Sleepy Eye, MN—56085
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Sleepy Eye, MN
As of Oct '25, the median home price in Sleepy Eye, MN is $248,000, with a year-over-year change of 11.1%. This indicates that home prices in Sleepy Eye, MN are increasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $248,000 | 11.1% |
| Single Family | $249,000 | 12.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $176,000 | 10.7% |
3 Bed | $210,000 | 9.4% |
4 Bed | $262,000 | 12.4% |
| 5 Bed | $328,000 | 9.7% |
% of Housing Stock
Rental Trends — Sleepy Eye, MN
Sleepy Eye, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| 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 | N/A | N/A |
% of Rental Stock
Property Listings — Sleepy Eye, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Sleepy Eye, MN is 43. This is a increase of 146.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $226,000 | 101.0% |
Listing Count | 11 | 3.0% |
| Listings as % of Homes | 0.2% | 3.0% |
Days on Market | 43 | 146.0% |
Demographics — Sleepy Eye, MN
As of the latest ACS Survey released in 2023, Sleepy Eye, MN has a population of 5,010, which has decreased by -4.9% over the past 5 years. Sleepy Eye, MN is a moderately popular place for families, as children make up 20.9% of the population. The area has a poorly educated workforce, with 19.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,010 | -4.9% |
% Under 18 | 20.9% | -13.6% |
% Seniors | 22.4% | 7.7% |
% WFH | 6.5% | -27.8% |
% w/ College Degree | 19.9% | 18.5% |
As of the latest ACS Survey released in 2023, Sleepy Eye, MN is a predominantly white area, with 87.9% of the population identifying as white. The white population has shrunk by 4.7% in the last 5 years. The second most common race or ethnicity in Sleepy Eye, MN is hispanic, making up 10.1% of the population. Foreign-born residents account for 5.9% of the population in Sleepy Eye, MN, and this percentage has increased by 110.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 87.9% | -4.7% |
% Black | 0.0% | -100.0% |
% Hispanic | 10.1% | 32.9% |
% Asian | 0.4% | ∞% |
% Foreign Born | 5.9% | 110.7% |
Mortgage and Risk — Sleepy Eye, MN
According to HUD data as of 2023, there were 56 mortgage originations in Sleepy Eye, MN, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Sleepy Eye, MN. Investor activity is low, as 5.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 56 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 5.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Sleepy Eye, MN
Sleepy Eye, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 92 |
Total Units Section 8 | 47 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 70.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $710 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | N/A | N/A | $1,150 |
| 4 Bedroom | N/A | N/A | $1,580 |
Affordability — Sleepy Eye, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $248,000 |
| Median Household Income | $70,400 |