Byron, MN—55920
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Byron, MN
As of Oct '25, the median home price in Byron, MN is $390,000, with a year-over-year change of 3.0%. This indicates that home prices in Byron, MN are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $390,000 | 3.0% |
| Single Family | $391,000 | 2.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $308,000 | 2.7% |
3 Bed | $346,000 | 3.6% |
4 Bed | $431,000 | 2.4% |
| 5 Bed | $564,000 | 1.6% |
% of Housing Stock
Rental Trends — Byron, MN
As of July '25, Rentcast reports the average rent in Byron, MN is $2,460, with a year-over-year rent change of -13.7%. Per bedroom, the median rent as of July '25 in Byron, MN is 1-bedrooms: $1,400, 2-bedrooms: $1,510, 3-bedrooms: $3,850, 4-bedrooms: $2,650. The most common rental property sizes in Byron, MN are 2-bedroom and 4-bedroom, accounting for 47.8% and 20.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,780 | $2,460 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,400 | $1,400 |
| 2 Bed Rent | $1,240 | $1,510 |
| 3 Bed Rent | $3,750 | $3,850 |
| 4 Bed Rent | $2,650 | $2,650 |
% of Rental Stock
Property Listings — Byron, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Byron, MN is 76. This is a increase of 35.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $491,000 | 0.0% |
Listing Count | 60 | 11.0% |
| Listings as % of Homes | 1.3% | 11.0% |
Days on Market | 76 | 35.0% |
Demographics — Byron, MN
As of the latest ACS Survey released in 2023, Byron, MN has a population of 8,750, which has increased by 12.0% over the past 5 years. Byron, MN is a popular place for families, as children make up 29.9% of the population. The area has a highly educated workforce, with 47.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,750 | 12.0% |
% Under 18 | 29.9% | -0.7% |
% Seniors | 14.5% | 19.8% |
% WFH | 19.5% | 375.6% |
% w/ College Degree | 47.8% | 14.4% |
As of the latest ACS Survey released in 2023, Byron, MN is a predominantly white area, with 90.0% of the population identifying as white. The white population has shrunk by 6.2% in the last 5 years. The second most common race or ethnicity in Byron, MN is hispanic, making up 3.4% of the population. Foreign-born residents account for 2.4% of the population in Byron, MN, and this percentage has decreased by 11.1% 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 | 90.0% | -6.2% |
% Black | 1.4% | 600.0% |
% Hispanic | 3.4% | 112.5% |
% Asian | 2.1% | 31.2% |
% Foreign Born | 2.4% | -11.1% |
Mortgage and Risk — Byron, MN
According to HUD data as of 2023, there were 238 mortgage originations in Byron, MN, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Byron, 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 | 238 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Byron, MN
As of 2024, the percent of homes in Byron, MN under the Section 8 program is 1.0%. 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 Byron, 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 | 8 |
Total Units Section 8 | 8 |
% Rentals under Section 8 | 1.0% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$390 | $1,400 | $1,010 |
| 2 Bedroom | -$10 | $1,240 | $1,230 |
| 3 Bedroom | -$2,030 | $3,750 | $1,720 |
| 4 Bedroom | -$580 | $2,650 | $2,070 |
Affordability — Byron, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $390,000 |
| Median Household Income | $126,000 |