Hayfield, MN—55940
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hayfield, MN
As of Oct '25, the median home price in Hayfield, MN is $309,000, with a year-over-year change of 5.6%. This indicates that home prices in Hayfield, 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 | $309,000 | 5.6% |
| Single Family | $312,000 | 6.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $247,000 | 6.0% |
3 Bed | $302,000 | 5.6% |
4 Bed | $378,000 | 7.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hayfield, MN
Hayfield, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $800 | $944 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $750 | $767 |
| 2 Bed Rent | $825 | $825 |
| 3 Bed Rent | $1,600 | $1,600 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Hayfield, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Hayfield, MN is 61. This is a decrease of -9.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $280,000 | -36.0% |
Listing Count | 7 | -4.0% |
| Listings as % of Homes | 0.8% | -4.0% |
Days on Market | 61 | -9.0% |
Demographics — Hayfield, MN
As of the latest ACS Survey released in 2023, Hayfield, MN has a population of 2,810, which has remained stable by 0.5% over the past 5 years. Hayfield, MN is a moderately popular place for families, as children make up 24.8% of the population. The area has a poorly educated workforce, with 24.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,810 | 0.5% |
% Under 18 | 24.8% | 5.1% |
% Seniors | 17.7% | 0.6% |
% WFH | 11.0% | 37.5% |
% w/ College Degree | 24.6% | 1.7% |
As of the latest ACS Survey released in 2023, Hayfield, MN is a predominantly white area, with 86.8% of the population identifying as white. The white population has shrunk by 9.8% in the last 5 years. The second most common race or ethnicity in Hayfield, MN is black, making up 4.6% of the population. Foreign-born residents account for 1.1% of the population in Hayfield, MN, and this percentage has increased by 83.3% 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 | 86.8% | -9.8% |
% Black | 4.6% | 475.0% |
% Hispanic | 3.4% | 112.5% |
% Asian | 1.1% | 266.7% |
% Foreign Born | 1.1% | 83.3% |
Mortgage and Risk — Hayfield, MN
According to HUD data as of 2023, there were 66 mortgage originations in Hayfield, MN, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Hayfield, MN. Investor activity is low, as 0.0% 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 | 66 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Hayfield, MN
Hayfield, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 35 |
Total Units Section 8 | 35 |
% Rentals under Section 8 | 14.5% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $120 | $750 | $870 |
| 2 Bedroom | $235 | $825 | $1,060 |
| 3 Bedroom | -$120 | $1,600 | $1,480 |
| 4 Bedroom | N/A | N/A | $1,780 |
Affordability — Hayfield, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $309,000 |
| Median Household Income | $83,900 |