Pequot Lakes, MN 56472 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Pequot Lakes, MN—56472

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$421,000

2.6% YoY Growth

Household Income

$81,900

50.9% YoY Growth

Days on Market

24.0% Shorter YoY

Home Price Forecast

1.3%

Median Rent

$2,550

41.4% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$2,550

372.2% YoY Growth

3-Bed Rent

$1,550

26.9% YoY Growth

Home Price Trends — Pequot Lakes, MN

As of May '26, the median home price in Pequot Lakes, MN is $421,000, with a year-over-year change of 2.6%. This indicates that home prices in Pequot Lakes, MN are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$421,000	2.6%
Single Family	$427,000	2.9%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

2.4%

1 Bedroom

45.0%

2 Bedrooms

30.1%

3 Bedrooms

17.3%

4 Bedrooms

5.2%

Property Listings — Pequot Lakes, MN

As of May '26, Realtor.com reports that the median days on market for a home in Pequot Lakes, MN is 49. This is a decrease of -24.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 10.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$465,000	2.0%
Listing Count	118	7.0%
Listings as % of Homes	0.4%	7.0%
Days on Market	49	-24.0%

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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%

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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%

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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%

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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

Pequot Lakes, MN—56472

Key Metrics at a Glance

Home Price Trends — Pequot Lakes, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Pequot Lakes, MN

% of Rental Stock

Property Listings — Pequot Lakes, MN

Demographics — Pequot Lakes, MN

Race and Ethnicity

Mortgage and Risk — Pequot Lakes, MN

Mortgages

Rentals and Section 8 — Pequot Lakes, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Pequot Lakes, MN

Home Price to Income Ratio

Pequot Lakes, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Nisswa, MN

Pine River, MN

Merrifield, MN

Baxter, MN

Pillager, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.6
Median Home Price	$421,000
Median Household Income	$81,900

Pequot Lakes, MN—56472

Key Metrics at a Glance

Home Price Trends — Pequot Lakes, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Pequot Lakes, MN

% of Rental Stock

Property Listings — Pequot Lakes, MN

Demographics — Pequot Lakes, MN

Race and Ethnicity

Mortgage and Risk — Pequot Lakes, MN

Mortgages

Rentals and Section 8 — Pequot Lakes, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Pequot Lakes, MN

Home Price to Income Ratio

Pequot Lakes, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Nisswa, MN

Pine River, MN

Merrifield, MN

Baxter, MN

Pillager, MN

Frequently Asked Questions

What is the average home price in Pequot Lakes, MN 56472?

How have home prices in Pequot Lakes, MN 56472 changed over the past year?

What is the home price projection for Pequot Lakes, MN 56472?

What are the demographics of Pequot Lakes, MN 56472?

How long does it take homes to sell in Pequot Lakes, MN 56472?

What is the average rent price in Pequot Lakes, MN 56472?