Montrose, MN—55363
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Montrose, MN
As of Oct '25, the median home price in Montrose, MN is $317,000, with a year-over-year change of 3.5%. This indicates that home prices in Montrose, MN are increasing. According to Zillow, the 1-year price projection is -0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $317,000 | 3.5% |
| Single Family | $318,000 | 3.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $256,000 | 3.6% |
3 Bed | $318,000 | 2.9% |
4 Bed | $337,000 | 3.4% |
| 5 Bed | $376,000 | 3.0% |
% of Housing Stock
Rental Trends — Montrose, MN
As of July '25, Rentcast reports the average rent in Montrose, MN is $1,770, with a year-over-year rent change of -14.1%. Per bedroom, the median rent as of July '25 in Montrose, MN is 1-bedrooms: $800, 2-bedrooms: $1,350, 3-bedrooms: $2,160, 4-bedrooms: $2,000. The most common rental property sizes in Montrose, MN are 3-bedroom and 2-bedroom, accounting for 45.8% and 22.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,940 | $1,770 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $800 | $800 |
| 2 Bed Rent | $1,350 | $1,350 |
| 3 Bed Rent | $2,200 | $2,160 |
| 4 Bed Rent | $2,000 | $2,000 |
% of Rental Stock
Property Listings — Montrose, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Montrose, MN is 48. This is a increase of 54.0% 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 | $396,000 | 22.0% |
Listing Count | 37 | 110.0% |
| Listings as % of Homes | 0.3% | 110.0% |
Days on Market | 48 | 54.0% |
Demographics — Montrose, MN
As of the latest ACS Survey released in 2023, Montrose, MN has a population of 5,660, which has increased by 17.8% over the past 5 years. Montrose, MN is a popular place for families, as children make up 31.4% of the population. The area has a poorly educated workforce, with 24.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,660 | 17.8% |
% Under 18 | 31.4% | -0.9% |
% Seniors | 8.7% | -3.3% |
% WFH | 8.3% | 102.4% |
% w/ College Degree | 24.1% | 18.1% |
As of the latest ACS Survey released in 2023, Montrose, MN is a predominantly white area, with 81.3% of the population identifying as white. The white population has shrunk by 10.6% in the last 5 years. The second most common race or ethnicity in Montrose, MN is hispanic, making up 11.4% of the population. Foreign-born residents account for 4.3% of the population in Montrose, MN, and this percentage has increased by 34.4% 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 | 81.3% | -10.6% |
% Black | 0.1% | -90.0% |
% Hispanic | 11.4% | 147.8% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 4.3% | 34.4% |
Mortgage and Risk — Montrose, MN
According to HUD data as of 2023, there were 211 mortgage originations in Montrose, MN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Montrose, MN. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 211 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Montrose, MN
As of 2024, the percent of homes in Montrose, MN under the Section 8 program is 0.2%. 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. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Montrose, MN, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 0.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $430 | $800 | $1,230 |
| 2 Bedroom | $150 | $1,350 | $1,500 |
| 3 Bedroom | -$200 | $2,200 | $2,000 |
| 4 Bedroom | $240 | $2,000 | $2,240 |
Affordability — Montrose, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $317,000 |
| Median Household Income | $98,300 |