Duluth, MN—55806
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 $206,000, with a year-over-year change of 4.6%. This indicates that home prices in Duluth, MN are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $206,000 | 4.6% |
| Single Family | $204,000 | 5.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $197,000 | 5.9% |
3 Bed | $210,000 | 5.5% |
4 Bed | $239,000 | 4.4% |
| 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 $1,240, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Duluth, MN is studios: $1,030, 1-bedrooms: $1,060, 2-bedrooms: $1,220, 3-bedrooms: $1,660, 4-bedrooms: $1,900. The most common rental property sizes in Duluth, MN are 2-bedroom and 1-bedroom, accounting for 39.2% and 35.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,180 | $1,240 |
| Studio Rent | $1,050 | $1,030 |
| 1 Bed Rent | $990 | $1,060 |
| 2 Bed Rent | $1,200 | $1,220 |
| 3 Bed Rent | $1,650 | $1,660 |
| 4 Bed Rent | $1,900 | $1,900 |
% 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 52. This is a increase of 33.0% 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 67.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $177,000 | -20.0% |
Listing Count | 15 | -19.0% |
| Listings as % of Homes | 0.2% | -19.0% |
Days on Market | 52 | 33.0% |
Demographics — Duluth, MN
As of the latest ACS Survey released in 2023, Duluth, MN has a population of 9,540, which has increased by 9.4% over the past 5 years. Duluth, MN is a moderately popular place for families, as children make up 20.4% of the population. The area has a moderately educated workforce, with 27.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,540 | 9.4% |
% Under 18 | 20.4% | -6.0% |
% Seniors | 11.5% | 25.0% |
% WFH | 7.8% | 105.3% |
% w/ College Degree | 27.5% | 5.4% |
As of the latest ACS Survey released in 2023, Duluth, MN is a predominantly white area, with 78.6% of the population identifying as white. The white population has shrunk by 2.4% in the last 5 years. The second most common race or ethnicity in Duluth, MN is black, making up 6.9% of the population. Foreign-born residents account for 3.9% of the population in Duluth, MN, and this percentage has increased by 25.8% 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 | 78.6% | -2.4% |
% Black | 6.9% | -15.9% |
% Hispanic | 2.8% | -6.7% |
% Asian | 1.1% | 175.0% |
% Foreign Born | 3.9% | 25.8% |
Mortgage and Risk — Duluth, MN
According to HUD data as of 2023, there were 117 mortgage originations in Duluth, MN, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Duluth, MN. Investor activity is low, as 9.0% 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 | 117 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 9.0% |
% Second Loans | 3.0% |
% 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 24.8%. 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 | 723 |
Total Units Section 8 | 694 |
% Rentals under Section 8 | 24.8% |
% Occupied Section 8 | 76.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$150 | $990 | $840 |
| 2 Bedroom | -$130 | $1,200 | $1,070 |
| 3 Bedroom | -$210 | $1,650 | $1,440 |
| 4 Bedroom | -$100 | $1,900 | $1,800 |
Affordability — Duluth, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $206,000 |
| Median Household Income | $45,000 |