Waterville, MN—56096
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Waterville, MN
As of Oct '25, the median home price in Waterville, MN is $314,000, with a year-over-year change of 4.0%. This indicates that home prices in Waterville, MN are increasing. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $314,000 | 4.0% |
| Single Family | $315,000 | 3.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $291,000 | 3.9% |
3 Bed | $319,000 | 2.6% |
4 Bed | $357,000 | 3.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Waterville, MN
As of July '25, Rentcast reports the average rent in Waterville, MN is $1,850, with a year-over-year rent change of -7.5%. Per bedroom, the median rent as of July '25 in Waterville, MN is 2-bedrooms: $1,850. The most common rental property sizes in Waterville, MN are 2-bedroom and 1-bedroom, accounting for 47.7% and 18.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $1,850 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,850 | $1,850 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Waterville, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Waterville, MN is 40. This is a decrease of -32.0% 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 46.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $246,000 | -50.0% |
Listing Count | 13 | -15.0% |
| Listings as % of Homes | 0.5% | -15.0% |
Days on Market | 40 | -32.0% |
Demographics — Waterville, MN
As of the latest ACS Survey released in 2023, Waterville, MN has a population of 2,870, which has decreased by -9.1% over the past 5 years. Waterville, MN is a moderately popular place for families, as children make up 19.1% of the population. The area has a poorly educated workforce, with 20.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,870 | -9.1% |
% Under 18 | 19.1% | -16.6% |
% Seniors | 20.8% | 3.5% |
% WFH | 4.8% | -2.0% |
% w/ College Degree | 20.1% | -11.5% |
As of the latest ACS Survey released in 2023, Waterville, MN is a predominantly white area, with 88.9% of the population identifying as white. The white population has shrunk by 8.2% in the last 5 years. The second most common race or ethnicity in Waterville, MN is hispanic, making up 5.3% of the population. Foreign-born residents account for 0.3% of the population in Waterville, MN, and this percentage has decreased by 76.9% 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 | 88.9% | -8.2% |
% Black | 0.7% | 0.0% |
% Hispanic | 5.3% | 194.4% |
% Asian | 0.6% | 100.0% |
% Foreign Born | 0.3% | -76.9% |
Mortgage and Risk — Waterville, MN
According to HUD data as of 2023, there were 67 mortgage originations in Waterville, MN, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Waterville, MN. Investor activity is low, as 6.0% 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 | 67 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 6.0% |
% Second Loans | 9.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Waterville, MN
Waterville, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 29 |
Total Units Section 8 | 29 |
% Rentals under Section 8 | 12.1% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $830 |
| 2 Bedroom | -$760 | $1,850 | $1,090 |
| 3 Bedroom | N/A | N/A | $1,480 |
| 4 Bedroom | N/A | N/A | $1,740 |
Affordability — Waterville, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $314,000 |
| Median Household Income | $79,900 |