Orono, MN—55356
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Orono, MN
As of Oct '25, the median home price in Orono, MN is $777,000, with a year-over-year change of 3.5%. This indicates that home prices in Orono, MN are increasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $777,000 | 3.5% |
| Single Family | $824,000 | 3.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $400,000 | 4.4% |
3 Bed | $538,000 | 2.7% |
4 Bed | $963,000 | 3.1% |
| 5 Bed | $1,559,000 | 2.8% |
% of Housing Stock
Rental Trends — Orono, MN
As of July '25, Rentcast reports the average rent in Orono, MN is $2,820, with a year-over-year rent change of -19.2%. Per bedroom, the median rent as of July '25 in Orono, MN is 1-bedrooms: $1,720, 2-bedrooms: $2,650, 3-bedrooms: $3,200, 4-bedrooms: $4,380. The most common rental property sizes in Orono, MN are 1-bedroom and 2-bedroom, accounting for 33.2% and 28.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,650 | $2,820 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,920 | $1,720 |
| 2 Bed Rent | $2,650 | $2,650 |
| 3 Bed Rent | $3,200 | $3,200 |
| 4 Bed Rent | $3,650 | $4,380 |
% of Rental Stock
Property Listings — Orono, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Orono, MN is 40. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,310,000 | -5.0% |
Listing Count | 38 | -20.0% |
| Listings as % of Homes | 0.8% | -20.0% |
Days on Market | 40 | -1.0% |
Demographics — Orono, MN
As of the latest ACS Survey released in 2023, Orono, MN has a population of 5,920, which has increased by 9.1% over the past 5 years. Orono, MN is a popular place for families, as children make up 28.9% of the population. The area has a highly educated workforce, with 64.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,920 | 9.1% |
% Under 18 | 28.9% | 8.2% |
% Seniors | 15.8% | -6.5% |
% WFH | 28.5% | 231.4% |
% w/ College Degree | 64.2% | 8.1% |
As of the latest ACS Survey released in 2023, Orono, MN is a predominantly white area, with 85.1% of the population identifying as white. The white population has shrunk by 9.5% in the last 5 years. The second most common race or ethnicity in Orono, MN is asian, making up 3.4% of the population. Foreign-born residents account for 2.3% of the population in Orono, MN, and this percentage has decreased by 34.3% 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 | 85.1% | -9.5% |
% Black | 1.2% | -14.3% |
% Hispanic | 1.6% | 45.5% |
% Asian | 3.4% | 70.0% |
% Foreign Born | 2.3% | -34.3% |
Mortgage and Risk — Orono, MN
According to HUD data as of 2023, there were 144 mortgage originations in Orono, MN, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Orono, MN. Investor activity is low, as 3.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 144 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Orono, MN
As of 2024, the percent of homes in Orono, MN under the Section 8 program is 16.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Orono, MN, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 46 |
Total Units Section 8 | 46 |
% Rentals under Section 8 | 16.3% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$190 | $1,920 | $1,730 |
| 2 Bedroom | -$540 | $2,650 | $2,110 |
| 3 Bedroom | -$390 | $3,200 | $2,810 |
| 4 Bedroom | -$500 | $3,650 | $3,150 |
Affordability — Orono, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $777,000 |
| Median Household Income | $171,000 |