Hibbing, MN—55746
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hibbing, MN
As of Oct '25, the median home price in Hibbing, MN is $156,000, with a year-over-year change of 4.5%. This indicates that home prices in Hibbing, MN are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $156,000 | 4.5% |
| Single Family | $156,000 | 5.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $88,000 | 0.0% |
2 Bed | $127,000 | 4.1% |
3 Bed | $177,000 | 6.0% |
4 Bed | $201,000 | 5.8% |
| 5 Bed | $251,000 | 5.9% |
% of Housing Stock
Rental Trends — Hibbing, MN
As of July '25, Rentcast reports the average rent in Hibbing, MN is $826, with a year-over-year rent change of -38.4%. Per bedroom, the median rent as of July '25 in Hibbing, MN is 1-bedrooms: $732, 2-bedrooms: $983. The most common rental property sizes in Hibbing, MN are 2-bedroom and 1-bedroom, accounting for 32.4% and 31.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $715 | $826 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $715 | $732 |
| 2 Bed Rent | $1,000 | $983 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Hibbing, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Hibbing, MN is 56. This is a decrease of -5.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $189,000 | 4.0% |
Listing Count | 57 | -7.0% |
| Listings as % of Homes | 0.2% | -7.0% |
Days on Market | 56 | -5.0% |
Demographics — Hibbing, MN
As of the latest ACS Survey released in 2023, Hibbing, MN has a population of 16,800, which has remained stable by -0.4% over the past 5 years. Hibbing, MN is a moderately popular place for families, as children make up 19.9% of the population. The area has a poorly educated workforce, with 19.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,800 | -0.4% |
% Under 18 | 19.9% | -22.6% |
% Seniors | 23.0% | 28.5% |
% WFH | 3.8% | -7.3% |
% w/ College Degree | 19.0% | -2.6% |
As of the latest ACS Survey released in 2023, Hibbing, MN is a predominantly white area, with 92.6% of the population identifying as white. The white population has shrunk by 0.6% in the last 5 years. The second most common race or ethnicity in Hibbing, MN is black, making up 2.1% of the population. Foreign-born residents account for 2.2% of the population in Hibbing, MN, and this percentage has decreased by 21.4% 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 | 92.6% | -0.6% |
% Black | 2.1% | 133.3% |
% Hispanic | 1.8% | 12.5% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 2.2% | -21.4% |
Mortgage and Risk — Hibbing, MN
According to HUD data as of 2023, there were 236 mortgage originations in Hibbing, MN, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Hibbing, MN. Investor activity is low, as 6.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 236 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Hibbing, MN
Hibbing, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 875 |
Total Units Section 8 | 625 |
% Rentals under Section 8 | 31.9% |
% Occupied Section 8 | 86.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $75 | $715 | $790 |
| 2 Bedroom | $10 | $1,000 | $1,010 |
| 3 Bedroom | N/A | N/A | $1,340 |
| 4 Bedroom | N/A | N/A | $1,710 |
Affordability — Hibbing, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.4 |
| Median Home Price | $156,000 |
| Median Household Income | $55,700 |