Wadena, MN—56482
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wadena, MN
Wadena, MN lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $207,000 | 2.9% |
| Single Family | $207,000 | 3.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $204,000 | 2.5% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Wadena, MN
Wadena, 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 — Wadena, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Wadena, MN is 79. This is a increase of 72.0% 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 6.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $310,000 | 11.0% |
Listing Count | 32 | 2.0% |
| Listings as % of Homes | 0.6% | 2.0% |
Days on Market | 79 | 72.0% |
Demographics — Wadena, MN
As of the latest ACS Survey released in 2023, Wadena, MN has a population of 7,490, which has increased by 9.8% over the past 5 years. Wadena, MN is a moderately popular place for families, as children make up 24.9% of the population. The area has a poorly educated workforce, with 15.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,490 | 9.8% |
% Under 18 | 24.9% | 4.2% |
% Seniors | 18.4% | -14.4% |
% WFH | 8.0% | 35.6% |
% w/ College Degree | 15.2% | 17.8% |
As of the latest ACS Survey released in 2023, Wadena, MN is a predominantly white area, with 91.2% of the population identifying as white. The white population has shrunk by 3.4% in the last 5 years. The second most common race or ethnicity in Wadena, MN is hispanic, making up 3.3% of the population. Foreign-born residents account for 2.7% of the population in Wadena, MN, and this percentage has increased by 575.0% 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 | 91.2% | -3.4% |
% Black | 0.7% | -53.3% |
% Hispanic | 3.3% | 37.5% |
% Asian | 0.3% | ∞% |
% Foreign Born | 2.7% | 575.0% |
Mortgage and Risk — Wadena, MN
According to HUD data as of 2023, there were 62 mortgage originations in Wadena, MN, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Wadena, MN. Investor activity is low, as 5.0% 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 | 62 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 5.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Wadena, MN
Wadena, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 256 |
Total Units Section 8 | 195 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 79.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $730 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | N/A | N/A | $1,170 |
| 4 Bedroom | N/A | N/A | $1,260 |
Affordability — Wadena, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $207,000 |
| Median Household Income | $56,400 |