Market Overview
Home Prices in Babbitt, MN
The median home value in Babbitt, MN is $155,559 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.1% compared to a year ago and down 2.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Babbitt are priced62% below average. Babbitt is part of the Duluth, MN-WI metro area.
Over the past five years, Babbitt home values have risen by approximately36.6%, reflecting strong long-term appreciation in this market.
Price History
Babbitt Home Price Trend
City Comparison
Babbitt vs. National Median
At $155,559, homes in Babbitt cost 62% below the national median of $410,000. This makes Babbitt a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Babbitt?
20% Down Payment
$31,112
on $155,559
Monthly P&I
$811/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,030/mo
incl. taxes & insurance
Income Needed
$41,200
gross annual (30% rule)
10% Down Option
$15,556
+ PMI applies
Loan Amount (20% dn)
$124,447
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Babbitt, MN?
The median home value in Babbitt is $155,559 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.1% year-over-year.
How much have home prices changed in Babbitt?
Over the past year, home values in Babbitt have increased by 8.1%. Over five years, prices have risen approximately 36.6%.
How much do I need to earn to buy a home in Babbitt?
To comfortably afford the median home price of $155,559 with a 20% down payment ($31,112) at today's rates (6.8%), you'd need a gross annual income of approximately $41,200. This assumes keeping total housing costs at or below 30% of gross income.
How does Babbitt compare to the national average home price?
The national median home value is approximately $410,000. At $155,559, homes in Babbitt are 62% below the national average.
What metro area is Babbitt part of?
Babbitt is part of the Duluth, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.