Saint Michael, MN—55376
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Saint Michael, MN
As of Oct '25, the median home price in Saint Michael, MN is $429,000, with a year-over-year change of 1.3%. This indicates that home prices in Saint Michael, MN are increasing. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $429,000 | 1.3% |
| Single Family | $430,000 | 1.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $322,000 | 2.2% |
3 Bed | $389,000 | 1.8% |
4 Bed | $463,000 | 1.5% |
| 5 Bed | $528,000 | 0.0% |
% of Housing Stock
Rental Trends — Saint Michael, MN
As of July '25, Rentcast reports the average rent in Saint Michael, MN is $1,980, with a year-over-year rent change of 2.1%. Per bedroom, the median rent as of July '25 in Saint Michael, MN is studios: $1,410, 1-bedrooms: $1,480, 2-bedrooms: $1,870, 3-bedrooms: $2,520, 4-bedrooms: $2,550. The most common rental property sizes in Saint Michael, MN are 2-bedroom and 4-bedroom, accounting for 47.3% and 28.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,880 | $1,980 |
| Studio Rent | $1,440 | $1,410 |
| 1 Bed Rent | $1,450 | $1,480 |
| 2 Bed Rent | $1,880 | $1,870 |
| 3 Bed Rent | $2,500 | $2,520 |
| 4 Bed Rent | $2,600 | $2,550 |
% of Rental Stock
Property Listings — Saint Michael, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Saint Michael, MN is 29. This is a decrease of -8.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $454,000 | -8.0% |
Listing Count | 164 | -5.0% |
| Listings as % of Homes | 1.5% | -5.0% |
Days on Market | 29 | -8.0% |
Demographics — Saint Michael, MN
As of the latest ACS Survey released in 2023, Saint Michael, MN has a population of 19,300, which has increased by 11.9% over the past 5 years. Saint Michael, MN is a popular place for families, as children make up 28.8% of the population. The area has a moderately educated workforce, with 44.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,300 | 11.9% |
% Under 18 | 28.8% | -15.5% |
% Seniors | 9.4% | 30.6% |
% WFH | 15.8% | 222.4% |
% w/ College Degree | 44.3% | 14.2% |
As of the latest ACS Survey released in 2023, Saint Michael, MN is a predominantly white area, with 86.7% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Saint Michael, MN is black, making up 4.0% of the population. Foreign-born residents account for 3.8% of the population in Saint Michael, MN, and this percentage has decreased by 17.4% 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 | 86.7% | -2.6% |
% Black | 4.0% | -2.4% |
% Hispanic | 2.7% | 12.5% |
% Asian | 2.6% | -16.1% |
% Foreign Born | 3.8% | -17.4% |
Mortgage and Risk — Saint Michael, MN
According to HUD data as of 2023, there were 660 mortgage originations in Saint Michael, MN, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Saint Michael, MN. Investor activity is low, as 1.0% 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 | 660 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Saint Michael, MN
As of 2024, the percent of homes in Saint Michael, MN under the Section 8 program is 3.5%. 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 Saint Michael, MN, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 20 |
Total Units Section 8 | 20 |
% Rentals under Section 8 | 3.5% |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$230 | $1,450 | $1,220 |
| 2 Bedroom | -$390 | $1,880 | $1,490 |
| 3 Bedroom | -$520 | $2,500 | $1,980 |
| 4 Bedroom | -$360 | $2,600 | $2,240 |
Affordability — Saint Michael, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $429,000 |
| Median Household Income | $131,000 |