Shakopee · First-Time Buyers
Your First Home in Shakopee
Learn how buying works before you shop, explained in plain words, so you know what you're signing.
Buying your first home in Shakopee
Shakopee has older homes near its historic downtown and newer homes in subdivisions built after 1995, so a first-time buyer has more than one kind of home to compare. I'm Lesley, a REALTOR® with Bridge Realty, and we help you check the numbers first.
Can a first-time buyer afford Shakopee? It depends on the home. The Census survey for 2020 to 2024 put the median owner-occupied home value at $374,800, but that is a survey figure, not today's prices. We pull recent sales so you see what homes in your range actually cost.
Ask Me Your First Question
What first-time buyers should check in Shakopee
- The full monthly cost. Your payment includes property taxes and insurance, plus association dues if the home has them. Look up the taxes in the Scott County property records for any home you like.
- The age of the home. An older home may cost less to buy and more to update. A newer one may have an association. We weigh both with you.
- The flood map. Near the Minnesota River, flood insurance can change your monthly cost. We check it before you offer.
- Your commute. Highway 169 and County Highway 101 run through the city, and MVTA buses serve Shakopee with park-and-ride service.
What it costs, and the help available
Plan for four costs: earnest money with your offer, the inspection, your down payment, and closing costs. Down payments are often far less than 20 percent, and assistance may be available if you qualify. A lender can also give you a plan if your credit needs work. Our first-time buyer page walks through each cost, and getting ready covers pre-approval. Comparing with a nearby city? See Lakeville.
Ask us your first question about Shakopee
You do not have to be ready to buy. Bring your questions, and you will leave with a plan. More on the city is on our Shakopee page, and the steps are on how we help buyers.
Send us a message or call (651) 661-4770.
Frequently Asked Questions
How much do I need for a down payment in Shakopee?
Often less than 20 percent. Some loans allow as little as 3 percent down, and assistance may be available if you qualify.
Do property taxes affect how much I can borrow?
Yes. Lenders count property taxes and insurance in your monthly housing cost. You can look up a Shakopee home's taxes in the Scott County property records.
Is there public transit in Shakopee?
Yes. The Minnesota Valley Transit Authority serves Shakopee with park-and-ride service, and MVTA Connect offers rides within parts of Shakopee and Prior Lake.
Get your home plan
Tell Us About The Home You Want
Homes For Sale In Shakopee
See every home on the market in Shakopee right now, updated from the MLS.
Shakopee
What first-time buyers looks like in Shakopee
Shakopee is the Scott County seat, set along the Minnesota River, with a historic downtown, more than 1,100 acres of parks and open space, and Valleyfair and Canterbury Park.
Shakopee has grown fast since the Bloomington Ferry Bridge opened in 1995, and we help buyers and sellers compare its older and newer neighborhoods.
- The homes
- A historic downtown along the Minnesota River, with much of the city built after the Bloomington Ferry Bridge opened in 1995. New residential development is still under way.
- Schools people ask about
- Shakopee Public Schools serves the city, along with Savage, Prior Lake, and three townships. Confirm the schools for any address with the district.
- Getting around
- U.S. Highway 169 and County Highway 101 run through the city, and the Bloomington Ferry Bridge crosses the Minnesota River toward Bloomington.
- Nearby
- More than 1,100 acres of parks and open space, including Quarry Lake Park and Huber Park on the river downtown.
- The trade-off
- Downtown sits on the Minnesota River, which has flooded before, including in 1965, so check the flood map for any home near the river.
First-Time Buyers: keep exploring
Ready to make your move with Lesley The Realtor?