Baxter, MN—56425
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Baxter, MN
As of Oct '25, the median home price in Baxter, MN is $357,000, with a year-over-year change of 4.1%. This indicates that home prices in Baxter, 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 | $357,000 | 4.1% |
| Single Family | $357,000 | 3.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $306,000 | 3.4% |
3 Bed | $340,000 | 3.7% |
4 Bed | $370,000 | 5.1% |
| 5 Bed | $432,000 | 4.3% |
% of Housing Stock
Rental Trends — Baxter, MN
As of July '25, Rentcast reports the average rent in Baxter, MN is $1,350, with a year-over-year rent change of 4.7%. Per bedroom, the median rent as of July '25 in Baxter, MN is 2-bedrooms: $1,240, 3-bedrooms: $2,080, 4-bedrooms: $1,800. The most common rental property sizes in Baxter, MN are 2-bedroom and 1-bedroom, accounting for 46.5% and 35.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,220 | $1,350 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,220 | $1,240 |
| 3 Bed Rent | $1,850 | $2,080 |
| 4 Bed Rent | $1,800 | $1,800 |
% of Rental Stock
Property Listings — Baxter, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Baxter, MN is 48. This is a increase of 9.0% 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 | $425,000 | 14.0% |
Listing Count | 58 | 4.0% |
| Listings as % of Homes | 0.6% | 4.0% |
Days on Market | 48 | 9.0% |
Demographics — Baxter, MN
As of the latest ACS Survey released in 2023, Baxter, MN has a population of 8,730, which has increased by 6.6% over the past 5 years. Baxter, MN is a moderately popular place for families, as children make up 21.4% of the population. The area has a moderately educated workforce, with 37.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,730 | 6.6% |
% Under 18 | 21.4% | -18.0% |
% Seniors | 23.6% | 29.7% |
% WFH | 16.7% | 297.6% |
% w/ College Degree | 37.9% | 15.5% |
As of the latest ACS Survey released in 2023, Baxter, MN is a predominantly white area, with 95.2% of the population identifying as white. The white population has grown by 2.8% in the last 5 years. The second most common race or ethnicity in Baxter, MN is hispanic, making up 3.6% of the population. Foreign-born residents account for 1.7% of the population in Baxter, MN, and this percentage has decreased by 29.2% 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 | 95.2% | 2.8% |
% Black | 0.1% | -80.0% |
% Hispanic | 3.6% | 300.0% |
% Asian | 0.6% | -60.0% |
% Foreign Born | 1.7% | -29.2% |
Mortgage and Risk — Baxter, MN
According to HUD data as of 2023, there were 120 mortgage originations in Baxter, MN, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Baxter, MN. Investor activity is low, as 3.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 120 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 3.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Baxter, MN
Baxter, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 67 |
Total Units Section 8 | 67 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $950 |
| 2 Bedroom | $20 | $1,220 | $1,240 |
| 3 Bedroom | -$350 | $1,850 | $1,500 |
| 4 Bedroom | -$20 | $1,800 | $1,780 |
Affordability — Baxter, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $357,000 |
| Median Household Income | $71,300 |