Cannon Falls, MN—55009
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cannon Falls, MN
As of Nov '25, the median home price in Cannon Falls, MN is $371,000, with a year-over-year change of 4.4%. This indicates that home prices in Cannon Falls, MN are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $371,000 | 4.4% |
| Single Family | $373,000 | 4.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $281,000 | 5.2% |
3 Bed | $354,000 | 4.7% |
4 Bed | $451,000 | 4.6% |
| 5 Bed | $515,356 | 5.1% |
% of Housing Stock
Rental Trends — Cannon Falls, MN
As of July '25, Rentcast reports the average rent in Cannon Falls, MN is $1,210, with a year-over-year rent change of -37.3%. Per bedroom, the median rent as of July '25 in Cannon Falls, MN is studios: $1,060, 1-bedrooms: $813, 4-bedrooms: $2,550. The most common rental property sizes in Cannon Falls, MN are 1-bedroom and 2-bedroom, accounting for 50.4% and 29.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $970 | $1,210 |
| Studio Rent | $1,060 | $1,060 |
| 1 Bed Rent | $970 | $813 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $2,550 | $2,550 |
% of Rental Stock
Property Listings — Cannon Falls, MN
As of Nov '25, Realtor.com reports that the median days on market for a home in Cannon Falls, MN is 93. This is a increase of 14.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $473,000 | -1.0% |
Listing Count | 33 | 47.0% |
| Listings as % of Homes | 0.1% | 47.0% |
Days on Market | 93 | 14.0% |
Demographics — Cannon Falls, MN
As of the latest ACS Survey released in 2023, Cannon Falls, MN has a population of 8,260, which has increased by 6.4% over the past 5 years. Cannon Falls, MN is a moderately popular place for families, as children make up 20.4% of the population. The area has a moderately educated workforce, with 26.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,260 | 6.4% |
% Under 18 | 20.4% | 0.0% |
% Seniors | 20.3% | 18.7% |
% WFH | 11.4% | 171.4% |
% w/ College Degree | 26.6% | 6.4% |
As of the latest ACS Survey released in 2023, Cannon Falls, MN is a predominantly white area, with 92.8% of the population identifying as white. The white population has shrunk by 3.1% in the last 5 years. The second most common race or ethnicity in Cannon Falls, MN is asian, making up 0.5% of the population. Foreign-born residents account for 1.3% of the population in Cannon Falls, MN, and this percentage has decreased by 38.1% 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 | 92.8% | -3.1% |
% Black | 0.3% | 200.0% |
% Hispanic | 0.5% | -66.7% |
% Asian | 0.5% | 0.0% |
% Foreign Born | 1.3% | -38.1% |
Mortgage and Risk — Cannon Falls, MN
According to HUD data as of 2023, there were 136 mortgage originations in Cannon Falls, MN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Cannon Falls, MN. Investor activity is low, as 4.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 136 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Rentals and Section 8 — Cannon Falls, MN
Cannon Falls, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 116 |
Total Units Section 8 | 115 |
% Rentals under Section 8 | 20.0% |
% Occupied Section 8 | 90.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $230 | $970 | $1,200 |
| 2 Bedroom | N/A | N/A | $1,460 |
| 3 Bedroom | N/A | N/A | $1,970 |
| 4 Bedroom | -$310 | $2,550 | $2,240 |
Affordability — Cannon Falls, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $371,000 |
| Median Household Income | $89,000 |