Perham, MN—56573
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Perham, MN
As of Oct '25, the median home price in Perham, MN is $346,000, with a year-over-year change of 3.8%. This indicates that home prices in Perham, MN are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $346,000 | 3.8% |
| Single Family | $348,000 | 3.3% |
| 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 | $334,000 | 3.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Perham, MN
As of July '25, Rentcast reports the average rent in Perham, MN is $1,730, with a year-over-year rent change of 15.3%. Per bedroom, the median rent as of July '25 in Perham, MN is 3-bedrooms: $1,800, 4-bedrooms: $1,600. The most common rental property sizes in Perham, MN are 2-bedroom and 3-bedroom, accounting for 35.3% and 25.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,730 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,200 | $1,800 |
| 4 Bed Rent | $1,600 | $1,600 |
% of Rental Stock
Property Listings — Perham, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Perham, MN is 71. This is a decrease of -34.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $384,000 | -1.0% |
Listing Count | 42 | 1.0% |
| Listings as % of Homes | 0.4% | 1.0% |
Days on Market | 71 | -34.0% |
Demographics — Perham, MN
As of the latest ACS Survey released in 2023, Perham, MN has a population of 6,870, which has increased by 10.6% over the past 5 years. Perham, MN is a moderately popular place for families, as children make up 24.8% of the population. The area has a moderately educated workforce, with 29.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,870 | 10.6% |
% Under 18 | 24.8% | 8.8% |
% Seniors | 22.2% | 5.2% |
% WFH | 8.1% | 92.9% |
% w/ College Degree | 29.5% | 5.4% |
As of the latest ACS Survey released in 2023, Perham, MN is a predominantly white area, with 86.2% of the population identifying as white. The white population has shrunk by 7.1% in the last 5 years. The second most common race or ethnicity in Perham, MN is hispanic, making up 8.6% of the population. Foreign-born residents account for 5.2% of the population in Perham, MN, and this percentage has increased by 246.7% 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 | 86.2% | -7.1% |
% Black | 1.0% | 900.0% |
% Hispanic | 8.6% | 65.4% |
% Asian | 0.1% | -75.0% |
% Foreign Born | 5.2% | 246.7% |
Mortgage and Risk — Perham, MN
According to HUD data as of 2023, there were 93 mortgage originations in Perham, MN, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Perham, MN. Investor activity is low, as 0.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 93 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 0.0% |
% Second Loans | 20.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Perham, MN
Perham, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 127 |
Total Units Section 8 | 92 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 84.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $710 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | $90 | $1,200 | $1,290 |
| 4 Bedroom | -$240 | $1,600 | $1,360 |
Affordability — Perham, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $346,000 |
| Median Household Income | $68,100 |