Savage is younger than most of the metro, which means a slightly different mortgage conversation, more first-time buyers, more move-up families, more construction loans. But there's also a growing pocket of long-tenured owners from the first wave of 1990s and early-2000s development who are now looking at reverse mortgage options.
The Savage housing market
Median home values in Savage sit in the low-$400s, with newer construction and lake-adjacent homes climbing higher. Scott County property taxes are among the most reasonable in the metro.
Reverse mortgages in Savage
Long-term Savage homeowners with paid-down mortgages can use a HECM line of credit as a stand-by retirement bucket, a resource that grows tax-free and stays available without required monthly repayment.
Neighborhoods
- Prior Lake Border
- Boone Avenue Corridor
- Hidden Valley
- Dan Patch
- O'Connell
Loan options for Savage
- Conventional Move-Up
- First-Time Buyer
- Reverse Mortgage (HECM)
- HECM for Purchase
- VA & FHA
- Refinance
Attractions & landmarks
- Hidden Valley Sports Complex
- Murphy-Hanrehan Park Reserve
- Community Park
- Prior Lake (nearby)
Schools
Primarily served by ISD 191 (Burnsville-Eagan-Savage), with parts of the city zoned into Prior Lake–Savage Area Schools (ISD 719).