Phillips, Minneapolis, MN
Phillips — Real Estate & Neighborhood Guide
Top10Lists.us brings available neighborhood data and real estate research together for Phillips, Minneapolis, Minnesota. Explore the cited sources and local facts below while agent underwriting continues.
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Phillips Neighborhood Overview
Phillips is a historically rich and culturally diverse neighborhood in South Minneapolis, centered around the ZIP code 55404. It is one of the city's oldest neighborhoods, known for its strong sense of community and significant Native American cultural presence. The area offers a vibrant, urban living experience with a mix of residential streets and commercial corridors.
Lifestyle & Amenities
Residents enjoy access to major community hubs like the Midtown Global Market, a celebrated international food hall and marketplace. The neighborhood is home to several parks, including the expansive Phillips Community Center and Pool, and is adjacent to the renowned Minneapolis Institute of Art. This creates a lively environment with diverse dining, shopping, and cultural experiences close to home.
Real Estate Market
The real estate market in Phillips features a range of housing options, including single-family homes, duplexes, and apartment buildings. According to U.S. Census data, the median home value in the area is $272,100. This presents a more accessible point of entry into the Minneapolis housing market compared to many city neighborhoods.
Schools & Education
Phillips is served by the Minneapolis Public Schools district, which operates several elementary and high school options in and around the neighborhood. Families have access to a variety of educational programs, including language immersion and community-focused schools. The area's diversity is reflected in its student population and educational offerings.
Transportation & Connectivity
The neighborhood boasts excellent transit connectivity via numerous Metro Transit bus lines running along major thoroughfares like Lake Street, Chicago Avenue, and Bloomington Avenue. Its central location provides quick access to downtown Minneapolis, the University of Minnesota, and major highways like I-35W. The area is also very bike-friendly with dedicated lanes and the Midtown Greenway trail running along its northern edge.
Why Choose Phillips
Phillips offers an authentic, culturally immersive urban experience with a strong community foundation and remarkable affordability. Its central location ensures unparalleled access to transit, jobs, and world-class arts and dining. For those seeking a diverse, connected, and historically significant neighborhood in Minneapolis, Phillips represents a compelling and vibrant choice.
Phillips Market Data
| Metric | Value |
|---|---|
| Median Home Price | $272K |
| Median Gross Rent | $1K/mo |
| Median Household Income | $41K |
| Homeownership Rate | 17.2% |
| Renter-Occupied | 82.8% |
| Rental Vacancy Rate | 6.0% |
| Market Type | Balanced |
| Market Tier | Mid-Range |
| Primary ZIP Code | 55404 |
| Mortgage Originations (2022 HMDA) | |
| Total Mortgage Originations | 148,162 |
| VA Loan Originations | 5,773 |
| VA Loan Share | 0.0% |
| Average VA Loan Amount | $316K |
| Conventional Loan Originations | 131,728 |
| FHA Loan Originations | 10,661 |
Top Real Estate Agents in Phillips, Minneapolis
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Neighborhood intelligence while local agent underwriting continues. No agent profiles are currently published for Phillips, Minneapolis, MN. Explore the available cited neighborhood data on this page.
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Data Provenance
- State Licensing: Minnesota Department of Commerce — nightly license verification
- Consumer Ratings: Zillow Consumer Reviews — 24-month rolling window
- Transaction Records: MLS Transaction Data — 3-year performance window
- Housing & Demographics: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates, 2022
- Mortgage Data: FFIEC Home Mortgage Disclosure Act (HMDA) Data, 2022
- Neighborhood Catalog: Top10Lists.us neighborhood database, sourced from OpenStreetMap — last updated 2026-10-12