Payne-Phalen, Saint Paul, MN—55130
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Payne-Phalen, Saint Paul, MN
As of Aug '25, the median home price in Payne-Phalen, Saint Paul, MN is $248,000, with a year-over-year change of 0.1%. This indicates that home prices in Payne-Phalen, Saint Paul, MN are flat. According to Zillow, the 1-year price projection is -1.1%, suggesting a decrease housing market in the next year.
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $209,000 | -1.4% |
3 Bed | $251,000 | -0.4% |
4 Bed | $265,000 | 0.4% |
| 5 Bed | $286,000 | -0.7% |
Rental Trends — Payne-Phalen, Saint Paul, MN
As of Jul '25, the average rent in Payne-Phalen, Saint Paul, MN is $1,160, with a year-over-year rent change of 5.5%. 1-bedroom units average $926 (9.5%); 2-bedroom units average $1,230 (2.5%); 3-bedroom units average $1,720 (0.0%)
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $995 | $1,160 |
| Studio Rent | $849 | $881 |
| 1 Bed Rent | $885 | $926 |
| 2 Bed Rent | $1,150 | $1,230 |
| 3 Bed Rent | $1,600 | $1,720 |
| 4 Bed Rent | N/A | N/A |
Property Listings — Payne-Phalen, Saint Paul, MN
As of Aug '25 and according to Realtor.com, the median days on market for a home in Payne-Phalen, Saint Paul, MN is 48. This is an decrease of -20.0% from last year. This indicates that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 80.0%. This is a large percentage of inventory, suggesting a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $232,000 | -8.0% |
Listing Count | 23 | N/A |
| Listings as % of Homes | 0.3% | N/A |
Days on Market | 48 | -20.0% |
Demographics — Payne-Phalen, Saint Paul, MN
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,600 | 2.1% |
% Under 18 | 33.0% | -6.2% |
| % Under 5 | N/A | N/A |
% Seniors | 8.4% | 55.6% |
% WFH | 13.2% | 200.0% |
% w/ College Degree | 21.1% | 70.2% |
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 18.6% | -4.1% |
% Black | 21.8% | -1.8% |
% Hispanic | 9.4% | -35.2% |
% Asian | 47.0% | 24.3% |
% Foreign Born | 33.2% | -2.9% |
Mortgage and Risk — Payne-Phalen, Saint Paul, MN
According to the latest data from the U.S. Department of Housing and Urban Development (HUD) as of 2023, the number of mortgages originated in Payne-Phalen, Saint Paul, MN in that year was 187. 77.0% of all primary home loans were conventional, the remainder were government-backed loans, such as FHA loans. The average loan-to-value for all loans was 69.0%. Of those, 45.0% were >90% loan to value. This is considered very high, suggesting that mortgage risk is large in Payne-Phalen, Saint Paul, MN. Investor activity in Payne-Phalen, Saint Paul, MN is low, as 9.0% of all loans are originated by investors. In 2023, 4.0% of all loans were cash-out refinances, suggesting few homeowners are actively tapping their home's equity.
Mortgages
| Metric | Zip Code Average | Metro Average | State Average |
|---|---|---|---|
Total Loan Originations | 187 | N/A | N/A |
% Conventional Loans | 77.0% | N/A | N/A |
% Government Loans | 23.0% | N/A | N/A |
% Investor Loans | 9.0% | N/A | N/A |
% Second Loans | 0.0% | N/A | N/A |
% Cash Out Refinance | 4.0% | N/A | N/A |
Rentals and Section 8 — Payne-Phalen, Saint Paul, MN
As of 2024, the percent of homes in Payne-Phalen, Saint Paul, MN under the Section 8 program is 42.7%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays homeowners more than the average rental market rate for various home sizes. For each bedroom size, the average difference between HUD payments and market rents is shown in the table below.
Section 8 Market Size
Total Units under HUD | 1,412 |
Total Units Section 8 | 1,390 |
% Rentals under Section 8 | 42.7% |
% Occupied Section 8 | 84.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $315 | $885 | $1,200 |
| 2 Bedroom | $310 | $1,150 | $1,460 |
| 3 Bedroom | $370 | $1,600 | $1,970 |
| 4 Bedroom | N/A | N/A | $2,240 |
Affordability — Payne-Phalen, Saint Paul, MN
Home Price to Income Ratio
| Metric | Zip Code Average | Metro Average | State Average |
|---|---|---|---|
| Home Price to Income Ratio | 4.5 | N/A | N/A |
| Median Home Price | $248,000 | N/A | N/A |
| Median Household Income | $53,300 | N/A | N/A |