Lake Lillian, MN—56253
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lake Lillian, MN
As of Oct '25, the median home price in Lake Lillian, MN is $289,000, with a year-over-year change of 2.9%. This indicates that home prices in Lake Lillian, 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 | $289,000 | 2.9% |
| Single Family | $289,000 | 2.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lake Lillian, MN
As of July '25, Rentcast reports the average rent in Lake Lillian, MN is $743, with a year-over-year rent change of 5.4%. Per bedroom, the median rent as of July '25 in Lake Lillian, MN is 2-bedrooms: $743. The most common rental property sizes in Lake Lillian, MN are 3-bedroom and 2-bedroom, accounting for 35.0% and 32.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $765 | $743 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $765 | $743 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lake Lillian, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Lake Lillian, MN is 103. This is a increase of 67.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $367,000 | -3.0% |
Listing Count | 8 | 43.0% |
| Listings as % of Homes | 0.7% | 43.0% |
Days on Market | 103 | 67.0% |
Demographics — Lake Lillian, MN
As of the latest ACS Survey released in 2023, Lake Lillian, MN has a population of 737, which has decreased by -37.6% over the past 5 years. Lake Lillian, MN is a moderately popular place for families, as children make up 17.0% of the population. The area has a poorly educated workforce, with 14.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 737 | -37.6% |
% Under 18 | 17.0% | -4.0% |
% Seniors | 25.4% | 21.0% |
% WFH | 5.0% | -10.7% |
% w/ College Degree | 14.3% | -5.9% |
As of the latest ACS Survey released in 2023, Lake Lillian, MN is a predominantly white area, with 97.7% of the population identifying as white. The white population has shrunk by 0.3% in the last 5 years. The second most common race or ethnicity in Lake Lillian, MN is hispanic, making up 1.6% of the population. Foreign-born residents account for 0.8% of the population in Lake Lillian, MN, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 97.7% | -0.3% |
% Black | 0.0% | N/A |
% Hispanic | 1.6% | 23.1% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.8% | 0.0% |
Mortgage and Risk — Lake Lillian, MN
Lake Lillian, MN lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Lake Lillian, MN
Lake Lillian, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $790 |
| 2 Bedroom | $205 | $765 | $970 |
| 3 Bedroom | N/A | N/A | $1,360 |
| 4 Bedroom | N/A | N/A | $1,600 |
Affordability — Lake Lillian, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $289,000 |
| Median Household Income | $74,000 |