Hastings, MN—55033
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hastings, MN
As of Oct '25, the median home price in Hastings, MN is $372,000, with a year-over-year change of 3.0%. This indicates that home prices in Hastings, MN are increasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $372,000 | 3.1% |
| Single Family | $379,000 | 3.3% |
| Condos | $172,000 | 1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $278,000 | 1.1% |
3 Bed | $355,000 | 2.9% |
4 Bed | $424,000 | 2.9% |
| 5 Bed | $527,000 | 2.3% |
% of Housing Stock
Rental Trends — Hastings, MN
As of July '25, Rentcast reports the average rent in Hastings, MN is $1,640, with a year-over-year rent change of -1.2%. Per bedroom, the median rent as of July '25 in Hastings, MN is studios: $1,280, 1-bedrooms: $1,140, 2-bedrooms: $1,460, 3-bedrooms: $2,000, 4-bedrooms: $1,700. The most common rental property sizes in Hastings, MN are 2-bedroom and 3-bedroom, accounting for 37.0% and 27.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,640 |
| Studio Rent | $1,220 | $1,280 |
| 1 Bed Rent | $1,190 | $1,140 |
| 2 Bed Rent | $1,220 | $1,460 |
| 3 Bed Rent | $1,880 | $2,000 |
| 4 Bed Rent | $1,700 | $1,700 |
% of Rental Stock
Property Listings — Hastings, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Hastings, MN is 32. This is a increase of 3.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $431,000 | 7.0% |
Listing Count | 83 | -29.0% |
| Listings as % of Homes | 0.5% | -29.0% |
Days on Market | 32 | 3.0% |
Demographics — Hastings, MN
As of the latest ACS Survey released in 2023, Hastings, MN has a population of 29,200, which has decreased by -2.7% over the past 5 years. Hastings, MN is a moderately popular place for families, as children make up 22.1% of the population. The area has a moderately educated workforce, with 30.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,200 | -2.7% |
% Under 18 | 22.1% | 2.8% |
% Seniors | 19.3% | 16.3% |
% WFH | 12.4% | 158.3% |
% w/ College Degree | 30.5% | 5.2% |
As of the latest ACS Survey released in 2023, Hastings, MN is a predominantly white area, with 87.5% of the population identifying as white. The white population has shrunk by 5.2% in the last 5 years. The second most common race or ethnicity in Hastings, MN is hispanic, making up 4.9% of the population. Foreign-born residents account for 2.0% of the population in Hastings, MN, and this percentage has increased by 11.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 87.5% | -5.2% |
% Black | 1.1% | -8.3% |
% Hispanic | 4.9% | 48.5% |
% Asian | 1.5% | 114.3% |
% Foreign Born | 2.0% | 11.1% |
Mortgage and Risk — Hastings, MN
According to HUD data as of 2023, there were 528 mortgage originations in Hastings, MN, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Hastings, MN. Investor activity is low, as 4.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 528 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Hastings, MN
As of 2024, the percent of homes in Hastings, MN under the Section 8 program is 10.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Hastings, MN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 267 |
Total Units Section 8 | 260 |
% Rentals under Section 8 | 10.3% |
% Occupied Section 8 | 94.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $1,190 | $1,220 |
| 2 Bedroom | $270 | $1,220 | $1,490 |
| 3 Bedroom | $100 | $1,880 | $1,980 |
| 4 Bedroom | $540 | $1,700 | $2,240 |
Affordability — Hastings, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $372,000 |
| Median Household Income | $102,000 |