Willmar, MN—56201
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Willmar, MN
As of Oct '25, the median home price in Willmar, MN is $236,000, with a year-over-year change of 3.5%. This indicates that home prices in Willmar, MN are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $236,000 | 3.5% |
| Single Family | $238,000 | 3.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $190,000 | 2.2% |
3 Bed | $225,000 | 1.8% |
4 Bed | $287,000 | 2.1% |
| 5 Bed | $350,000 | 1.7% |
% of Housing Stock
Rental Trends — Willmar, MN
As of July '25, Rentcast reports the average rent in Willmar, MN is $1,020, with a year-over-year rent change of -20.9%. Per bedroom, the median rent as of July '25 in Willmar, MN is studios: $750, 1-bedrooms: $828, 2-bedrooms: $895, 3-bedrooms: $1,580, 4-bedrooms: $2,040. The most common rental property sizes in Willmar, MN are 2-bedroom and 1-bedroom, accounting for 42.5% and 29.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $825 | $1,020 |
| Studio Rent | $750 | $750 |
| 1 Bed Rent | $805 | $828 |
| 2 Bed Rent | $870 | $895 |
| 3 Bed Rent | $1,580 | $1,580 |
| 4 Bed Rent | $1,600 | $2,040 |
% of Rental Stock
Property Listings — Willmar, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Willmar, MN is 51. This is a increase of 18.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $265,000 | -10.0% |
Listing Count | 98 | 60.0% |
| Listings as % of Homes | 0.3% | 60.0% |
Days on Market | 51 | 18.0% |
Demographics — Willmar, MN
As of the latest ACS Survey released in 2023, Willmar, MN has a population of 24,900, which has increased by 7.2% over the past 5 years. Willmar, MN is a popular place for families, as children make up 25.6% of the population. The area has a moderately educated workforce, with 26.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,900 | 7.2% |
% Under 18 | 25.6% | -0.8% |
% Seniors | 18.6% | 10.7% |
% WFH | 7.7% | 165.5% |
% w/ College Degree | 26.1% | 14.0% |
As of the latest ACS Survey released in 2023, Willmar, MN is a predominantly white area, with 63.9% of the population identifying as white. The white population has shrunk by 7.0% in the last 5 years. The second most common race or ethnicity in Willmar, MN is hispanic, making up 22.0% of the population. Foreign-born residents account for 15.2% of the population in Willmar, MN, and this percentage has increased by 9.4% 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 | 63.9% | -7.0% |
% Black | 9.6% | 10.3% |
% Hispanic | 22.0% | 13.4% |
% Asian | 2.1% | 50.0% |
% Foreign Born | 15.2% | 9.4% |
Mortgage and Risk — Willmar, MN
According to HUD data as of 2023, there were 296 mortgage originations in Willmar, MN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Willmar, MN. Investor activity is low, as 3.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 296 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Willmar, MN
Willmar, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 713 |
Total Units Section 8 | 467 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 63.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$45 | $805 | $760 |
| 2 Bedroom | $60 | $870 | $930 |
| 3 Bedroom | -$270 | $1,580 | $1,310 |
| 4 Bedroom | -$60 | $1,600 | $1,540 |
Affordability — Willmar, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $236,000 |
| Median Household Income | $68,100 |