

Minnesota

Redfin — median sale & volumeZillow ZORI — asking rentFEMA National Risk Index v1.20OpenStreetMap — POIFBI UCR — state crimeEPA — radon zonesWashU ACAG — satellite PM2.5EPA FRS / BTS — hazard screeningUS Census ACS / TIGER 2024

Verified Price · Median Sale

$374,889

YoY+7.3%

Gross Rental Yield

5.0%

Listed rent · ZORI annualized

Red Flag Index

High

62 / 100

Walkability Score

Walker's Paradise

OpenStreetMap POI density · national percentile

Education Score

15 / 100

Limited · better than 15% of U.S. districts

Pre-pandemic SEDA (2018/19) · district proxy

AI Score

Fair

DistrictScore attractiveness · national model

Prospect Park Property Prices & Rental Yield

Verified Redfin sale data and Zillow ZORI asking rent for Prospect Park, Minneapolis.

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Market Economics Snapshot

May 2026

Metric	Value	YoY
Median Sale Price	$374,889	+7.3%
Price / Sq Ft (Verified)	$250/sqft	+13.4%
Asking Rent (Median)	$1,551/mo	+7.8%
Gross Rental Yield	5.0%	—
Liquidity Score	18 / 100	Low
Homes Sold (Period)	32	-20.0%

Is Prospect Park Safe? Natural-Hazard Risk

FEMA National Risk Index composite across eight hazards, plus inherited Minnesota crime context.

Red Flag Breakdown

62 / 100

High Risk

Composite is weighted by expected impact — frequent low-damage hazards (hail, wind) weigh less than flood or wildfire.

Tornado100Very High

Heat100Very High

Hail100Very High

Strong Wind80Very High

Flood60High

Wildfire40Moderate

Earthquake20Low

Hurricanen/an/a

7/8 hazards scored · FEMA NRI v1.20

Crime (state-level): Minnesota averaged 18.6 crimes and 2.6 violent per 1,000 residents (-4.8% YoY) in 2024(FBI UCR). Compare the state to the country, not states as a ranking — full Safety & Crime data lives on the state page.

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Tract-level hazard heatmap & parcel detail with Pro

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What Stands Out AI Insight

Appreciating market — +7.3% sale-price YoY

Highly walkable neighborhood — score 92/100

Tornado risk is Very High (100/100)

Heat risk is Very High (100/100)

Insights are generated from Prospect Park's live DistrictScore metrics.

Prospect Park Environment & Safety

Satellite PM2.5 air-quality history, FBI UCR crime trend (Minnesota-level, the finest official aggregation), EPA radon potential and point-source hazard screening.

Air Quality — PM2.5

2015–2024

7.5 µg/m³ Meets EPA, above WHO guideline-1.7% since 2015

EPA 9WHO 5

20152024

Annual mean fine-particle (PM2.5) concentration at the Prospect Park centroid, satellite-derived (ACAG). References: WHO guideline 5 µg/m³ · EPA annual standard 9 µg/m³. Latest year ranks worse than 91% of U.S. neighborhoods.

Minnesota Crime Trend

FBI UCR

20132024

All crimes / 1k

Violent / 1k

Year	Crimes / 1k	Violent / 1k	YoY
2024	18.6	2.6	-4.8%
2023	19.7	2.6	-12.3%
2022	22.6	2.8	-3.9%
2021	23.5	3.1	-1.1%
2020	24.0	2.8	+3.5%
2019	23.3	2.4	—

Reported at the state level — the finest official US crime aggregation; Prospect Park inherits the Minnesota figures.

Radon Potential

EPA

Zone 1

Zone 1 — Highest potential · Prospect Park

EPA radon zones estimate indoor radon potential county-wide (Zone 1 highest, Zone 3 lowest). Testing is recommended in all zones.

Environmental Hazards

EPA / BTS

Superfund (NPL)0.9 kmVery High

Industrial odor27 nearbyVery High

Point-source screening near Prospect Park: EPA Superfund National Priorities List & Facility Registry (2026), BTS aviation noise (2020, 24-hour average level). Superfund shows distance to the nearest listed site; odor shows detected sources within the screening radius. Only detected sources are listed; the bar shows severity vs. all U.S. neighborhoods.

Walkability & Amenities in Prospect Park

Amenity density and pedestrian access from OpenStreetMap points of interest.

Walkability & Amenities

OpenStreetMap POI

92

Walker's Paradise

Walkability Score

4

Grocery

42

Dining

2

Schools

1

Universities

11

Hospitals

4

Pharmacies

14

Parks

4

Rail Transit

1

Coworking

POI counts are amenities within Prospect Park's boundary plus a 400 m walk buffer. Rail transit excludes bus stops.

Prospect Park vs Minneapolis vs Minnesota

How Prospect Park benchmarks against its city and state medians.

Benchmark vs City & State

In Prospect Park, the median sale price sits about 5% above the median for Minneapolis neighborhoods and about 20% above the statewide median. Gross rental yield is 5.0%, against 5.4% for Minneapolis neighborhoods and 5.5% statewide. Over the past 12 months, prices rose 7.3%. Transaction liquidity sits below the median for Minneapolis neighborhoods and below the statewide median.

Area	Median / Sq Ft	Gross Yield	Liquidity
Prospect Park	$250/sqft	5.0%	18
Minneapolis	$237/sqft	5.4%	32
Minnesota	$209/sqft	5.5%	32

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Buying Property in the US as a Foreigner

Federal & Minnesota tax facts for non-resident buyers, plus the latest local market news.

Buying as a Foreigner

US Tax & Ownership

Applies to everyone7

Capital Gains (Federal)

Long-term capital gains taxed federally at 0/15/20%, plus a 3.8% Net Investment Income Tax on higher incomes (2026).

Property Tax

Property tax: ~0.99% average effective rate (statewide average; set and collected locally).

State Income Tax

State income tax up to 9.85%; rental income is taxed at these rates.

State Capital Gains

Capital gains are taxed as ordinary income at state rates.

Transfer Tax

Real estate transfer tax: deed tax 0.33%.

Assessment Cap

No Proposition 13-style assessment cap; property is reassessed at market value.

Mansion Tax / Rent Control

No statewide mansion tax or statewide rent control.

US citizens & tax residents7

Primary-Home Exclusion

Selling your main home: exclude up to $250k of gain (single) / $500k (married) if you owned and lived there 2 of the last 5 years.

1031 Like-Kind Exchange

A 1031 like-kind exchange defers capital gains tax on investment property; 45 days to identify, 180 to close. Real estate only.

Depreciation Recapture

Residential rentals depreciate over 27.5 years; on sale, recaptured depreciation is taxed up to 25% (Section 1250).

Mortgage Interest Deduction

Mortgage interest is deductible on up to $750k of home debt. The SALT cap rose to $40,000 for 2025-2029 (reverts to $10k in 2030).

Opportunity Zones

Opportunity Zones are now permanent (2025): reinvested capital gains get deferral plus a basis step-up, and are tax-free after 10 years.

Rental Income (Resident)

Rental income is reported on Schedule E; passive-loss rules (Section 469) limit deducting rental losses against other income.

1031 State Conformity

The state conforms to the federal 1031 like-kind exchange rules.

Foreign buyers (non-residents)5

FIRPTA (Foreign Sellers)

FIRPTA: the buyer withholds 15% of the gross sale price when a nonresident sells US property. It is an advance deposit, not the final tax.

Non-Resident Capital Gains

Nonresident sellers pay US capital gains tax (generally 15-20%) on the net gain via Form 1040-NR; FIRPTA withholding is credited.

Non-Resident Rental Tax

Nonresident rental income is taxed at 30% of gross by default, or on net income at graduated rates via a Section 871(d) election (W-8ECI).

Estate Tax (Non-Resident)

Nonresidents get only a $60,000 US estate-tax exemption (vs $13.99M for residents); US property above it is taxed up to 40%. Treaties may help.

ITIN Requirement

Nonresidents without an SSN need an ITIN (Form W-7) to file US tax returns, claim FIRPTA refunds, and report rental income.

Talk to a US real-estate tax advisor

FIRPTA, ITIN & Minnesota property-tax guidance for foreign buyers

Latest Minneapolis Real-Estate News

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Guaranteed Rate • Jun 18, 2026

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Eye On Housing • Jun 18, 2026

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Altus Group • Jun 18, 2026

Prospect Park Real Estate FAQ

Prospect Park in Minneapolis, Minnesota has a gross yield of 5.0 and prices about 5% above Minneapolis and about 16% above Minnesota. The Red Flag score is 62, prices are up 7.3% over the past year, and walkability is 92.

Neighborhoods near Prospect Park

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