Fergus Falls, MN—56537
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fergus Falls, MN
As of Oct '25, the median home price in Fergus Falls, MN is $237,000, with a year-over-year change of 5.1%. This indicates that home prices in Fergus Falls, MN are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $237,000 | 5.1% |
| Single Family | $240,000 | 4.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $176,000 | 4.8% |
3 Bed | $221,000 | 4.2% |
4 Bed | $285,000 | 4.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Fergus Falls, MN
As of July '25, Rentcast reports the average rent in Fergus Falls, MN is $941, with a year-over-year rent change of -3.2%. Per bedroom, the median rent as of July '25 in Fergus Falls, MN is 1-bedrooms: $869, 2-bedrooms: $977, 3-bedrooms: $1,040, 4-bedrooms: $1,200. The most common rental property sizes in Fergus Falls, MN are 2-bedroom and 1-bedroom, accounting for 39.9% and 28.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $865 | $941 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $800 | $869 |
| 2 Bed Rent | $1,060 | $977 |
| 3 Bed Rent | $895 | $1,040 |
| 4 Bed Rent | $1,200 | $1,200 |
% of Rental Stock
Property Listings — Fergus Falls, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Fergus Falls, MN is 65. This is a increase of 28.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $328,000 | 23.0% |
Listing Count | 84 | 18.0% |
| Listings as % of Homes | 0.3% | 18.0% |
Days on Market | 65 | 28.0% |
Demographics — Fergus Falls, MN
As of the latest ACS Survey released in 2023, Fergus Falls, MN has a population of 19,600, which has increased by 4.0% over the past 5 years. Fergus Falls, MN is a moderately popular place for families, as children make up 22.7% of the population. The area has a moderately educated workforce, with 29.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,600 | 4.0% |
% Under 18 | 22.7% | 8.6% |
% Seniors | 22.2% | -0.9% |
% WFH | 10.8% | 92.9% |
% w/ College Degree | 29.8% | 6.4% |
As of the latest ACS Survey released in 2023, Fergus Falls, MN is a predominantly white area, with 90.9% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Fergus Falls, MN is hispanic, making up 1.7% of the population. Foreign-born residents account for 1.6% of the population in Fergus Falls, MN, and this percentage has decreased by 27.3% 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 | 90.9% | -2.2% |
% Black | 1.1% | -45.0% |
% Hispanic | 1.7% | -43.3% |
% Asian | 1.6% | 128.6% |
% Foreign Born | 1.6% | -27.3% |
Mortgage and Risk — Fergus Falls, MN
According to HUD data as of 2023, there were 442 mortgage originations in Fergus Falls, MN, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Fergus Falls, MN. Investor activity is low, as 6.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 442 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 6.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Fergus Falls, MN
Fergus Falls, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 543 |
Total Units Section 8 | 476 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 78.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$90 | $800 | $710 |
| 2 Bedroom | -$130 | $1,060 | $930 |
| 3 Bedroom | $395 | $895 | $1,290 |
| 4 Bedroom | $190 | $1,200 | $1,390 |
Affordability — Fergus Falls, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $237,000 |
| Median Household Income | $62,300 |