Forbes, MN—55738
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Forbes, MN
As of Oct '25, the median home price in Forbes, MN is $190,000, with a year-over-year change of 2.4%. This indicates that home prices in Forbes, 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 | $190,000 | 2.4% |
| Single Family | $190,000 | 3.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $243,000 | 7.0% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Forbes, MN
Forbes, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| 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 | N/A | N/A |
% of Rental Stock
Property Listings — Forbes, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Forbes, MN is 73. This is a increase of 667.0% 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 100.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $148,000 | -48.0% |
Listing Count | 2 | 200.0% |
| Listings as % of Homes | 0.7% | 200.0% |
Days on Market | 73 | 667.0% |
Demographics — Forbes, MN
As of the latest ACS Survey released in 2023, Forbes, MN has a population of 584, which has increased by 8.8% over the past 5 years. Forbes, MN is a moderately popular place for families, as children make up 17.5% of the population. The area has a poorly educated workforce, with 15.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 584 | 8.8% |
% Under 18 | 17.5% | -9.8% |
% Seniors | 23.6% | 11.3% |
% WFH | 14.6% | 329.4% |
% w/ College Degree | 15.8% | 31.7% |
As of the latest ACS Survey released in 2023, Forbes, MN is a predominantly white area, with 94.2% of the population identifying as white. The white population has grown by 0.7% in the last 5 years. The second most common race or ethnicity in Forbes, MN is black, making up 0.9% of the population. Foreign-born residents account for 0.2% of the population in Forbes, MN, and this percentage has decreased by 71.4% 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 | 94.2% | 0.7% |
% Black | 0.9% | ∞% |
% Hispanic | 0.0% | -100.0% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.2% | -71.4% |
Mortgage and Risk — Forbes, MN
Forbes, MN lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Forbes, MN
Forbes, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 16.7% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $790 |
| 2 Bedroom | N/A | N/A | $1,010 |
| 3 Bedroom | N/A | N/A | $1,340 |
| 4 Bedroom | N/A | N/A | $1,710 |
Affordability — Forbes, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $190,000 |
| Median Household Income | $80,300 |