Truman, MN—56088
Real Estate Data & Market Trends
Key Metrics at a Glance
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 | $201,000 | 11.3% |
| Single Family | $200,000 | 11.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $125,000 | 8.7% |
3 Bed | $182,000 | 10.3% |
4 Bed | $212,000 | 11.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Truman, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Truman, MN is 35. This is a increase of 63.0% 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 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 | $165,000 | 13.0% |
Listing Count | 14 | 550.0% |
| Listings as % of Homes | 0.4% | 550.0% |
Days on Market | 35 | 63.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Truman, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $201,000 |
| Median Household Income | $70,600 |