Andover, MN

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Andover short-term rental market based on reliable data.

Listings

15 / 31

Reliable / Active

Cap Rate

8%

Middle-Earners Gross Yield

Revenue

$36,596

Middle-Earners Revenue

Occupancy

56%

Middle-Earners Occupancy

Home Value

$446,854

Median Home Sale Price

Top Earners

$80,832

Top-Earners Revenue

Andover

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Andover.

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C

Challenging to Investors

Andover Regulations

Short‑term rentals are legal, but they require a two‑year, non‑transferable rental housing license, interior/exterior inspections, insurance, a management plan, tax compliance, and in some cases septic or state lodging licenses; regulatory uncertainty persists as zoning updates are ongoing, creating moderate barriers and risk.

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About Andover

Andover is a suburban city in Anoka County, Minnesota, situated in the north-central part of the Twin Cities metropolitan area. With a population of roughly 32,000, it has grown steadily from a once-rural township into a well-established commuter community characterized by newer residential neighborhoods, wooded lots, and a relaxed pace that still benefits from quick access to the larger metro region. Andover lies approximately 25 miles north of downtown Minneapolis and is best understood as a quiet, family-friendly base from which visitors can reach both the natural landscapes of central Minnesota and the cultural and sporting attractions of the Twin Cities.

One of the area's most significant outdoor amenities is Bunker Hills Regional Park, a sprawling Anoka County park that stretches across the Andover and Coon Rapids area. It offers miles of paved and natural-surface trails suitable for walking, jogging, biking, and cross-country skiing in winter, along with a disc golf course, picnic areas, and a popular regional golf course. The park is only a short drive from most parts of Andover and provides a convenient taste of Minnesota's outdoors without leaving the suburbs.

The Rum River flows through the heart of Andover, giving the city a distinctive natural corridor that is unusual for a suburb of its size. Public accesses along the river allow residents and visitors to launch canoes and kayaks for a gentle paddle through wooded banks, and the Rum River State Water Trail extends well beyond the city limits, connecting paddlers to a broader network of routes through central Minnesota. Its presence shapes much of the city's recreational identity and adds a quiet, scenic element to the surrounding neighborhoods.

Just to the south of Andover lies the city of Anoka, a historic river town long known as the self-proclaimed Halloween Capital of the World. Its annual Anoka Halloween celebration, dating back to 1920, draws visitors each October with parades, costumes, and community events, while the city's preserved downtown offers antique shops, restaurants, and riverfront views year-round. From Andover, reaching downtown Anoka typically takes only about 10 to 15 minutes by car.

A short drive south also brings travelers into the heart of Minneapolis and Saint Paul, where major league sporting venues, the Mississippi Riverfront, museums, theaters, and a celebrated restaurant scene await. Andover's appeal as a short-term rental base lies in this balance: it offers a calm, suburban setting with genuine outdoor recreation on its doorstep, while keeping the broader offerings of the Twin Cities within a roughly 30-minute drive.

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