Garfield, MN—56332
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Garfield, MN
As of Oct '25, the median home price in Garfield, MN is $362,000, with a year-over-year change of 2.6%. This indicates that home prices in Garfield, MN are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $362,000 | 2.6% |
| Single Family | $362,000 | 2.5% |
| 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 | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Garfield, MN
Garfield, 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 — Garfield, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Garfield, MN is 61. This is a decrease of -36.0% 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 57.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $680,000 | -4.0% |
Listing Count | 7 | -9.0% |
| Listings as % of Homes | 0.1% | -9.0% |
Days on Market | 61 | -36.0% |
Demographics — Garfield, MN
As of the latest ACS Survey released in 2023, Garfield, MN has a population of 1,660, which has increased by 7.2% over the past 5 years. Garfield, MN is a moderately popular place for families, as children make up 22.2% of the population. The area has a poorly educated workforce, with 23.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,660 | 7.2% |
% Under 18 | 22.2% | 0.5% |
% Seniors | 18.2% | -2.2% |
% WFH | 10.8% | 14.9% |
% w/ College Degree | 23.8% | -15.3% |
As of the latest ACS Survey released in 2023, Garfield, MN is a predominantly white area, with 93.5% of the population identifying as white. The white population has shrunk by 5.2% in the last 5 years. The second most common race or ethnicity in Garfield, MN is asian, making up 2.2% of the population. Foreign-born residents account for 3.4% of the population in Garfield, MN, and this percentage has increased by 385.7% 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 | 93.5% | -5.2% |
% Black | 0.0% | -100.0% |
% Hispanic | 0.4% | -63.6% |
% Asian | 2.2% | ∞% |
% Foreign Born | 3.4% | 385.7% |
Mortgage and Risk — Garfield, MN
Garfield, MN lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Garfield, MN
Garfield, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% 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 | N/A | N/A | $800 |
| 2 Bedroom | N/A | N/A | $1,000 |
| 3 Bedroom | N/A | N/A | $1,320 |
| 4 Bedroom | N/A | N/A | $1,330 |
Affordability — Garfield, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $362,000 |
| Median Household Income | $89,900 |