Gilman, MN—56329
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Gilman, MN
As of Oct '25, the median home price in Gilman, MN is $331,000, with a year-over-year change of 4.9%. This indicates that home prices in Gilman, MN are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $331,000 | 4.9% |
| Single Family | $332,000 | 5.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $262,000 | 5.2% |
3 Bed | $333,000 | 5.4% |
4 Bed | $359,000 | 5.0% |
| 5 Bed | $430,000 | 4.9% |
% of Housing Stock
Rental Trends — Gilman, MN
As of July '25, Rentcast reports the average rent in Gilman, MN is $925, with a year-over-year rent change of -20.3%. Per bedroom, the median rent as of July '25 in Gilman, MN is 2-bedrooms: $925. The most common rental property sizes in Gilman, MN are 1-bedroom and 2-bedroom, accounting for 33.5% and 26.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $925 | $925 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $925 | $925 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Gilman, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Gilman, MN is 33. This is a decrease of -39.0% 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 | $319,000 | -7.0% |
Listing Count | 15 | -7.0% |
| Listings as % of Homes | 0.1% | -7.0% |
Days on Market | 33 | -39.0% |
Demographics — Gilman, MN
As of the latest ACS Survey released in 2023, Gilman, MN has a population of 7,700, which has increased by 2.3% over the past 5 years. Gilman, MN is a popular place for families, as children make up 28.2% of the population. The area has a poorly educated workforce, with 19.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,700 | 2.3% |
% Under 18 | 28.2% | -7.8% |
% Seniors | 14.2% | 3.6% |
% WFH | 8.9% | 45.9% |
% w/ College Degree | 19.4% | 15.5% |
As of the latest ACS Survey released in 2023, Gilman, MN is a predominantly white area, with 93.7% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Gilman, MN is hispanic, making up 1.7% of the population. Foreign-born residents account for 0.8% of the population in Gilman, MN, and this percentage has decreased by 20.0% 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 | 93.7% | -2.2% |
% Black | 0.5% | 25.0% |
% Hispanic | 1.7% | 21.4% |
% Asian | 0.8% | 700.0% |
% Foreign Born | 0.8% | -20.0% |
Mortgage and Risk — Gilman, MN
According to HUD data as of 2023, there were 147 mortgage originations in Gilman, MN, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Gilman, MN. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 147 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Gilman, MN
Gilman, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 37 |
Total Units Section 8 | 37 |
% Rentals under Section 8 | 7.7% |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,200 |
| 2 Bedroom | $535 | $925 | $1,460 |
| 3 Bedroom | N/A | N/A | $1,970 |
| 4 Bedroom | N/A | N/A | $2,240 |
Affordability — Gilman, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $331,000 |
| Median Household Income | $89,700 |