Northome, MN—56661
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Northome, MN
Northome, MN lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $189,000 | -0.9% |
| Single Family | $189,000 | -2.1% |
| 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 | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Northome, MN
Northome, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $610 | $610 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $610 | $610 |
| 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 — Northome, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Northome, MN is 67. This is a increase of 4.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $335,000 | -7.0% |
Listing Count | 9 | -7.0% |
| Listings as % of Homes | 0.7% | -7.0% |
Days on Market | 67 | 4.0% |
Demographics — Northome, MN
As of the latest ACS Survey released in 2023, Northome, MN has a population of 911, which has increased by 5.3% over the past 5 years. Northome, MN is a moderately popular place for families, as children make up 21.2% of the population. The area has a poorly educated workforce, with 20.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 911 | 5.3% |
% Under 18 | 21.2% | -0.5% |
% Seniors | 33.9% | 34.5% |
% WFH | 9.6% | -27.8% |
% w/ College Degree | 20.3% | 45.0% |
As of the latest ACS Survey released in 2023, Northome, MN is a predominantly white area, with 89.9% of the population identifying as white. The white population has shrunk by 2.0% in the last 5 years. The second most common race or ethnicity in Northome, MN is asian, making up 3.5% of the population. Foreign-born residents account for 2.3% of the population in Northome, MN, and this percentage has increased by 130.0% 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 | 89.9% | -2.0% |
% Black | 0.0% | N/A |
% Hispanic | 0.8% | -11.1% |
% Asian | 3.5% | 3,400.0% |
% Foreign Born | 2.3% | 130.0% |
Mortgage and Risk — Northome, MN
According to HUD data as of 2023, there were 30 mortgage originations in Northome, MN, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Northome, MN. Investor activity is low, as 0.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 30 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 0.0% |
% Second Loans | 27.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Northome, MN
Northome, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 10 |
Total Units Section 8 | 10 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $160 | $610 | $770 |
| 2 Bedroom | N/A | N/A | $1,010 |
| 3 Bedroom | N/A | N/A | $1,220 |
| 4 Bedroom | N/A | N/A | $1,420 |
Affordability — Northome, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $189,000 |
| Median Household Income | $68,400 |