Parkers Prairie, MN—56361
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Parkers Prairie, MN
As of Oct '25, the median home price in Parkers Prairie, MN is $265,000, with a year-over-year change of 2.0%. This indicates that home prices in Parkers Prairie, MN are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $265,000 | 2.0% |
| Single Family | $265,000 | 1.5% |
| 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 — Parkers Prairie, MN
As of July '25, Rentcast reports the average rent in Parkers Prairie, MN is $763, with a year-over-year rent change of -4.7%. Per bedroom, the median rent as of July '25 in Parkers Prairie, MN is 1-bedrooms: $807, 2-bedrooms: $675. The most common rental property sizes in Parkers Prairie, MN are 2-bedroom and 1-bedroom, accounting for 49.3% and 24.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $773 | $763 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $773 | $807 |
| 2 Bed Rent | $675 | $675 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Parkers Prairie, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Parkers Prairie, MN is 50. This is a decrease of -19.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $349,000 | -22.0% |
Listing Count | 10 | -15.0% |
| Listings as % of Homes | 0.3% | -15.0% |
Days on Market | 50 | -19.0% |
Demographics — Parkers Prairie, MN
As of the latest ACS Survey released in 2023, Parkers Prairie, MN has a population of 2,590, which has increased by 13.0% over the past 5 years. Parkers Prairie, MN is a moderately popular place for families, as children make up 23.9% of the population. The area has a poorly educated workforce, with 11.2% 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 | 2,590 | 13.0% |
% Under 18 | 23.9% | 5.8% |
% Seniors | 25.0% | 18.5% |
% WFH | 8.2% | -3.5% |
% w/ College Degree | 11.2% | -35.3% |
As of the latest ACS Survey released in 2023, Parkers Prairie, MN is a predominantly white area, with 95.6% of the population identifying as white. The white population has shrunk by 3.8% in the last 5 years. The second most common race or ethnicity in Parkers Prairie, MN is black, making up 1.3% of the population. Foreign-born residents account for 0.9% of the population in Parkers Prairie, MN, and this percentage has increased by 125.0% 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 | 95.6% | -3.8% |
% Black | 1.3% | ∞% |
% Hispanic | 1.2% | 1,100.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.9% | 125.0% |
Mortgage and Risk — Parkers Prairie, MN
According to HUD data as of 2023, there were 41 mortgage originations in Parkers Prairie, MN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Parkers Prairie, MN. Investor activity is low, as 5.0% 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 | 41 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 5.0% |
% Second Loans | 12.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Parkers Prairie, MN
Parkers Prairie, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 10 |
Total Units Section 8 | 10 |
% 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 | $37 | $773 | $810 |
| 2 Bedroom | $385 | $675 | $1,060 |
| 3 Bedroom | N/A | N/A | $1,450 |
| 4 Bedroom | N/A | N/A | $1,520 |
Affordability — Parkers Prairie, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $265,000 |
| Median Household Income | $69,900 |