Two Harbors, MN—55616
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Two Harbors, MN
As of Oct '25, the median home price in Two Harbors, MN is $282,000, with a year-over-year change of 0.3%. This indicates that home prices in Two Harbors, MN are flat. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $282,000 | 0.3% |
| Single Family | $285,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $181,000 | -1.6% |
2 Bed | $258,000 | 0.4% |
3 Bed | $322,000 | 0.0% |
4 Bed | $344,000 | 0.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Two Harbors, MN
As of July '25, Rentcast reports the average rent in Two Harbors, MN is $600, with a year-over-year rent change of -83.2%. Per bedroom, the median rent as of July '25 in Two Harbors, MN is 4-bedrooms: $600. The most common rental property sizes in Two Harbors, MN are 2-bedroom and 1-bedroom, accounting for 52.1% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $600 | $600 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $600 | $600 |
% of Rental Stock
Property Listings — Two Harbors, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Two Harbors, MN is 81. This is a increase of 59.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $322,000 | 2.0% |
Listing Count | 80 | 62.0% |
| Listings as % of Homes | 0.4% | 62.0% |
Days on Market | 81 | 59.0% |
Demographics — Two Harbors, MN
As of the latest ACS Survey released in 2023, Two Harbors, MN has a population of 7,280, which has increased by 5.7% over the past 5 years. Two Harbors, MN is a moderately popular place for families, as children make up 21.7% of the population. The area has a poorly educated workforce, with 24.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,280 | 5.7% |
% Under 18 | 21.7% | 8.5% |
% Seniors | 21.7% | -1.4% |
% WFH | 11.2% | 83.6% |
% w/ College Degree | 24.2% | -12.0% |
As of the latest ACS Survey released in 2023, Two Harbors, MN is a predominantly white area, with 95.4% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Two Harbors, MN is hispanic, making up 1.3% of the population. Foreign-born residents account for 0.5% of the population in Two Harbors, MN, and this percentage has decreased by 64.3% 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 | 95.4% | -1.3% |
% Black | 0.5% | -44.4% |
% Hispanic | 1.3% | 44.4% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.5% | -64.3% |
Mortgage and Risk — Two Harbors, MN
According to HUD data as of 2023, there were 174 mortgage originations in Two Harbors, MN, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Two Harbors, MN. Investor activity is low, as 3.0% of loans were by investors. 28.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 174 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 3.0% |
% Second Loans | 10.0% |
% Cash Out Refinance | 28.0% |
Loan Activity
Rentals and Section 8 — Two Harbors, MN
Two Harbors, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 142 |
Total Units Section 8 | 84 |
% Rentals under Section 8 | 14.4% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $990 |
| 2 Bedroom | N/A | N/A | $1,300 |
| 3 Bedroom | N/A | N/A | $1,570 |
| 4 Bedroom | $1,580 | $600 | $2,180 |
Affordability — Two Harbors, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $282,000 |
| Median Household Income | $77,200 |