Market Overview
Home Prices in Hermantown, MN
The median home value in Hermantown, MN is $442,270 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.4% compared to a year ago and up 4.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hermantown are priced8% above average. Hermantown is part of the Duluth, MN-WI metro area.
Over the past five years, Hermantown home values have risen by approximately32.7%, reflecting strong long-term appreciation in this market.
Price History
Hermantown Home Price Trend
City Comparison
Hermantown vs. National Median
At $442,270, homes in Hermantown cost 8% above the national median of $410,000. Buyers in Hermantown should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Hermantown?
20% Down Payment
$88,454
on $442,270
Monthly P&I
$2,307/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,930/mo
incl. taxes & insurance
Income Needed
$117,200
gross annual (30% rule)
10% Down Option
$44,227
+ PMI applies
Loan Amount (20% dn)
$353,816
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 Hermantown, MN?
The median home value in Hermantown is $442,270 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.4% year-over-year.
How much have home prices changed in Hermantown?
Over the past year, home values in Hermantown have increased by 7.4%. Over five years, prices have risen approximately 32.7%.
How much do I need to earn to buy a home in Hermantown?
To comfortably afford the median home price of $442,270 with a 20% down payment ($88,454) at today's rates (6.8%), you'd need a gross annual income of approximately $117,200. This assumes keeping total housing costs at or below 30% of gross income.
How does Hermantown compare to the national average home price?
The national median home value is approximately $410,000. At $442,270, homes in Hermantown are 8% above the national average.
What metro area is Hermantown part of?
Hermantown is part of the Duluth, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.