Milaca, MN—56353
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Milaca, MN
As of Oct '25, the median home price in Milaca, MN is $316,000, with a year-over-year change of 4.2%. This indicates that home prices in Milaca, MN are increasing. According to Zillow, the 1-year price projection is -0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $316,000 | 4.2% |
| Single Family | $316,000 | 3.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $255,000 | 3.7% |
3 Bed | $308,000 | 2.7% |
4 Bed | $367,000 | 2.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Milaca, MN
Milaca, 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 — Milaca, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Milaca, MN is 45. This is a decrease of -13.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $375,000 | -3.0% |
Listing Count | 35 | 48.0% |
| Listings as % of Homes | 0.5% | 48.0% |
Days on Market | 45 | -13.0% |
Demographics — Milaca, MN
As of the latest ACS Survey released in 2023, Milaca, MN has a population of 9,490, which has increased by 1.9% over the past 5 years. Milaca, MN is a moderately popular place for families, as children make up 24.2% of the population. The area has a poorly educated workforce, with 17.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,490 | 1.9% |
% Under 18 | 24.2% | -6.6% |
% Seniors | 14.2% | -12.9% |
% WFH | 8.4% | 18.3% |
% w/ College Degree | 17.3% | 17.7% |
As of the latest ACS Survey released in 2023, Milaca, MN is a predominantly white area, with 92.2% of the population identifying as white. The white population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in Milaca, MN is hispanic, making up 2.6% of the population. Foreign-born residents account for 0.9% of the population in Milaca, MN, and this percentage has decreased by 40.0% 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 | 92.2% | -1.8% |
% Black | 0.4% | 33.3% |
% Hispanic | 2.6% | -3.7% |
% Asian | 0.3% | -50.0% |
% Foreign Born | 0.9% | -40.0% |
Mortgage and Risk — Milaca, MN
According to HUD data as of 2023, there were 300 mortgage originations in Milaca, MN, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Milaca, MN. Investor activity is low, as 3.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 300 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 3.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Milaca, MN
Milaca, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 152 |
Total Units Section 8 | 144 |
% Rentals under Section 8 | 21.3% |
% Occupied Section 8 | 78.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,200 |
| 2 Bedroom | N/A | N/A | $1,460 |
| 3 Bedroom | N/A | N/A | $1,970 |
| 4 Bedroom | N/A | N/A | $2,240 |
Affordability — Milaca, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $316,000 |
| Median Household Income | $77,200 |