Duluth, MN—55812
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 $341,000, with a year-over-year change of 2.3%. This indicates that home prices in Duluth, MN are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $341,000 | 2.3% |
| Single Family | $336,000 | 2.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $282,000 | 2.9% |
3 Bed | $317,000 | 3.3% |
4 Bed | $372,000 | 3.0% |
| 5 Bed | $470,000 | 1.7% |
% of Housing Stock
Rental Trends — Duluth, MN
As of July '25, Rentcast reports the average rent in Duluth, MN is $1,840, with a year-over-year rent change of 4.5%. Per bedroom, the median rent as of July '25 in Duluth, MN is studios: $868, 1-bedrooms: $1,520, 2-bedrooms: $2,250, 3-bedrooms: $1,910, 4-bedrooms: $2,280. The most common rental property sizes in Duluth, MN are 1-bedroom and 2-bedroom, accounting for 36.9% and 19.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,840 |
| Studio Rent | $850 | $868 |
| 1 Bed Rent | $1,650 | $1,520 |
| 2 Bed Rent | $1,750 | $2,250 |
| 3 Bed Rent | $1,700 | $1,910 |
| 4 Bed Rent | $2,350 | $2,280 |
% 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 25. This is a increase of 31.0% 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 | $464,000 | 12.0% |
Listing Count | 23 | 7.0% |
| Listings as % of Homes | 0.1% | 7.0% |
Days on Market | 25 | 31.0% |
Demographics — Duluth, MN
As of the latest ACS Survey released in 2023, Duluth, MN has a population of 11,000, which has decreased by -6.7% over the past 5 years. Duluth, MN is a less popular place for families, as children make up 12.5% of the population. The area has a highly educated workforce, with 59.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,000 | -6.7% |
% Under 18 | 12.5% | -1.6% |
% Seniors | 8.8% | 18.9% |
% WFH | 14.3% | 204.3% |
% w/ College Degree | 59.6% | 5.7% |
As of the latest ACS Survey released in 2023, Duluth, MN is a predominantly white area, with 82.7% of the population identifying as white. The white population has shrunk by 6.2% in the last 5 years. The second most common race or ethnicity in Duluth, MN is hispanic, making up 4.1% of the population. Foreign-born residents account for 4.1% of the population in Duluth, MN, and this percentage has increased by 5.1% 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 | 82.7% | -6.2% |
% Black | 3.8% | 137.5% |
% Hispanic | 4.1% | 46.4% |
% Asian | 2.9% | 20.8% |
% Foreign Born | 4.1% | 5.1% |
Mortgage and Risk — Duluth, MN
According to HUD data as of 2023, there were 67 mortgage originations in Duluth, MN, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 21.0% 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 | 67 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% 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 7.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Duluth, MN, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 161 |
Total Units Section 8 | 137 |
% Rentals under Section 8 | 7.0% |
% Occupied Section 8 | 81.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$610 | $1,650 | $1,040 |
| 2 Bedroom | -$430 | $1,750 | $1,320 |
| 3 Bedroom | $80 | $1,700 | $1,780 |
| 4 Bedroom | -$130 | $2,350 | $2,220 |
Affordability — Duluth, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $341,000 |
| Median Household Income | $67,000 |