Backus, MN—56435
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Backus, MN
As of Oct '25, the median home price in Backus, MN is $278,000, with a year-over-year change of 5.5%. This indicates that home prices in Backus, MN are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $278,000 | 5.5% |
| Single Family | $279,000 | 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 | $281,000 | 4.9% |
3 Bed | $340,000 | 4.9% |
4 Bed | $379,000 | 5.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Backus, MN
Backus, 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 — Backus, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Backus, MN is 67. This is a increase of 36.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $334,000 | -7.0% |
Listing Count | 26 | 31.0% |
| Listings as % of Homes | 0.4% | 31.0% |
Days on Market | 67 | 36.0% |
Demographics — Backus, MN
As of the latest ACS Survey released in 2023, Backus, MN has a population of 2,910, which has increased by 16.5% over the past 5 years. Backus, MN is a moderately popular place for families, as children make up 19.0% of the population. The area has a poorly educated workforce, with 16.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,910 | 16.5% |
% Under 18 | 19.0% | -12.4% |
% Seniors | 26.3% | 11.4% |
% WFH | 9.2% | -11.5% |
% w/ College Degree | 16.3% | -12.4% |
As of the latest ACS Survey released in 2023, Backus, MN is a predominantly white area, with 89.8% of the population identifying as white. The white population has shrunk by 6.4% in the last 5 years. The second most common race or ethnicity in Backus, MN is asian, making up 1.4% of the population. Foreign-born residents account for 1.3% of the population in Backus, MN, and this percentage has decreased by 7.1% 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 | 89.8% | -6.4% |
% Black | 0.8% | 0.0% |
% Hispanic | 0.6% | -60.0% |
% Asian | 1.4% | 100.0% |
% Foreign Born | 1.3% | -7.1% |
Mortgage and Risk — Backus, MN
According to HUD data as of 2023, there were 106 mortgage originations in Backus, MN, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Backus, MN. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 106 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 2.0% |
% Second Loans | 25.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Backus, MN
Backus, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 16 |
Total Units Section 8 | 4 |
% 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 | $890 |
| 2 Bedroom | N/A | N/A | $1,000 |
| 3 Bedroom | N/A | N/A | $1,300 |
| 4 Bedroom | N/A | N/A | $1,590 |
Affordability — Backus, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $278,000 |
| Median Household Income | $63,500 |