Cass Lake, MN—56633
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cass Lake, MN
As of Oct '25, the median home price in Cass Lake, MN is $227,000, with a year-over-year change of 1.4%. This indicates that home prices in Cass Lake, MN are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $227,000 | 1.4% |
| Single Family | $227,000 | 1.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $219,000 | 1.9% |
3 Bed | $282,000 | 2.5% |
4 Bed | $353,000 | 1.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Cass Lake, MN
As of July '25, Rentcast reports the average rent in Cass Lake, MN is $750, with a year-over-year rent change of -58.3%. Per bedroom, the median rent as of July '25 in Cass Lake, MN is 1-bedrooms: $750. The most common rental property sizes in Cass Lake, MN are 3-bedroom and 2-bedroom, accounting for 27.2% and 25.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $750 | $750 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $750 | $750 |
| 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 — Cass Lake, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Cass Lake, MN is 136. This is a increase of 89.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $202,000 | -30.0% |
Listing Count | 22 | 63.0% |
| Listings as % of Homes | 0.1% | 63.0% |
Days on Market | 136 | 89.0% |
Demographics — Cass Lake, MN
As of the latest ACS Survey released in 2023, Cass Lake, MN has a population of 4,860, which has increased by 8.3% over the past 5 years. Cass Lake, MN is a popular place for families, as children make up 33.7% of the population. The area has a poorly educated workforce, with 17.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,860 | 8.3% |
% Under 18 | 33.7% | 1.5% |
% Seniors | 16.3% | 3.8% |
% WFH | 6.4% | 100.0% |
% w/ College Degree | 17.7% | 4.1% |
As of the latest ACS Survey released in 2023, Cass Lake, MN is a predominantly white area, with 32.0% of the population identifying as white. The white population has grown by 1.3% in the last 5 years. The second most common race or ethnicity in Cass Lake, MN is hispanic, making up 4.4% of the population. Foreign-born residents account for 2.0% of the population in Cass Lake, MN, and this percentage has increased by 66.7% 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 | 32.0% | 1.3% |
% Black | 0.5% | 150.0% |
% Hispanic | 4.4% | -17.0% |
% Asian | 1.3% | 18.2% |
% Foreign Born | 2.0% | 66.7% |
Mortgage and Risk — Cass Lake, MN
According to HUD data as of 2023, there were 46 mortgage originations in Cass Lake, MN, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Cass Lake, MN. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 46 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 2.0% |
% Second Loans | 28.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Cass Lake, MN
Cass Lake, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 52 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $170 | $750 | $920 |
| 2 Bedroom | N/A | N/A | $1,080 |
| 3 Bedroom | N/A | N/A | $1,400 |
| 4 Bedroom | N/A | N/A | $1,700 |
Affordability — Cass Lake, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $227,000 |
| Median Household Income | $62,400 |