Eveleth, MN—55734
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Eveleth, MN
As of Oct '25, the median home price in Eveleth, MN is $160,000, with a year-over-year change of 0.7%. This indicates that home prices in Eveleth, MN are flat. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $160,000 | 0.7% |
| Single Family | $159,000 | 1.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $146,000 | 2.8% |
3 Bed | $196,000 | 4.3% |
4 Bed | $206,000 | 5.6% |
| 5 Bed | $148,000 | 0.7% |
% of Housing Stock
Rental Trends — Eveleth, MN
As of July '25, Rentcast reports the average rent in Eveleth, MN is $933, with a year-over-year rent change of 7.0%. Per bedroom, the median rent as of July '25 in Eveleth, MN is 1-bedrooms: $885, 2-bedrooms: $997. The most common rental property sizes in Eveleth, MN are 1-bedroom and 2-bedroom, accounting for 36.5% and 35.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $997 | $933 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $847 | $885 |
| 2 Bed Rent | $997 | $997 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Eveleth, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Eveleth, MN is 74. This is a increase of 35.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $207,000 | 2.0% |
Listing Count | 33 | -6.0% |
| Listings as % of Homes | 0.5% | -6.0% |
Days on Market | 74 | 35.0% |
Demographics — Eveleth, MN
As of the latest ACS Survey released in 2023, Eveleth, MN has a population of 6,330, which has increased by 5.7% over the past 5 years. Eveleth, MN is a moderately popular place for families, as children make up 23.3% of the population. The area has a moderately educated workforce, with 25.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,330 | 5.7% |
% Under 18 | 23.3% | 28.0% |
% Seniors | 17.5% | -15.0% |
% WFH | 2.5% | -16.7% |
% w/ College Degree | 25.5% | -6.2% |
As of the latest ACS Survey released in 2023, Eveleth, MN is a predominantly white area, with 93.0% of the population identifying as white. The white population has shrunk by 4.4% in the last 5 years. The second most common race or ethnicity in Eveleth, MN is black, making up 1.4% of the population. Foreign-born residents account for 1.6% of the population in Eveleth, MN, and this percentage has increased by 128.6% 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 | 93.0% | -4.4% |
% Black | 1.4% | 1,300.0% |
% Hispanic | 0.6% | 50.0% |
% Asian | 0.1% | 0.0% |
% Foreign Born | 1.6% | 128.6% |
Mortgage and Risk — Eveleth, MN
According to HUD data as of 2023, there were 90 mortgage originations in Eveleth, MN, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Eveleth, MN. Investor activity is low, as 3.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 90 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 3.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Eveleth, MN
Eveleth, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 140 |
Total Units Section 8 | 106 |
% Rentals under Section 8 | 17.8% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$57 | $847 | $790 |
| 2 Bedroom | $13 | $997 | $1,010 |
| 3 Bedroom | N/A | N/A | $1,350 |
| 4 Bedroom | N/A | N/A | $1,710 |
Affordability — Eveleth, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $160,000 |
| Median Household Income | $65,800 |