Grand Rapids, MN—55744
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Grand Rapids, MN
Grand Rapids, MN lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $272,000 | 4.0% |
| Single Family | $272,000 | 3.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $185,000 | 3.9% |
2 Bed | $246,000 | 4.2% |
3 Bed | $280,000 | 4.1% |
4 Bed | $342,000 | 4.0% |
| 5 Bed | $405,000 | 2.5% |
% of Housing Stock
Rental Trends — Grand Rapids, MN
As of July '25, Rentcast reports the average rent in Grand Rapids, MN is $785, with a year-over-year rent change of -42.7%. Per bedroom, the median rent as of July '25 in Grand Rapids, MN is studios: $785. The most common rental property sizes in Grand Rapids, MN are 2-bedroom and 1-bedroom, accounting for 34.0% and 33.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $785 | $785 |
| Studio Rent | $785 | $785 |
| 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 — Grand Rapids, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Grand Rapids, MN is 54. This is a increase of 13.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $398,000 | 22.0% |
Listing Count | 67 | -3.0% |
| Listings as % of Homes | 0.3% | -3.0% |
Days on Market | 54 | 13.0% |
Demographics — Grand Rapids, MN
As of the latest ACS Survey released in 2023, Grand Rapids, MN has a population of 20,500, which has remained stable by 0.6% over the past 5 years. Grand Rapids, MN is a moderately popular place for families, as children make up 20.3% of the population. The area has a moderately educated workforce, with 29.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,500 | 0.6% |
% Under 18 | 20.3% | -7.7% |
% Seniors | 26.6% | 27.3% |
% WFH | 8.1% | 58.8% |
% w/ College Degree | 29.7% | 15.6% |
As of the latest ACS Survey released in 2023, Grand Rapids, MN is a predominantly white area, with 90.4% of the population identifying as white. The white population has shrunk by 5.2% in the last 5 years. The second most common race or ethnicity in Grand Rapids, MN is hispanic, making up 1.4% of the population. Foreign-born residents account for 0.9% of the population in Grand Rapids, MN, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 90.4% | -5.2% |
% Black | 0.8% | 166.7% |
% Hispanic | 1.4% | 40.0% |
% Asian | 0.4% | -20.0% |
% Foreign Born | 0.9% | 0.0% |
Mortgage and Risk — Grand Rapids, MN
According to HUD data as of 2023, there were 342 mortgage originations in Grand Rapids, MN, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Grand Rapids, 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 | 342 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 1.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Grand Rapids, MN
Grand Rapids, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 492 |
Total Units Section 8 | 400 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 81.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $830 |
| 2 Bedroom | N/A | N/A | $1,050 |
| 3 Bedroom | N/A | N/A | $1,320 |
| 4 Bedroom | N/A | N/A | $1,450 |
Affordability — Grand Rapids, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $272,000 |
| Median Household Income | $68,200 |