Big Lake, MN—55309
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Big Lake, MN
As of Oct '25, the median home price in Big Lake, MN is $365,000, with a year-over-year change of 1.7%. This indicates that home prices in Big Lake, MN are increasing. According to Zillow, the 1-year price projection is -0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $365,000 | 1.7% |
| Single Family | $366,000 | 1.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $219,000 | 2.8% |
2 Bed | $297,000 | 2.4% |
3 Bed | $360,000 | 1.7% |
4 Bed | $393,000 | 1.8% |
| 5 Bed | $465,000 | 2.2% |
% of Housing Stock
Rental Trends — Big Lake, MN
As of July '25, Rentcast reports the average rent in Big Lake, MN is $1,420, with a year-over-year rent change of -24.1%. Per bedroom, the median rent as of July '25 in Big Lake, MN is 1-bedrooms: $1,060, 2-bedrooms: $1,590, 3-bedrooms: $1,900. The most common rental property sizes in Big Lake, MN are 2-bedroom and 3-bedroom, accounting for 38.6% and 28.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,420 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,040 | $1,060 |
| 2 Bed Rent | $1,520 | $1,590 |
| 3 Bed Rent | $1,900 | $1,900 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Big Lake, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Big Lake, MN is 41. This is a decrease of -25.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $390,000 | -9.0% |
Listing Count | 82 | -3.0% |
| Listings as % of Homes | 0.7% | -3.0% |
Days on Market | 41 | -25.0% |
Demographics — Big Lake, MN
As of the latest ACS Survey released in 2023, Big Lake, MN has a population of 21,400, which has increased by 13.3% over the past 5 years. Big Lake, MN is a popular place for families, as children make up 26.5% of the population. The area has a moderately educated workforce, with 31.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,400 | 13.3% |
% Under 18 | 26.5% | -10.5% |
% Seniors | 8.5% | 2.4% |
% WFH | 11.4% | 52.0% |
% w/ College Degree | 31.2% | 1.6% |
As of the latest ACS Survey released in 2023, Big Lake, MN is a predominantly white area, with 89.5% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Big Lake, MN is hispanic, making up 4.5% of the population. Foreign-born residents account for 2.6% of the population in Big Lake, MN, and this percentage has decreased by 3.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.5% | -2.2% |
% Black | 1.9% | 280.0% |
% Hispanic | 4.5% | -15.1% |
% Asian | 0.8% | -11.1% |
% Foreign Born | 2.6% | -3.7% |
Mortgage and Risk — Big Lake, MN
According to HUD data as of 2023, there were 593 mortgage originations in Big Lake, MN, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Big Lake, MN. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 593 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Big Lake, MN
Big Lake, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 23 |
Total Units Section 8 | 23 |
% Rentals under Section 8 | 3.3% |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $360 | $1,040 | $1,400 |
| 2 Bedroom | $190 | $1,520 | $1,710 |
| 3 Bedroom | $380 | $1,900 | $2,280 |
| 4 Bedroom | N/A | N/A | $2,550 |
Affordability — Big Lake, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $365,000 |
| Median Household Income | $118,000 |