Red Lake Falls, MN—56750
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Red Lake Falls, MN
Red Lake Falls, MN lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $211,000 | 2.0% |
| Single Family | $211,000 | 3.4% |
| 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 — Red Lake Falls, MN
Red Lake Falls, 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 — Red Lake Falls, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Red Lake Falls, MN is 66. This is a increase of 64.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $168,000 | -36.0% |
Listing Count | 10 | 121.0% |
| Listings as % of Homes | 0.7% | 121.0% |
Days on Market | 66 | 64.0% |
Demographics — Red Lake Falls, MN
As of the latest ACS Survey released in 2023, Red Lake Falls, MN has a population of 2,280, which has remained stable by -0.9% over the past 5 years. Red Lake Falls, MN is a moderately popular place for families, as children make up 23.1% of the population. The area has a poorly educated workforce, with 18.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,280 | -0.9% |
% Under 18 | 23.1% | -4.9% |
% Seniors | 23.9% | 26.5% |
% WFH | 11.0% | 168.3% |
% w/ College Degree | 18.4% | -7.5% |
As of the latest ACS Survey released in 2023, Red Lake Falls, MN is a predominantly white area, with 90.6% of the population identifying as white. The white population has shrunk by 0.8% in the last 5 years. The second most common race or ethnicity in Red Lake Falls, MN is hispanic, making up 3.4% of the population. Foreign-born residents account for 1.1% of the population in Red Lake Falls, MN, and this percentage has increased by 10.0% 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 | 90.6% | -0.8% |
% Black | 0.4% | 300.0% |
% Hispanic | 3.4% | -22.7% |
% Asian | 0.5% | 400.0% |
% Foreign Born | 1.1% | 10.0% |
Mortgage and Risk — Red Lake Falls, MN
According to HUD data as of 2023, there were 25 mortgage originations in Red Lake Falls, MN, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 92.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Red Lake Falls, MN. Investor activity is low, as 4.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 25 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Red Lake Falls, MN
Red Lake Falls, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 75 |
Total Units Section 8 | 52 |
% Rentals under Section 8 | 35.9% |
% Occupied Section 8 | 75.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $760 |
| 2 Bedroom | N/A | N/A | $990 |
| 3 Bedroom | N/A | N/A | $1,270 |
| 4 Bedroom | N/A | N/A | $1,440 |
Affordability — Red Lake Falls, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $211,000 |
| Median Household Income | $74,700 |