Red Lake Falls, MN 56750 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Red Lake Falls, MN—56750

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$223,000

10.3% YoY Growth

Household Income

$74,700

22.2% YoY Growth

Days on Market

189

123.0% Longer YoY

Home Price Forecast

N/A

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

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	$223,000	10.3%
Single Family	$222,000	10.4%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

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

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% of Rental Stock

Studio

7.6%

1 Bedroom

27.6%

2 Bedrooms

40.7%

3 Bedrooms

20.7%

4 Bedrooms

1.4%

5+ Bedrooms

2.1%

Property Listings — Red Lake Falls, MN

As of May '26, Realtor.com reports that the median days on market for a home in Red Lake Falls, MN is 189. This is a increase of 123.0% 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	$170,000	-12.0%
Listing Count	10	21.0%
Listings as % of Homes	0.7%	21.0%
Days on Market	189	123.0%

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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%

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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%

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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%

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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

Red Lake Falls, MN—56750

Key Metrics at a Glance

Home Price Trends — Red Lake Falls, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Red Lake Falls, MN

% of Rental Stock

Property Listings — Red Lake Falls, MN

Demographics — Red Lake Falls, MN

Race and Ethnicity

Mortgage and Risk — Red Lake Falls, MN

Mortgages

Rentals and Section 8 — Red Lake Falls, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Red Lake Falls, MN

Home Price to Income Ratio

Red Lake Falls, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Mentor, MN

Crookston, MN

Erskine, MN

Fertile, MN

Euclid, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.8
Median Home Price	$223,000
Median Household Income	$74,700

Red Lake Falls, MN—56750

Key Metrics at a Glance

Home Price Trends — Red Lake Falls, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Red Lake Falls, MN

% of Rental Stock

Property Listings — Red Lake Falls, MN

Demographics — Red Lake Falls, MN

Race and Ethnicity

Mortgage and Risk — Red Lake Falls, MN

Mortgages

Rentals and Section 8 — Red Lake Falls, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Red Lake Falls, MN

Home Price to Income Ratio

Red Lake Falls, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Mentor, MN

Crookston, MN

Erskine, MN

Fertile, MN

Euclid, MN

Frequently Asked Questions

What is the average home price in Red Lake Falls, MN 56750?

How have home prices in Red Lake Falls, MN 56750 changed over the past year?

What is the home price projection for Red Lake Falls, MN 56750?

What are the demographics of Red Lake Falls, MN 56750?

How long does it take homes to sell in Red Lake Falls, MN 56750?

What is the average rent price in Red Lake Falls, MN 56750?