Duluth, MN—55811
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Duluth, MN
As of Oct '25, the median home price in Duluth, MN is $344,000, with a year-over-year change of 5.5%. This indicates that home prices in Duluth, MN are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $344,000 | 5.5% |
| Single Family | $343,000 | 5.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $202,000 | 8.0% |
2 Bed | $285,000 | 6.7% |
3 Bed | $343,000 | 6.2% |
4 Bed | $442,000 | 5.7% |
| 5 Bed | $578,000 | 4.7% |
% of Housing Stock
Rental Trends — Duluth, MN
As of July '25, Rentcast reports the average rent in Duluth, MN is $1,940, with a year-over-year rent change of 14.8%. Per bedroom, the median rent as of July '25 in Duluth, MN is studios: $1,440, 1-bedrooms: $1,580, 2-bedrooms: $1,820, 3-bedrooms: $2,570, 4-bedrooms: $3,180. The most common rental property sizes in Duluth, MN are 2-bedroom and 1-bedroom, accounting for 37.3% and 33.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,780 | $1,940 |
| Studio Rent | $1,420 | $1,440 |
| 1 Bed Rent | $1,700 | $1,580 |
| 2 Bed Rent | $1,700 | $1,820 |
| 3 Bed Rent | $2,450 | $2,570 |
| 4 Bed Rent | $3,000 | $3,180 |
% of Rental Stock
Property Listings — Duluth, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Duluth, MN is 37. This is a decrease of -8.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $475,000 | 0.0% |
Listing Count | 75 | -18.0% |
| Listings as % of Homes | 0.2% | -18.0% |
Days on Market | 37 | -8.0% |
Demographics — Duluth, MN
As of the latest ACS Survey released in 2023, Duluth, MN has a population of 27,900, which has increased by 1.3% over the past 5 years. Duluth, MN is a moderately popular place for families, as children make up 18.6% of the population. The area has a moderately educated workforce, with 41.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,900 | 1.3% |
% Under 18 | 18.6% | -1.6% |
% Seniors | 20.8% | 4.0% |
% WFH | 9.6% | 242.9% |
% w/ College Degree | 41.1% | 14.8% |
As of the latest ACS Survey released in 2023, Duluth, MN is a predominantly white area, with 91.5% of the population identifying as white. The white population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Duluth, MN is hispanic, making up 2.0% of the population. Foreign-born residents account for 2.4% of the population in Duluth, MN, and this percentage has decreased by 31.4% 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 | 91.5% | -1.2% |
% Black | 1.2% | -14.3% |
% Hispanic | 2.0% | 11.1% |
% Asian | 1.7% | 21.4% |
% Foreign Born | 2.4% | -31.4% |
Mortgage and Risk — Duluth, MN
According to HUD data as of 2023, there were 428 mortgage originations in Duluth, MN, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Duluth, MN. Investor activity is low, as 1.0% 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 | 428 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Duluth, MN
As of 2024, the percent of homes in Duluth, MN under the Section 8 program is 10.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Duluth, 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 | 384 |
Total Units Section 8 | 310 |
% Rentals under Section 8 | 10.2% |
% Occupied Section 8 | 87.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$570 | $1,700 | $1,130 |
| 2 Bedroom | -$260 | $1,700 | $1,440 |
| 3 Bedroom | -$510 | $2,450 | $1,940 |
| 4 Bedroom | -$580 | $3,000 | $2,420 |
Affordability — Duluth, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $344,000 |
| Median Household Income | $77,900 |