Waite Park, MN 56387 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Waite Park, MN—56387

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$245,000

4.2% YoY Growth

Household Income

$57,400

43.7% YoY Growth

Days on Market

23.0% Longer YoY

Home Price Forecast

2.0%

Median Rent

$975

15.9% YoY Growth

1-Bed Rent

$835

12.4% YoY Growth

2-Bed Rent

$995

14.0% YoY Growth

3-Bed Rent

N/A

Home Price Trends — Waite Park, MN

As of Dec '25, the median home price in Waite Park, MN is $245,000, with a year-over-year change of 4.2%. This indicates that home prices in Waite Park, 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	$245,000	4.2%
Single Family	$249,000	4.2%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Waite Park, MN

As of July '25, Rentcast reports the average rent in Waite Park, MN is $1,120, with a year-over-year rent change of 15.9%. Per bedroom, the median rent as of July '25 in Waite Park, MN is 1-bedrooms: $818, 2-bedrooms: $1,140, 4-bedrooms: $1,800. The most common rental property sizes in Waite Park, MN are 2-bedroom and 1-bedroom, accounting for 67.9% and 18.9% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$975	$1,120
Studio Rent	N/A	N/A
1 Bed Rent	$835	$818
2 Bed Rent	$995	$1,140
3 Bed Rent	N/A	N/A
4 Bed Rent	$1,800	$1,800

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% of Rental Stock

Studio

2.8%

1 Bedroom

18.9%

2 Bedrooms

67.9%

3 Bedrooms

9.5%

4 Bedrooms

0.9%

Property Listings — Waite Park, MN

As of Dec '25, Realtor.com reports that the median days on market for a home in Waite Park, MN is 68. This is a increase of 22.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$286,000	-2.0%
Listing Count	19	-17.0%
Listings as % of Homes	0.3%	-17.0%
Days on Market	55	23.0%

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Demographics — Waite Park, MN

As of the latest ACS Survey released in 2023, Waite Park, MN has a population of 7,700, which has increased by 5.3% over the past 5 years. Waite Park, MN is a popular place for families, as children make up 25.5% of the population. The area has a poorly educated workforce, with 19.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	7,700	5.3%
% Under 18	25.5%	15.9%
% Seniors	20.2%	23.9%
% WFH	5.0%	22.0%
% w/ College Degree	19.0%	6.1%

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As of the latest ACS Survey released in 2023, Waite Park, MN is a predominantly white area, with 52.7% of the population identifying as white. The white population has shrunk by 21.5% in the last 5 years. The second most common race or ethnicity in Waite Park, MN is black, making up 37.6% of the population. Foreign-born residents account for 23.2% of the population in Waite Park, MN, and this percentage has increased by 23.4% 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	52.7%	-21.5%
% Black	37.6%	105.5%
% Hispanic	4.8%	-43.5%
% Asian	1.8%	-52.6%
% Foreign Born	23.2%	23.4%

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Mortgage and Risk — Waite Park, MN

According to HUD data as of 2023, there were 109 mortgage originations in Waite Park, MN, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Waite Park, MN. Investor activity is low, as 7.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	109
% Conventional Loans	77.0%
% Government Loans	23.0%
% Investor Loans	7.0%
% Second Loans	1.0%
% Cash Out Refinance	13.0%

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Rentals and Section 8 — Waite Park, MN

Waite Park, MN lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	105
Total Units Section 8	105
% Rentals under Section 8	5.9%
% Occupied Section 8	79.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$85	$835	$920
2 Bedroom	$205	$995	$1,200
3 Bedroom	N/A	N/A	$1,570
4 Bedroom	$70	$1,800	$1,870

Waite Park, MN—56387

Key Metrics at a Glance

Home Price Trends — Waite Park, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Waite Park, MN

% of Rental Stock

Property Listings — Waite Park, MN

Demographics — Waite Park, MN

Race and Ethnicity

Mortgage and Risk — Waite Park, MN

Mortgages

Rentals and Section 8 — Waite Park, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Waite Park, MN

Home Price to Income Ratio

Waite Park, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Saint Cloud, MN

Saint Cloud, MN

Sartell, MN

Rockville

Saint Joseph, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.8
Median Home Price	$245,000
Median Household Income	$57,400

Waite Park, MN—56387

Key Metrics at a Glance

Home Price Trends — Waite Park, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Waite Park, MN

% of Rental Stock

Property Listings — Waite Park, MN

Demographics — Waite Park, MN

Race and Ethnicity

Mortgage and Risk — Waite Park, MN

Mortgages

Rentals and Section 8 — Waite Park, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Waite Park, MN

Home Price to Income Ratio

Waite Park, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Saint Cloud, MN

Saint Cloud, MN

Sartell, MN

Rockville

Saint Joseph, MN

Frequently Asked Questions

What is the average home price in Waite Park, MN 56387?

How have home prices in Waite Park, MN 56387 changed over the past year?

What is the home price projection for Waite Park, MN 56387?

What are the demographics of Waite Park, MN 56387?

How long does it take homes to sell in Waite Park, MN 56387?

What is the average rent price in Waite Park, MN 56387?