Foreclosure Homes in Loretto, MN

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View this home at Summit Ave Loretto MN 55357
$447,993 EMV
Summit Ave
Loretto, MN 55357
5 |
EST. RENT: $2,800
AUCTION: 05-24-2024
5 |
View this home at County Road 19 Loretto MN 55357
$510,381 EMV
County Road 19
Loretto, MN 55357
EST. RENT: $1,890
AUCTION: 04-25-2024
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Loretto, MN Foreclosures

How much do homes sell for in Loretto, MN?
The average home price is currently $545,132.
In Loretto, MN, how many homes are available?
There are currently 1,205 active home listings available in Loretto.
What’s the average rental cost in Loretto, MN?
The average rental price in Loretto is $2,280.
What is the most expensive home in Loretto, Minnesota?
The most expensive home sold in Loretto had a price of $3,875,000.
What is currently the cheapest priced home in Loretto, MN?
The cheapest home for sale in Loretto is priced at $82,000.

Home Value Estimator For Loretto, MN

There are currently 1,205 real estate properties in Loretto, MN, with a median automated valuation model (AVM) price of $493,105.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Loretto, 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 Loretto, MN, is $545,132.00, with the most expensive house in Loretto, MN, topping out at $3,875,000.00 and the cheapest home in Loretto, MN, clocking in at $82,000.00. In other words, there’s something for every potential homebuyer or savvy investor in Loretto, MN!

Rent Prices In Loretto, MN

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Loretto, MN, is on a rollercoaster ride. The average rent price in Loretto, MN, is $2,280.00. Indeed, when looking to rent in Loretto, MN, you can expect to pay as little as $1,180.00 or as much as $3,580.00, with the average rent median estimated to be $2,270.00. The good news is that finding an affordable and desirable property to rent in Loretto, 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 Loretto, MN In 2024

Loretto is located in Hennepin, Minnesota, with an estimated municipal population of 664 residents. All of the best foreclosed homes for sale in Loretto are located in the following zip code areas on 55357. The estimated population per square kilometer (.62 miles) in Loretto is 993.

Cost Of Living In Loretto, MN

So, about how much do homes cost in Loretto? The most recent median value of resident-owned homes in Loretto is 260,403. An estimated 75.6 percent of households in Loretto own their homes, with an average family size of 3.43. The median household income in Loretto is 77,250, with38.3 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Loretto, the median commute time of resident workers (in minutes) is 28. And last, but certainly not least, are you looking for homes to rent in Loretto? If so, the average rent price paid by renters in Loretto is 645, according to recent statistics.

Diversity And Demographics In Loretto, 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 Loretto, 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 Loretto is 38.9, split between 49.1 percent male versus 50.9 female. The percentage of residents who report being married in Loretto is 57.8, with an average family size of 3.43.

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

White 100%
Black / African American 0%
Asian 0%
American Indian / Alaskan Native 0%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 0%
Other 0%

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

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

Under 10 16.6%
Aged 10-19 14.8%
20s 9.7%
30s 10.3%
40s 13.1%
50s 16.2%
60s 10.9%
70s 5.2%
80+ 3%

Best Schools In Loretto, 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 Loretto with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Loretto.

Pros And Cons Of Living In Loretto, Minnesota

How do you know that living in -- or moving to -- Loretto is right where you need to be? Perhaps you grew up in Loretto or already live nearby; therefore, the decision to buy a home in Loretto is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Loretto 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 Loretto:

  • 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 Loretto.

Reasons To Move To Loretto, 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 Loretto can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Loretto, meanwhile, can field multiple offers from more qualified buyers.

Loretto, MN Foreclosures


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