Pequot Lakes, MN—56472
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Pequot Lakes, MN
As of Oct '25, the median home price in Pequot Lakes, MN is $405,000, with a year-over-year change of 2.7%. This indicates that home prices in Pequot Lakes, MN are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $405,000 | 2.7% |
| Single Family | $411,000 | 2.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $240,000 | 5.7% |
2 Bed | $323,000 | 2.5% |
3 Bed | $418,000 | 2.7% |
4 Bed | $494,000 | 3.1% |
| 5 Bed | $587,000 | 2.8% |
% of Housing Stock
Rental Trends — Pequot Lakes, MN
As of July '25, Rentcast reports the average rent in Pequot Lakes, MN is $2,870, with a year-over-year rent change of 41.4%. Per bedroom, the median rent as of July '25 in Pequot Lakes, MN is 2-bedrooms: $2,550, 3-bedrooms: $3,020. The most common rental property sizes in Pequot Lakes, MN are 1-bedroom and 2-bedroom, accounting for 45.0% and 30.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,550 | $2,870 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,550 | $2,550 |
| 3 Bed Rent | $1,550 | $3,020 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Pequot Lakes, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Pequot Lakes, MN is 58. This is a increase of 25.0% 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 | $410,000 | -6.0% |
Listing Count | 93 | 0.0% |
| Listings as % of Homes | 0.4% | 0.0% |
Days on Market | 58 | 25.0% |
Demographics — Pequot Lakes, MN
As of the latest ACS Survey released in 2023, Pequot Lakes, MN has a population of 8,760, which has increased by 11.6% over the past 5 years. Pequot Lakes, MN is a moderately popular place for families, as children make up 23.5% of the population. The area has a moderately educated workforce, with 33.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,760 | 11.6% |
% Under 18 | 23.5% | 0.0% |
% Seniors | 23.6% | 9.3% |
% WFH | 17.6% | 114.6% |
% w/ College Degree | 33.8% | 9.4% |
As of the latest ACS Survey released in 2023, Pequot Lakes, MN is a predominantly white area, with 92.7% of the population identifying as white. The white population has shrunk by 5.7% in the last 5 years. The second most common race or ethnicity in Pequot Lakes, MN is hispanic, making up 1.6% of the population. Foreign-born residents account for 0.9% of the population in Pequot Lakes, MN, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 92.7% | -5.7% |
% Black | 0.2% | -50.0% |
% Hispanic | 1.6% | 166.7% |
% Asian | 0.4% | 100.0% |
% Foreign Born | 0.9% | 0.0% |
Mortgage and Risk — Pequot Lakes, MN
According to HUD data as of 2023, there were 256 mortgage originations in Pequot Lakes, MN, of which 93.0% 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 Pequot Lakes, MN. Investor activity is low, as 5.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 256 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 5.0% |
% Second Loans | 30.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Pequot Lakes, MN
Pequot Lakes, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 66 |
Total Units Section 8 | 42 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $770 |
| 2 Bedroom | -$1,550 | $2,550 | $1,000 |
| 3 Bedroom | -$310 | $1,550 | $1,240 |
| 4 Bedroom | N/A | N/A | $1,410 |
Affordability — Pequot Lakes, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $405,000 |
| Median Household Income | $81,900 |