Duluth, MN—55805
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 $217,000, with a year-over-year change of 5.9%. This indicates that home prices in Duluth, 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 | $217,000 | 5.9% |
| Single Family | $214,000 | 7.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $206,000 | 5.6% |
3 Bed | $215,000 | 6.4% |
4 Bed | $247,000 | 6.9% |
| 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 $1,270, with a year-over-year rent change of 0.8%. Per bedroom, the median rent as of July '25 in Duluth, MN is studios: $900, 1-bedrooms: $1,030, 2-bedrooms: $1,310, 3-bedrooms: $1,560, 4-bedrooms: $1,790. The most common rental property sizes in Duluth, MN are 1-bedroom and 2-bedroom, accounting for 32.1% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,270 |
| Studio Rent | $800 | $900 |
| 1 Bed Rent | $1,050 | $1,030 |
| 2 Bed Rent | $1,280 | $1,310 |
| 3 Bed Rent | $1,650 | $1,560 |
| 4 Bed Rent | $1,900 | $1,790 |
% 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 46. This is a increase of 48.0% 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 53.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $230,000 | 10.0% |
Listing Count | 15 | -18.0% |
| Listings as % of Homes | 0.1% | -18.0% |
Days on Market | 46 | 48.0% |
Demographics — Duluth, MN
As of the latest ACS Survey released in 2023, Duluth, MN has a population of 10,300, which has increased by 7.5% over the past 5 years. Duluth, MN is a moderately popular place for families, as children make up 16.6% of the population. The area has a moderately educated workforce, with 36.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,300 | 7.5% |
% Under 18 | 16.6% | 23.9% |
% Seniors | 10.0% | 8.7% |
% WFH | 12.3% | 261.8% |
% w/ College Degree | 36.5% | 6.7% |
As of the latest ACS Survey released in 2023, Duluth, MN is a predominantly white area, with 84.1% of the population identifying as white. The white population has grown by 3.6% in the last 5 years. The second most common race or ethnicity in Duluth, MN is hispanic, making up 3.9% of the population. Foreign-born residents account for 1.9% of the population in Duluth, MN, and this percentage has decreased by 63.5% 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 | 84.1% | 3.6% |
% Black | 3.1% | -34.0% |
% Hispanic | 3.9% | 85.7% |
% Asian | 2.3% | -30.3% |
% Foreign Born | 1.9% | -63.5% |
Mortgage and Risk — Duluth, MN
According to HUD data as of 2023, there were 104 mortgage originations in Duluth, MN, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Duluth, MN. Investor activity is low, as 15.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 104 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 15.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Duluth, MN
As of 2024, the percent of homes in Duluth, MN under the Section 8 program is 23.8%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Duluth, MN, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 882 |
Total Units Section 8 | 821 |
% Rentals under Section 8 | 23.8% |
% Occupied Section 8 | 80.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$160 | $1,050 | $890 |
| 2 Bedroom | -$150 | $1,280 | $1,130 |
| 3 Bedroom | -$130 | $1,650 | $1,520 |
| 4 Bedroom | $0 | $1,900 | $1,900 |
Affordability — Duluth, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $217,000 |
| Median Household Income | $43,100 |