Erskine, MN 56535 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Erskine, MN—56535

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$280,000

6.3% YoY Growth

Household Income

$57,900

10.0% YoY Growth

Days on Market

12.0% Longer YoY

Home Price Forecast

0.9%

Median Rent

$875

7.5% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$875

0.0% YoY Growth

3-Bed Rent

N/A

Home Price Trends — Erskine, MN

As of Nov '25, the median home price in Erskine, MN is $280,000, with a year-over-year change of 6.3%. This indicates that home prices in Erskine, 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	$280,000	6.3%
Single Family	$281,000	5.6%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Erskine, MN

As of July '25, Rentcast reports the average rent in Erskine, MN is $875, with a year-over-year rent change of 7.5%. Per bedroom, the median rent as of July '25 in Erskine, MN is 2-bedrooms: $875. The most common rental property sizes in Erskine, MN are 3-bedroom and 1-bedroom, accounting for 43.6% and 31.6% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$875	$875
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	$875	$875
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

5.3%

1 Bedroom

31.6%

2 Bedrooms

19.5%

3 Bedrooms

43.6%

Property Listings — Erskine, MN

As of Nov '25, Realtor.com reports that the median days on market for a home in Erskine, MN is 93. This is a increase of 12.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$439,000	115.0%
Listing Count	10	41.0%
Listings as % of Homes	0.7%	41.0%
Days on Market	93	12.0%

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Demographics — Erskine, MN

As of the latest ACS Survey released in 2023, Erskine, MN has a population of 1,290, which has increased by 4.5% over the past 5 years. Erskine, MN is a popular place for families, as children make up 28.0% of the population. The area has a poorly educated workforce, with 18.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.9% reporting working from home.

Metric	Latest Census	YoY % Change
Population	1,290	4.5%
% Under 18	28.0%	59.1%
% Seniors	25.4%	-19.9%
% WFH	7.9%	182.1%
% w/ College Degree	18.5%	2.2%

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As of the latest ACS Survey released in 2023, Erskine, MN is a predominantly white area, with 91.8% of the population identifying as white. The white population has shrunk by 3.1% in the last 5 years. The second most common race or ethnicity in Erskine, MN is hispanic, making up 4.4% of the population. Foreign-born residents account for 1.9% of the population in Erskine, MN, and this percentage has increased by 72.7% 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	91.8%	-3.1%
% Black	0.0%	N/A
% Hispanic	4.4%	83.3%
% Asian	1.4%	∞%
% Foreign Born	1.9%	72.7%

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Mortgage and Risk — Erskine, MN

According to HUD data as of 2023, there were 56 mortgage originations in Erskine, MN, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Erskine, MN. Investor activity is low, as 5.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	56
% Conventional Loans	89.0%
% Government Loans	11.0%
% Investor Loans	5.0%
% Second Loans	18.0%
% Cash Out Refinance	9.0%

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Rentals and Section 8 — Erskine, MN

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

Section 8 Market Size

Total Units under HUD	27
Total Units Section 8	24
% Rentals under Section 8	13.5%
% Occupied Section 8	85.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$740
2 Bedroom	$55	$875	$930
3 Bedroom	N/A	N/A	$1,310
4 Bedroom	N/A	N/A	$1,570

Erskine, MN—56535

Key Metrics at a Glance

Home Price Trends — Erskine, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Erskine, MN

% of Rental Stock

Property Listings — Erskine, MN

Demographics — Erskine, MN

Race and Ethnicity

Mortgage and Risk — Erskine, MN

Mortgages

Rentals and Section 8 — Erskine, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Erskine, MN

Home Price to Income Ratio

Erskine, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Winger, MN

McIntosh, MN

Brooks, MN

Mentor, MN

Fertile, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.1
Median Home Price	$280,000
Median Household Income	$57,900

Erskine, MN—56535

Key Metrics at a Glance

Home Price Trends — Erskine, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Erskine, MN

% of Rental Stock

Property Listings — Erskine, MN

Demographics — Erskine, MN

Race and Ethnicity

Mortgage and Risk — Erskine, MN

Mortgages

Rentals and Section 8 — Erskine, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Erskine, MN

Home Price to Income Ratio

Erskine, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Winger, MN

McIntosh, MN

Brooks, MN

Mentor, MN

Fertile, MN

Frequently Asked Questions

What is the average home price in Erskine, MN 56535?

How have home prices in Erskine, MN 56535 changed over the past year?

What is the home price projection for Erskine, MN 56535?

What are the demographics of Erskine, MN 56535?

How long does it take homes to sell in Erskine, MN 56535?

What is the average rent price in Erskine, MN 56535?