Cloquet, MN—55720
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cloquet, MN
As of Oct '25, the median home price in Cloquet, MN is $267,000, with a year-over-year change of 1.9%. This indicates that home prices in Cloquet, MN are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $267,000 | 1.9% |
| Single Family | $267,000 | 2.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $223,000 | 3.7% |
3 Bed | $287,000 | 2.9% |
4 Bed | $338,000 | 3.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Cloquet, MN
As of July '25, Rentcast reports the average rent in Cloquet, MN is $1,900, with a year-over-year rent change of 43.9%. Per bedroom, the median rent as of July '25 in Cloquet, MN is 1-bedrooms: $960, 2-bedrooms: $1,480, 3-bedrooms: $1,850, 4-bedrooms: $3,350. The most common rental property sizes in Cloquet, MN are 2-bedroom and 1-bedroom, accounting for 44.9% and 19.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $1,900 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $960 | $960 |
| 2 Bed Rent | $1,480 | $1,480 |
| 3 Bed Rent | $1,750 | $1,850 |
| 4 Bed Rent | $3,350 | $3,350 |
% of Rental Stock
Property Listings — Cloquet, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Cloquet, MN is 19. This is a decrease of -30.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $308,000 | -12.0% |
Listing Count | 42 | -18.0% |
| Listings as % of Homes | 0.2% | -18.0% |
Days on Market | 19 | -30.0% |
Demographics — Cloquet, MN
As of the latest ACS Survey released in 2023, Cloquet, MN has a population of 17,500, which has increased by 3.1% over the past 5 years. Cloquet, MN is a moderately popular place for families, as children make up 24.6% of the population. The area has a poorly educated workforce, with 24.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,500 | 3.1% |
% Under 18 | 24.6% | -2.0% |
% Seniors | 16.6% | 9.9% |
% WFH | 7.2% | 94.6% |
% w/ College Degree | 24.9% | 13.7% |
As of the latest ACS Survey released in 2023, Cloquet, MN is a predominantly white area, with 82.6% of the population identifying as white. The white population has grown by 1.3% in the last 5 years. The second most common race or ethnicity in Cloquet, MN is hispanic, making up 2.3% of the population. Foreign-born residents account for 0.9% of the population in Cloquet, MN, and this percentage has decreased by 35.7% 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 | 82.6% | 1.3% |
% Black | 0.7% | -41.7% |
% Hispanic | 2.3% | 4.5% |
% Asian | 0.5% | -28.6% |
% Foreign Born | 0.9% | -35.7% |
Mortgage and Risk — Cloquet, MN
According to HUD data as of 2023, there were 293 mortgage originations in Cloquet, MN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Cloquet, MN. Investor activity is low, as 3.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 293 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Cloquet, MN
As of 2024, the percent of homes in Cloquet, MN under the Section 8 program is 12.4%. 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 Cloquet, 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 | 330 |
Total Units Section 8 | 256 |
% Rentals under Section 8 | 12.4% |
% Occupied Section 8 | 78.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $960 | $950 |
| 2 Bedroom | -$270 | $1,480 | $1,210 |
| 3 Bedroom | -$120 | $1,750 | $1,630 |
| 4 Bedroom | -$1,320 | $3,350 | $2,030 |
Affordability — Cloquet, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $267,000 |
| Median Household Income | $66,400 |