Northfield, MN—55057
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Northfield, MN
As of Oct '25, the median home price in Northfield, MN is $383,000, with a year-over-year change of 4.3%. This indicates that home prices in Northfield, MN are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $383,000 | 4.3% |
| Single Family | $388,000 | 4.3% |
| Condos | $244,000 | 4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $339,000 | 6.6% |
2 Bed | $311,000 | 4.0% |
3 Bed | $374,000 | 4.5% |
4 Bed | $464,000 | 4.3% |
| 5 Bed | $526,000 | 3.7% |
% of Housing Stock
Rental Trends — Northfield, MN
As of July '25, Rentcast reports the average rent in Northfield, MN is $1,360, with a year-over-year rent change of -2.9%. Per bedroom, the median rent as of July '25 in Northfield, MN is studios: $1,220, 1-bedrooms: $1,100, 2-bedrooms: $1,390, 3-bedrooms: $1,880. The most common rental property sizes in Northfield, MN are 2-bedroom and 1-bedroom, accounting for 43.6% and 33.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,220 | $1,360 |
| Studio Rent | $1,400 | $1,220 |
| 1 Bed Rent | $1,020 | $1,100 |
| 2 Bed Rent | $1,350 | $1,390 |
| 3 Bed Rent | $1,820 | $1,880 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Northfield, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Northfield, MN is 51. This is a decrease of -6.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $468,000 | 7.0% |
Listing Count | 96 | 30.0% |
| Listings as % of Homes | 0.4% | 30.0% |
Days on Market | 51 | -6.0% |
Demographics — Northfield, MN
As of the latest ACS Survey released in 2023, Northfield, MN has a population of 25,500, which has increased by 1.5% over the past 5 years. Northfield, MN is a moderately popular place for families, as children make up 18.2% of the population. The area has a highly educated workforce, with 48.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,500 | 1.5% |
% Under 18 | 18.2% | -4.7% |
% Seniors | 16.4% | 12.3% |
% WFH | 19.5% | -32.8% |
% w/ College Degree | 48.9% | 11.6% |
As of the latest ACS Survey released in 2023, Northfield, MN is a predominantly white area, with 79.8% of the population identifying as white. The white population has shrunk by 6.6% in the last 5 years. The second most common race or ethnicity in Northfield, MN is hispanic, making up 11.0% of the population. Foreign-born residents account for 8.7% of the population in Northfield, MN, and this percentage has increased by 29.9% 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 | 79.8% | -6.6% |
% Black | 1.9% | -9.5% |
% Hispanic | 11.0% | 48.6% |
% Asian | 3.7% | 37.0% |
% Foreign Born | 8.7% | 29.9% |
Mortgage and Risk — Northfield, MN
According to HUD data as of 2023, there were 431 mortgage originations in Northfield, MN, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Northfield, MN. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 431 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Northfield, MN
Northfield, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 415 |
Total Units Section 8 | 365 |
% Rentals under Section 8 | 17.1% |
% Occupied Section 8 | 81.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $180 | $1,020 | $1,200 |
| 2 Bedroom | $110 | $1,350 | $1,460 |
| 3 Bedroom | $150 | $1,820 | $1,970 |
| 4 Bedroom | N/A | N/A | $2,240 |
Affordability — Northfield, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $383,000 |
| Median Household Income | $97,500 |