Spring Grove, MN—55974
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Spring Grove, MN
As of Oct '25, the median home price in Spring Grove, MN is $256,000, with a year-over-year change of 9.6%. This indicates that home prices in Spring Grove, MN are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $256,000 | 9.6% |
| Single Family | $256,000 | 9.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $234,000 | 8.3% |
4 Bed | $336,000 | 9.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Spring Grove, MN
Spring Grove, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $950 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $950 | $950 |
| 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 — Spring Grove, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Spring Grove, MN is 47. This is a increase of 145.0% 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 | $264,000 | 42.0% |
Listing Count | 3 | -68.0% |
| Listings as % of Homes | 0.6% | -68.0% |
Days on Market | 47 | 145.0% |
Demographics — Spring Grove, MN
As of the latest ACS Survey released in 2023, Spring Grove, MN has a population of 2,000, which has decreased by -1.6% over the past 5 years. Spring Grove, MN is a moderately popular place for families, as children make up 21.7% of the population. The area has a poorly educated workforce, with 22.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,000 | -1.6% |
% Under 18 | 21.7% | 3.8% |
% Seniors | 32.5% | 14.8% |
% WFH | 12.5% | 30.2% |
% w/ College Degree | 22.1% | 24.9% |
As of the latest ACS Survey released in 2023, Spring Grove, MN is a predominantly white area, with 96.0% of the population identifying as white. The white population has shrunk by 2.5% in the last 5 years. The second most common race or ethnicity in Spring Grove, MN is hispanic, making up 2.1% of the population. Foreign-born residents account for 1.3% of the population in Spring Grove, MN, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 96.0% | -2.5% |
% Black | 0.0% | -100.0% |
% Hispanic | 2.1% | 950.0% |
% Asian | 0.3% | ∞% |
% Foreign Born | 1.3% | 0.0% |
Mortgage and Risk — Spring Grove, MN
According to HUD data as of 2023, there were 46 mortgage originations in Spring Grove, MN, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Spring Grove, MN. Investor activity is low, as 9.0% 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 | 46 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 9.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Spring Grove, MN
Spring Grove, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 54 |
Total Units Section 8 | 54 |
% Rentals under Section 8 | 26.0% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$100 | $950 | $850 |
| 2 Bedroom | N/A | N/A | $1,120 |
| 3 Bedroom | N/A | N/A | $1,480 |
| 4 Bedroom | N/A | N/A | $1,860 |
Affordability — Spring Grove, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $256,000 |
| Median Household Income | $60,700 |