Two Harbors, MN 55616 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Two Harbors, MN—55616

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$285,000

0.5% YoY Growth

Household Income

$77,200

25.2% YoY Growth

Days on Market

25.0% Longer YoY

Home Price Forecast

2.9%

Median Rent

$600

83.2% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Two Harbors, MN

As of Dec '25, the median home price in Two Harbors, MN is $285,000, with a year-over-year change of 0.5%. This indicates that home prices in Two Harbors, MN are flat. According to Zillow, the 1-year price projection is 2.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$285,000	0.5%
Single Family	$286,000	1.1%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Two Harbors, MN

As of July '25, Rentcast reports the average rent in Two Harbors, MN is $600, with a year-over-year rent change of -83.2%. Per bedroom, the median rent as of July '25 in Two Harbors, MN is 4-bedrooms: $600. The most common rental property sizes in Two Harbors, MN are 2-bedroom and 1-bedroom, accounting for 52.1% and 31.2% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$600	$600
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	$600	$600

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% of Rental Stock

1 Bedroom

31.2%

2 Bedrooms

52.1%

3 Bedrooms

12.9%

4 Bedrooms

2.1%

5+ Bedrooms

1.8%

Property Listings — Two Harbors, MN

As of Dec '25, Realtor.com reports that the median days on market for a home in Two Harbors, MN is 91. This is a increase of 38.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$250,000	-3.0%
Listing Count	53	62.0%
Listings as % of Homes	0.4%	62.0%
Days on Market	98	25.0%

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Demographics — Two Harbors, MN

As of the latest ACS Survey released in 2023, Two Harbors, MN has a population of 7,280, which has increased by 5.7% over the past 5 years. Two Harbors, MN is a moderately popular place for families, as children make up 21.7% of the population. The area has a poorly educated workforce, with 24.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	7,280	5.7%
% Under 18	21.7%	8.5%
% Seniors	21.7%	-1.4%
% WFH	11.2%	83.6%
% w/ College Degree	24.2%	-12.0%

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As of the latest ACS Survey released in 2023, Two Harbors, MN is a predominantly white area, with 95.4% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Two Harbors, MN is hispanic, making up 1.3% of the population. Foreign-born residents account for 0.5% of the population in Two Harbors, MN, and this percentage has decreased by 64.3% 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	95.4%	-1.3%
% Black	0.5%	-44.4%
% Hispanic	1.3%	44.4%
% Asian	0.0%	-100.0%
% Foreign Born	0.5%	-64.3%

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Mortgage and Risk — Two Harbors, MN

According to HUD data as of 2023, there were 174 mortgage originations in Two Harbors, MN, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Two Harbors, MN. Investor activity is low, as 3.0% of loans were by investors. 28.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	174
% Conventional Loans	89.0%
% Government Loans	11.0%
% Investor Loans	3.0%
% Second Loans	10.0%
% Cash Out Refinance	28.0%

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Rentals and Section 8 — Two Harbors, MN

Two Harbors, MN lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	142
Total Units Section 8	84
% Rentals under Section 8	14.4%
% Occupied Section 8	87.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$990
2 Bedroom	N/A	N/A	$1,300
3 Bedroom	N/A	N/A	$1,570
4 Bedroom	$1,580	$600	$2,180

Two Harbors, MN—55616

Key Metrics at a Glance

Home Price Trends — Two Harbors, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Two Harbors, MN

% of Rental Stock

Property Listings — Two Harbors, MN

Demographics — Two Harbors, MN

Race and Ethnicity

Mortgage and Risk — Two Harbors, MN

Mortgages

Rentals and Section 8 — Two Harbors, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Two Harbors, MN

Home Price to Income Ratio

Two Harbors, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Brimson, MN

Lax Lake, MN

Beaver Bay

Knife River

Duluth, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.3
Median Home Price	$285,000
Median Household Income	$77,200

Two Harbors, MN—55616

Key Metrics at a Glance

Home Price Trends — Two Harbors, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Two Harbors, MN

% of Rental Stock

Property Listings — Two Harbors, MN

Demographics — Two Harbors, MN

Race and Ethnicity

Mortgage and Risk — Two Harbors, MN

Mortgages

Rentals and Section 8 — Two Harbors, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Two Harbors, MN

Home Price to Income Ratio

Two Harbors, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Brimson, MN

Lax Lake, MN

Beaver Bay

Knife River

Duluth, MN

Frequently Asked Questions

What is the average home price in Two Harbors, MN 55616?

How have home prices in Two Harbors, MN 55616 changed over the past year?

What is the home price projection for Two Harbors, MN 55616?

What are the demographics of Two Harbors, MN 55616?

How long does it take homes to sell in Two Harbors, MN 55616?

What is the average rent price in Two Harbors, MN 55616?