Paynesville, MN—56362
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Paynesville, MN
As of Oct '25, the median home price in Paynesville, MN is $324,000, with a year-over-year change of 5.5%. This indicates that home prices in Paynesville, MN are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $324,000 | 5.6% |
| Single Family | $323,000 | 4.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $267,000 | 4.7% |
3 Bed | $315,000 | 4.7% |
4 Bed | $390,000 | 6.3% |
| 5 Bed | $413,000 | 6.4% |
% of Housing Stock
Rental Trends — Paynesville, MN
As of July '25, Rentcast reports the average rent in Paynesville, MN is $1,300, with a year-over-year rent change of 85.7%. Per bedroom, the median rent as of July '25 in Paynesville, MN is 3-bedrooms: $1,300. The most common rental property sizes in Paynesville, MN are 2-bedroom and 1-bedroom, accounting for 40.1% and 33.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,300 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,300 | $1,300 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Paynesville, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Paynesville, MN is 46. This is a increase of 39.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $280,000 | 4.0% |
Listing Count | 16 | -43.0% |
| Listings as % of Homes | 0.2% | -43.0% |
Days on Market | 46 | 39.0% |
Demographics — Paynesville, MN
As of the latest ACS Survey released in 2023, Paynesville, MN has a population of 5,560, which has decreased by -4.8% over the past 5 years. Paynesville, MN is a moderately popular place for families, as children make up 20.9% of the population. The area has a moderately educated workforce, with 26.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,560 | -4.8% |
% Under 18 | 20.9% | -9.1% |
% Seniors | 24.7% | 16.0% |
% WFH | 12.9% | 61.3% |
% w/ College Degree | 26.9% | 34.5% |
As of the latest ACS Survey released in 2023, Paynesville, MN is a predominantly white area, with 92.8% of the population identifying as white. The white population has shrunk by 1.7% in the last 5 years. The second most common race or ethnicity in Paynesville, MN is hispanic, making up 3.4% of the population. Foreign-born residents account for 1.5% of the population in Paynesville, MN, and this percentage has decreased by 60.5% 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 | 92.8% | -1.7% |
% Black | 0.3% | 0.0% |
% Hispanic | 3.4% | -10.5% |
% Asian | 0.6% | -14.3% |
% Foreign Born | 1.5% | -60.5% |
Mortgage and Risk — Paynesville, MN
According to HUD data as of 2023, there were 87 mortgage originations in Paynesville, MN, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Paynesville, MN. Investor activity is low, as 5.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 87 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 5.0% |
% Second Loans | 7.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Paynesville, MN
Paynesville, 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 | 1.5% |
% 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 | $1,040 |
| 3 Bedroom | $80 | $1,300 | $1,380 |
| 4 Bedroom | N/A | N/A | $1,640 |
Affordability — Paynesville, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $324,000 |
| Median Household Income | $81,500 |