Cheap Homes in Hermantown, MN

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Hermantown, MN Foreclosures

How much do homes sell for in Hermantown, MN?
The average home price is currently $372,710.
In Hermantown, MN, how many homes are available?
There are currently 3,110 active home listings available in Hermantown.
What’s the average rental cost in Hermantown, MN?
The average rental price in Hermantown is $1,804.
What is the most expensive home in Hermantown, Minnesota?
The most expensive home sold in Hermantown had a price of $1,792,828.
What is currently the cheapest priced home in Hermantown, MN?
The cheapest home for sale in Hermantown is priced at $16,879.

Home Value Estimator For Hermantown, MN

There are currently 3,110 real estate properties in Hermantown, MN, with a median automated valuation model (AVM) price of $352,686.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Hermantown, MN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Hermantown, MN, is $372,710.00, with the most expensive house in Hermantown, MN, topping out at $1,792,828.00 and the cheapest home in Hermantown, MN, clocking in at $16,879.00. In other words, there’s something for every potential homebuyer or savvy investor in Hermantown, MN!

Rent Prices In Hermantown, MN

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Hermantown, MN, is on a rollercoaster ride. The average rent price in Hermantown, MN, is $1,804.00. Indeed, when looking to rent in Hermantown, MN, you can expect to pay as little as $680.00 or as much as $3,220.00, with the average rent median estimated to be $1,780.00. The good news is that finding an affordable and desirable property to rent in Hermantown, MN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Top Reasons To Live In Hermantown, MN In 2024

Hermantown is located in St. Louis, Minnesota, with an estimated municipal population of 9,637 residents. All of the best foreclosed homes for sale in Hermantown are located in the following zip code areas on 55814 55810 55811. The estimated population per square kilometer (.62 miles) in Hermantown is 108.

Cost Of Living In Hermantown, MN

So, about how much do homes cost in Hermantown? The most recent median value of resident-owned homes in Hermantown is 235,808. An estimated 76.3 percent of households in Hermantown own their homes, with an average family size of 3.02. The median household income in Hermantown is 73,865, with34.1 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Hermantown, the median commute time of resident workers (in minutes) is 20.4. And last, but certainly not least, are you looking for homes to rent in Hermantown? If so, the average rent price paid by renters in Hermantown is 1,095, according to recent statistics.

Diversity And Demographics In Hermantown, Minnesota

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Hermantown, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Hermantown is 41.5, split between 52.9 percent male versus 47.1 female. The percentage of residents who report being married in Hermantown is 58.1, with an average family size of 3.02.

The percentage of residents who report their race in Hermantown is as follows:

White 92.4%
Black / African American 3.4%
Asian 0.5%
American Indian / Alaskan Native 0.7%
Native Hawaiian / Other Pacifc Islander 0.1%
Multi-racial 1.9%
Other 1%

Looking for family-friendly neighborhoods in and/or near Hermantown? Or maybe you are searching for 55+ active adult communities in and/or near Hermantown?

The percentage of residents who report their age in Hermantown is as follows:

Under 10 11.3%
Aged 10-19 13.5%
20s 10.2%
30s 12.8%
40s 13%
50s 14.7%
60s 10.8%
70s 7.3%
80+ 6.4%

Best Schools In Hermantown, Minnesota

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Hermantown with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Hermantown.

Pros And Cons Of Living In Hermantown, Minnesota

How do you know that living in -- or moving to -- Hermantown is right where you need to be? Perhaps you grew up in Hermantown or already live nearby; therefore, the decision to buy a home in Hermantown is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Hermantown for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Hermantown:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Hermantown.

Reasons To Move To Hermantown, Minnesota, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Hermantown can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Hermantown, meanwhile, can field multiple offers from more qualified buyers.

Cheap Homes in Hermantown, MN


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