Duluth, MN—55802
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Duluth, MN
As of Oct '25, the median home price in Duluth, MN is $462,000, with a year-over-year change of 1.7%. This indicates that home prices in Duluth, MN are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $462,000 | 1.7% |
| Single Family | $454,000 | 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 | $483,000 | 2.3% |
3 Bed | $555,000 | 1.6% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Duluth, MN
As of July '25, Rentcast reports the average rent in Duluth, MN is $1,450, with a year-over-year rent change of -9.9%. Per bedroom, the median rent as of July '25 in Duluth, MN is studios: $1,130, 1-bedrooms: $1,370, 2-bedrooms: $2,010. The most common rental property sizes in Duluth, MN are 1-bedroom and 2-bedroom, accounting for 63.4% and 24.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,450 |
| Studio Rent | $1,160 | $1,130 |
| 1 Bed Rent | $1,350 | $1,370 |
| 2 Bed Rent | $1,840 | $2,010 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Duluth, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Duluth, MN is 80. This is a increase of 16.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $741,000 | -39.0% |
Listing Count | 7 | 4.0% |
| Listings as % of Homes | 0.3% | 4.0% |
Days on Market | 80 | 16.0% |
Demographics — Duluth, MN
As of the latest ACS Survey released in 2023, Duluth, MN has a population of 2,560, which has increased by 7.4% over the past 5 years. Duluth, MN is a less popular place for families, as children make up 6.1% of the population. The area has a moderately educated workforce, with 45.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,560 | 7.4% |
% Under 18 | 6.1% | -16.4% |
% Seniors | 32.0% | -16.4% |
% WFH | 20.1% | 302.0% |
% w/ College Degree | 45.0% | 12.2% |
As of the latest ACS Survey released in 2023, Duluth, MN is a predominantly white area, with 72.7% of the population identifying as white. The white population has shrunk by 15.1% in the last 5 years. The second most common race or ethnicity in Duluth, MN is black, making up 9.6% of the population. Foreign-born residents account for 6.0% of the population in Duluth, MN, and this percentage has increased by 17.6% 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 | 72.7% | -15.1% |
% Black | 9.6% | 209.7% |
% Hispanic | 5.2% | 1,200.0% |
% Asian | 2.8% | 16.7% |
% Foreign Born | 6.0% | 17.6% |
Mortgage and Risk — Duluth, MN
According to HUD data as of 2023, there were 17 mortgage originations in Duluth, MN, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Duluth, MN. Investor activity is low, as 12.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 17 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 12.0% |
% Second Loans | 12.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Duluth, MN
Duluth, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 506 |
Total Units Section 8 | 506 |
% Rentals under Section 8 | 62.9% |
% Occupied Section 8 | 85.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$390 | $1,350 | $960 |
| 2 Bedroom | -$620 | $1,840 | $1,220 |
| 3 Bedroom | N/A | N/A | $1,650 |
| 4 Bedroom | N/A | N/A | $2,050 |
Affordability — Duluth, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 10.1 |
| Median Home Price | $462,000 |
| Median Household Income | $40,800 |