Pine Island, MN—55963
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Pine Island, MN
As of Oct '25, the median home price in Pine Island, MN is $372,000, with a year-over-year change of 3.5%. This indicates that home prices in Pine Island, MN are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $372,000 | 3.5% |
| Single Family | $373,000 | 3.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $278,000 | 3.0% |
3 Bed | $378,000 | 4.1% |
4 Bed | $397,000 | 3.4% |
| 5 Bed | $474,000 | 4.2% |
% of Housing Stock
Rental Trends — Pine Island, MN
As of July '25, Rentcast reports the average rent in Pine Island, MN is $1,400, with a year-over-year rent change of 80.6%. Per bedroom, the median rent as of July '25 in Pine Island, MN is 1-bedrooms: $1,400. The most common rental property sizes in Pine Island, MN are 2-bedroom and 3-bedroom, accounting for 37.0% and 35.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,400 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,400 | $1,400 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Pine Island, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Pine Island, MN is 35. This is a decrease of -24.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $379,000 | -1.0% |
Listing Count | 23 | -3.0% |
| Listings as % of Homes | 0.8% | -3.0% |
Days on Market | 35 | -24.0% |
Demographics — Pine Island, MN
As of the latest ACS Survey released in 2023, Pine Island, MN has a population of 5,470, which has increased by 4.4% over the past 5 years. Pine Island, MN is a popular place for families, as children make up 25.3% of the population. The area has a moderately educated workforce, with 37.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,470 | 4.4% |
% Under 18 | 25.3% | -8.0% |
% Seniors | 16.8% | 12.0% |
% WFH | 12.9% | 180.4% |
% w/ College Degree | 37.3% | 6.6% |
As of the latest ACS Survey released in 2023, Pine Island, MN is a predominantly white area, with 95.8% of the population identifying as white. The white population has shrunk by 1.5% in the last 5 years. The second most common race or ethnicity in Pine Island, MN is black, making up 1.0% of the population. Foreign-born residents account for 0.9% of the population in Pine Island, MN, and this percentage has decreased by 30.8% 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 | 95.8% | -1.5% |
% Black | 1.0% | 25.0% |
% Hispanic | 0.4% | 0.0% |
% Asian | 0.2% | -77.8% |
% Foreign Born | 0.9% | -30.8% |
Mortgage and Risk — Pine Island, MN
According to HUD data as of 2023, there were 79 mortgage originations in Pine Island, MN, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Pine Island, MN. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 79 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Pine Island, MN
Pine Island, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 49 |
Total Units Section 8 | 45 |
% Rentals under Section 8 | 11.2% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$520 | $1,400 | $880 |
| 2 Bedroom | N/A | N/A | $1,060 |
| 3 Bedroom | N/A | N/A | $1,480 |
| 4 Bedroom | N/A | N/A | $1,780 |
Affordability — Pine Island, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $372,000 |
| Median Household Income | $109,000 |