Preston, MN—55965
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Preston, MN
As of Oct '25, the median home price in Preston, MN is $268,000, with a year-over-year change of -0.2%. This indicates that home prices in Preston, MN are flat. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $268,000 | -0.2% |
| Single Family | $269,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $181,000 | -1.6% |
3 Bed | $244,000 | 1.2% |
4 Bed | $308,000 | 2.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Preston, MN
Preston, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,180 | $2,180 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,180 | $2,180 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Preston, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Preston, MN is 30. This is a increase of 14.0% 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 | $215,000 | 18.0% |
Listing Count | 9 | -12.0% |
| Listings as % of Homes | 0.9% | -12.0% |
Days on Market | 30 | 14.0% |
Demographics — Preston, MN
As of the latest ACS Survey released in 2023, Preston, MN has a population of 2,250, which has decreased by -11.3% over the past 5 years. Preston, MN is a moderately popular place for families, as children make up 22.2% of the population. The area has a moderately educated workforce, with 26.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,250 | -11.3% |
% Under 18 | 22.2% | -7.1% |
% Seniors | 22.9% | 25.8% |
% WFH | 10.9% | 62.7% |
% w/ College Degree | 26.4% | 6.5% |
As of the latest ACS Survey released in 2023, Preston, MN is a predominantly white area, with 94.4% 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 Preston, MN is hispanic, making up 2.0% of the population. Foreign-born residents account for 1.4% of the population in Preston, MN, and this percentage has increased by 180.0% 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 | 94.4% | -2.4% |
% Black | 0.4% | 33.3% |
% Hispanic | 2.0% | 5.3% |
% Asian | 0.4% | -42.9% |
% Foreign Born | 1.4% | 180.0% |
Mortgage and Risk — Preston, MN
According to HUD data as of 2023, there were 50 mortgage originations in Preston, MN, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Preston, MN. Investor activity is low, as 4.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 50 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 4.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Preston, MN
Preston, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | 2.4% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $710 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | -$870 | $2,180 | $1,310 |
| 4 Bedroom | N/A | N/A | $1,380 |
Affordability — Preston, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $268,000 |
| Median Household Income | $62,900 |