Aitkin, MN 56431 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Aitkin, MN—56431

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$305,000

2.7% YoY Growth

Household Income

$64,800

38.8% YoY Growth

Days on Market

4.0% Longer YoY

Home Price Forecast

N/A

Median Rent

$1,200

20.6% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$1,200

N/A

3-Bed Rent

$1,350

15.6% YoY Growth

Home Price Trends — Aitkin, MN

Aitkin, MN lacks sufficient home price data for analysis.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$305,000	2.7%
Single Family	$306,000	3.0%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	$260,000	5.3%

Rental Trends — Aitkin, MN

As of July '25, Rentcast reports the average rent in Aitkin, MN is $1,270, with a year-over-year rent change of -20.6%. Per bedroom, the median rent as of July '25 in Aitkin, MN is 2-bedrooms: $1,200, 3-bedrooms: $1,350. The most common rental property sizes in Aitkin, MN are 2-bedroom and 1-bedroom, accounting for 31.9% and 29.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,200	$1,270
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	$1,200	$1,200
3 Bed Rent	$1,350	$1,350
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

9.5%

1 Bedroom

29.1%

2 Bedrooms

31.9%

3 Bedrooms

20.1%

4 Bedrooms

8.1%

5+ Bedrooms

1.4%

Property Listings — Aitkin, MN

As of Nov '25, Realtor.com reports that the median days on market for a home in Aitkin, MN is 67. This is a increase of 4.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$420,000	10.0%
Listing Count	40	-4.0%
Listings as % of Homes	0.3%	-4.0%
Days on Market	67	4.0%

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Demographics — Aitkin, MN

As of the latest ACS Survey released in 2023, Aitkin, MN has a population of 9,140, which has increased by 3.5% over the past 5 years. Aitkin, MN is a moderately popular place for families, as children make up 15.9% of the population. The area has a poorly educated workforce, with 21.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	9,140	3.5%
% Under 18	15.9%	-6.5%
% Seniors	35.4%	8.3%
% WFH	12.6%	162.5%
% w/ College Degree	21.1%	11.6%

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As of the latest ACS Survey released in 2023, Aitkin, MN is a predominantly white area, with 94.6% of the population identifying as white. The white population has shrunk by 0.5% in the last 5 years. The second most common race or ethnicity in Aitkin, MN is hispanic, making up 1.5% of the population. Foreign-born residents account for 0.6% of the population in Aitkin, MN, and this percentage has decreased by 57.1% 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	94.6%	-0.5%
% Black	0.7%	16.7%
% Hispanic	1.5%	-11.8%
% Asian	0.1%	-83.3%
% Foreign Born	0.6%	-57.1%

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Mortgage and Risk — Aitkin, MN

According to HUD data as of 2023, there were 164 mortgage originations in Aitkin, MN, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Aitkin, MN. Investor activity is low, as 2.0% 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	164
% Conventional Loans	87.0%
% Government Loans	13.0%
% Investor Loans	2.0%
% Second Loans	19.0%
% Cash Out Refinance	12.0%

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Rentals and Section 8 — Aitkin, MN

Aitkin, MN lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	144
Total Units Section 8	84
% Rentals under Section 8	N/A
% Occupied Section 8	86.7%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$760
2 Bedroom	-$200	$1,200	$1,000
3 Bedroom	-$60	$1,350	$1,290
4 Bedroom	N/A	N/A	$1,410

Aitkin, MN—56431

Key Metrics at a Glance

Home Price Trends — Aitkin, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Aitkin, MN

% of Rental Stock

Property Listings — Aitkin, MN

Demographics — Aitkin, MN

Race and Ethnicity

Mortgage and Risk — Aitkin, MN

Mortgages

Rentals and Section 8 — Aitkin, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Aitkin, MN

Home Price to Income Ratio

Aitkin, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Deerwood, MN

Garrison, MN

Wolford, MN

Ironton, MN

Emily, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.2
Median Home Price	$305,000
Median Household Income	$64,800

Aitkin, MN—56431

Key Metrics at a Glance

Home Price Trends — Aitkin, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Aitkin, MN

% of Rental Stock

Property Listings — Aitkin, MN

Demographics — Aitkin, MN

Race and Ethnicity

Mortgage and Risk — Aitkin, MN

Mortgages

Rentals and Section 8 — Aitkin, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Aitkin, MN

Home Price to Income Ratio

Aitkin, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Deerwood, MN

Garrison, MN

Wolford, MN

Ironton, MN

Emily, MN

Frequently Asked Questions

What is the average home price in Aitkin, MN 56431?

How have home prices in Aitkin, MN 56431 changed over the past year?

What is the home price projection for Aitkin, MN 56431?

What are the demographics of Aitkin, MN 56431?

How long does it take homes to sell in Aitkin, MN 56431?

What is the average rent price in Aitkin, MN 56431?