Market Overview
Home Prices in Carlton, MN
The median home value in Carlton, MN is $338,504 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.1% compared to a year ago and up 4.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Carlton are priced17% below average. Carlton is part of the Duluth, MN-WI metro area.
Over the past five years, Carlton home values have risen by approximately38.2%, reflecting strong long-term appreciation in this market.
Price History
Carlton Home Price Trend
City Comparison
Carlton vs. National Median
At $338,504, homes in Carlton cost 17% below the national median of $410,000. This makes Carlton a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Carlton?
20% Down Payment
$67,701
on $338,504
Monthly P&I
$1,765/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,242/mo
incl. taxes & insurance
Income Needed
$89,680
gross annual (30% rule)
10% Down Option
$33,850
+ PMI applies
Loan Amount (20% dn)
$270,803
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 Carlton, MN?
The median home value in Carlton is $338,504 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.1% year-over-year.
How much have home prices changed in Carlton?
Over the past year, home values in Carlton have increased by 3.1%. Over five years, prices have risen approximately 38.2%.
How much do I need to earn to buy a home in Carlton?
To comfortably afford the median home price of $338,504 with a 20% down payment ($67,701) at today's rates (6.8%), you'd need a gross annual income of approximately $89,680. This assumes keeping total housing costs at or below 30% of gross income.
How does Carlton compare to the national average home price?
The national median home value is approximately $410,000. At $338,504, homes in Carlton are 17% below the national average.
What metro area is Carlton part of?
Carlton is part of the Duluth, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.