Erskine, MN—56535
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Erskine, MN
As of Oct '25, the median home price in Erskine, MN is $282,000, with a year-over-year change of 6.5%. This indicates that home prices in Erskine, MN are increasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $282,000 | 6.5% |
| Single Family | $281,000 | 6.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $268,000 | 11.7% |
3 Bed | $307,000 | 3.7% |
4 Bed | $347,000 | 5.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Erskine, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Erskine, MN is 70. This is a increase of 28.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $497,000 | 171.0% |
Listing Count | 14 | 19.0% |
| Listings as % of Homes | 0.7% | 19.0% |
Days on Market | 70 | 28.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Erskine, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $282,000 |
| Median Household Income | $57,900 |