Spicer, MN—56288
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Spicer, MN
As of Oct '25, the median home price in Spicer, MN is $382,000, with a year-over-year change of 3.5%. This indicates that home prices in Spicer, MN are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $382,000 | 3.5% |
| Single Family | $396,000 | 3.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $427,000 | 2.4% |
4 Bed | $515,000 | 2.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Spicer, MN
As of July '25, Rentcast reports the average rent in Spicer, MN is $1,800, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Spicer, MN is 1-bedrooms: $1,050, 2-bedrooms: $1,300, 4-bedrooms: $3,800. The most common rental property sizes in Spicer, MN are 3-bedroom and 1-bedroom, accounting for 33.5% and 31.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,150 | $1,800 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $950 | $1,050 |
| 2 Bed Rent | $1,300 | $1,300 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $3,800 | $3,800 |
% of Rental Stock
Property Listings — Spicer, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Spicer, MN is 68. This is a increase of 23.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $548,000 | 7.0% |
Listing Count | 29 | -11.0% |
| Listings as % of Homes | 0.4% | -11.0% |
Days on Market | 68 | 23.0% |
Demographics — Spicer, MN
As of the latest ACS Survey released in 2023, Spicer, MN has a population of 4,660, which has decreased by -4.0% over the past 5 years. Spicer, MN is a moderately popular place for families, as children make up 19.2% of the population. The area has a moderately educated workforce, with 33.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,660 | -4.0% |
% Under 18 | 19.2% | -7.2% |
% Seniors | 24.0% | 11.1% |
% WFH | 9.6% | 134.1% |
% w/ College Degree | 33.8% | -2.3% |
As of the latest ACS Survey released in 2023, Spicer, MN is a predominantly white area, with 92.8% of the population identifying as white. The white population has shrunk by 4.9% in the last 5 years. The second most common race or ethnicity in Spicer, MN is hispanic, making up 3.3% of the population. Foreign-born residents account for 1.4% of the population in Spicer, MN, and this percentage has increased by 7.7% 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 | 92.8% | -4.9% |
% Black | 0.4% | ∞% |
% Hispanic | 3.3% | 135.7% |
% Asian | 0.4% | ∞% |
% Foreign Born | 1.4% | 7.7% |
Mortgage and Risk — Spicer, MN
According to HUD data as of 2023, there were 60 mortgage originations in Spicer, MN, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Spicer, MN. Investor activity is low, as 3.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 60 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 3.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Spicer, MN
Spicer, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 9 |
Total Units Section 8 | 9 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$190 | $950 | $760 |
| 2 Bedroom | -$370 | $1,300 | $930 |
| 3 Bedroom | N/A | N/A | $1,310 |
| 4 Bedroom | -$2,260 | $3,800 | $1,540 |
Affordability — Spicer, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $382,000 |
| Median Household Income | $105,000 |