Wadena, MN 56482 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Wadena, MN—56482

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$209,000

3.2% YoY Growth

Household Income

$56,400

21.5% YoY Growth

Days on Market

76.0% Longer YoY

Home Price Forecast

N/A

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Wadena, MN

Wadena, MN lacks sufficient home price data for analysis.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$209,000	3.2%
Single Family	$209,000	3.0%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

Rental Trends — Wadena, MN

Wadena, 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

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% of Rental Stock

Studio

33.3%

1 Bedroom

16.3%

2 Bedrooms

38.5%

3 Bedrooms

9.1%

4 Bedrooms

1.2%

5+ Bedrooms

1.6%

Property Listings — Wadena, MN

As of Nov '25, Realtor.com reports that the median days on market for a home in Wadena, MN is 90. This is a increase of 76.0% 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	$310,000	21.0%
Listing Count	32	4.0%
Listings as % of Homes	0.6%	4.0%
Days on Market	90	76.0%

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Demographics — Wadena, MN

As of the latest ACS Survey released in 2023, Wadena, MN has a population of 7,490, which has increased by 9.8% over the past 5 years. Wadena, MN is a moderately popular place for families, as children make up 24.9% of the population. The area has a poorly educated workforce, with 15.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	7,490	9.8%
% Under 18	24.9%	4.2%
% Seniors	18.4%	-14.4%
% WFH	8.0%	35.6%
% w/ College Degree	15.2%	17.8%

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As of the latest ACS Survey released in 2023, Wadena, MN is a predominantly white area, with 91.2% of the population identifying as white. The white population has shrunk by 3.4% in the last 5 years. The second most common race or ethnicity in Wadena, MN is hispanic, making up 3.3% of the population. Foreign-born residents account for 2.7% of the population in Wadena, MN, and this percentage has increased by 575.0% 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	91.2%	-3.4%
% Black	0.7%	-53.3%
% Hispanic	3.3%	37.5%
% Asian	0.3%	∞%
% Foreign Born	2.7%	575.0%

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Mortgage and Risk — Wadena, MN

According to HUD data as of 2023, there were 62 mortgage originations in Wadena, MN, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Wadena, MN. Investor activity is low, as 5.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	62
% Conventional Loans	69.0%
% Government Loans	31.0%
% Investor Loans	5.0%
% Second Loans	6.0%
% Cash Out Refinance	10.0%

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Rentals and Section 8 — Wadena, MN

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

Section 8 Market Size

Total Units under HUD	256
Total Units Section 8	195
% Rentals under Section 8	N/A
% Occupied Section 8	79.4%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$730
2 Bedroom	N/A	N/A	$930
3 Bedroom	N/A	N/A	$1,170
4 Bedroom	N/A	N/A	$1,260

Wadena, MN—56482

Key Metrics at a Glance

Home Price Trends — Wadena, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Wadena, MN

% of Rental Stock

Property Listings — Wadena, MN

Demographics — Wadena, MN

Race and Ethnicity

Mortgage and Risk — Wadena, MN

Mortgages

Rentals and Section 8 — Wadena, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Wadena, MN

Home Price to Income Ratio

Wadena, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Bluffton, MN

Hewitt, MN

Deer Creek, MN

Verndale, MN

Sebeka, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.3
Median Home Price	$209,000
Median Household Income	$56,400

Wadena, MN—56482

Key Metrics at a Glance

Home Price Trends — Wadena, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Wadena, MN

% of Rental Stock

Property Listings — Wadena, MN

Demographics — Wadena, MN

Race and Ethnicity

Mortgage and Risk — Wadena, MN

Mortgages

Rentals and Section 8 — Wadena, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Wadena, MN

Home Price to Income Ratio

Wadena, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Bluffton, MN

Hewitt, MN

Deer Creek, MN

Verndale, MN

Sebeka, MN

Frequently Asked Questions

What is the average home price in Wadena, MN 56482?

How have home prices in Wadena, MN 56482 changed over the past year?

What is the home price projection for Wadena, MN 56482?

What are the demographics of Wadena, MN 56482?

How long does it take homes to sell in Wadena, MN 56482?

What is the average rent price in Wadena, MN 56482?