Truman, MN 56088 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Truman, MN—56088

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$198,000

11.5% YoY Growth

Household Income

$70,600

33.5% YoY Growth

Days on Market

37.0% Longer YoY

Home Price Forecast

N/A

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Truman, MN

Truman, MN lacks sufficient home price data for analysis.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$198,000	11.5%
Single Family	$198,000	11.2%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

Rental Trends — Truman, MN

Truman, MN lacks sufficient rental market data for analysis.

Type	Median Rent	Average Rent
Average Rent	N/A	N/A
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

3.0%

1 Bedroom

8.8%

2 Bedrooms

29.7%

3 Bedrooms

45.3%

4 Bedrooms

9.8%

5+ Bedrooms

3.4%

Property Listings — Truman, MN

As of Dec '25, Realtor.com reports that the median days on market for a home in Truman, MN is 59. This is a increase of 79.0% 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	$220,000	17.0%
Listing Count	10	280.0%
Listings as % of Homes	0.4%	280.0%
Days on Market	79	37.0%

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Demographics — Truman, MN

As of the latest ACS Survey released in 2023, Truman, MN has a population of 2,060, which has increased by 16.4% over the past 5 years. Truman, MN is a popular place for families, as children make up 25.1% of the population. The area has a poorly educated workforce, with 19.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	2,060	16.4%
% Under 18	25.1%	44.3%
% Seniors	18.9%	-29.5%
% WFH	8.2%	18.8%
% w/ College Degree	19.3%	32.2%

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As of the latest ACS Survey released in 2023, Truman, MN is a predominantly white area, with 93.8% of the population identifying as white. The white population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in Truman, MN is hispanic, making up 3.8% of the population. Foreign-born residents account for 3.6% of the population in Truman, MN, and this percentage has increased by 500.0% 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	93.8%	-1.8%
% Black	0.0%	-100.0%
% Hispanic	3.8%	15.2%
% Asian	0.1%	∞%
% Foreign Born	3.6%	500.0%

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Mortgage and Risk — Truman, MN

According to HUD data as of 2023, there were 45 mortgage originations in Truman, MN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Truman, MN. Investor activity is low, as 11.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	45
% Conventional Loans	80.0%
% Government Loans	20.0%
% Investor Loans	11.0%
% Second Loans	0.0%
% Cash Out Refinance	7.0%

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Rentals and Section 8 — Truman, MN

Truman, MN lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	4
Total Units Section 8	4
% Rentals under Section 8	1.0%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$820
2 Bedroom	N/A	N/A	$1,000
3 Bedroom	N/A	N/A	$1,400
4 Bedroom	N/A	N/A	$1,690

Truman, MN—56088

Key Metrics at a Glance

Home Price Trends — Truman, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Truman, MN

% of Rental Stock

Property Listings — Truman, MN

Demographics — Truman, MN

Race and Ethnicity

Mortgage and Risk — Truman, MN

Mortgages

Rentals and Section 8 — Truman, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Truman, MN

Home Price to Income Ratio

Truman, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Northrop

Fairmont, MN

Granada, MN

Ormsby, MN

Welcome, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.3
Median Home Price	$198,000
Median Household Income	$70,600

Truman, MN—56088

Key Metrics at a Glance

Home Price Trends — Truman, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Truman, MN

% of Rental Stock

Property Listings — Truman, MN

Demographics — Truman, MN

Race and Ethnicity

Mortgage and Risk — Truman, MN

Mortgages

Rentals and Section 8 — Truman, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Truman, MN

Home Price to Income Ratio

Truman, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Northrop

Fairmont, MN

Granada, MN

Ormsby, MN

Welcome, MN

Frequently Asked Questions

What is the average home price in Truman, MN 56088?

How have home prices in Truman, MN 56088 changed over the past year?

What is the home price projection for Truman, MN 56088?

What are the demographics of Truman, MN 56088?

How long does it take homes to sell in Truman, MN 56088?

What is the average rent price in Truman, MN 56088?