Red Wing, MN—55066
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Red Wing, MN
As of Oct '25, the median home price in Red Wing, MN is $285,000, with a year-over-year change of 4.0%. This indicates that home prices in Red Wing, 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 | $285,000 | 4.0% |
| Single Family | $287,000 | 4.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $229,000 | 3.2% |
3 Bed | $282,000 | 4.1% |
4 Bed | $358,000 | 4.1% |
| 5 Bed | $429,000 | 4.6% |
% of Housing Stock
Rental Trends — Red Wing, MN
As of July '25, Rentcast reports the average rent in Red Wing, MN is $1,060, with a year-over-year rent change of -26.4%. Per bedroom, the median rent as of July '25 in Red Wing, MN is studios: $1,040, 1-bedrooms: $890, 2-bedrooms: $1,130, 3-bedrooms: $1,440. The most common rental property sizes in Red Wing, MN are 2-bedroom and 1-bedroom, accounting for 37.4% and 35.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,030 | $1,060 |
| Studio Rent | $1,030 | $1,040 |
| 1 Bed Rent | $950 | $890 |
| 2 Bed Rent | $1,080 | $1,130 |
| 3 Bed Rent | $1,300 | $1,440 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Red Wing, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Red Wing, MN is 49. This is a increase of 39.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $325,000 | -3.0% |
Listing Count | 95 | 48.0% |
| Listings as % of Homes | 0.5% | 48.0% |
Days on Market | 49 | 39.0% |
Demographics — Red Wing, MN
As of the latest ACS Survey released in 2023, Red Wing, MN has a population of 19,100, which has increased by 5.1% over the past 5 years. Red Wing, MN is a moderately popular place for families, as children make up 20.8% of the population. The area has a moderately educated workforce, with 27.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,100 | 5.1% |
% Under 18 | 20.8% | -5.0% |
% Seniors | 20.3% | -3.3% |
% WFH | 8.1% | 88.4% |
% w/ College Degree | 27.2% | 9.7% |
As of the latest ACS Survey released in 2023, Red Wing, MN is a predominantly white area, with 86.8% of the population identifying as white. The white population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in Red Wing, MN is hispanic, making up 6.3% of the population. Foreign-born residents account for 3.6% of the population in Red Wing, MN, and this percentage has increased by 9.1% 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 | 86.8% | -1.8% |
% Black | 2.9% | 31.8% |
% Hispanic | 6.3% | 26.0% |
% Asian | 0.9% | 28.6% |
% Foreign Born | 3.6% | 9.1% |
Mortgage and Risk — Red Wing, MN
According to HUD data as of 2023, there were 243 mortgage originations in Red Wing, MN, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Red Wing, 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 | 243 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 4.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Red Wing, MN
Red Wing, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 500 |
Total Units Section 8 | 381 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 87.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$20 | $950 | $930 |
| 2 Bedroom | $20 | $1,080 | $1,100 |
| 3 Bedroom | $240 | $1,300 | $1,540 |
| 4 Bedroom | N/A | N/A | $1,850 |
Affordability — Red Wing, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $285,000 |
| Median Household Income | $70,500 |