Market Overview
Home Prices in Hoyt Lakes, MN
The median home value in Hoyt Lakes, MN is $131,310 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.4% compared to a year ago and up 1.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hoyt Lakes are priced68% below average. Hoyt Lakes is part of the Duluth, MN-WI metro area.
Over the past five years, Hoyt Lakes home values have risen by approximately39.8%, reflecting strong long-term appreciation in this market.
Price History
Hoyt Lakes Home Price Trend
City Comparison
Hoyt Lakes vs. National Median
At $131,310, homes in Hoyt Lakes cost 68% below the national median of $410,000. This makes Hoyt Lakes a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Hoyt Lakes?
20% Down Payment
$26,262
on $131,310
Monthly P&I
$685/mo
30-yr @ 6.8%
Total Monthly Est.
~$870/mo
incl. taxes & insurance
Income Needed
$34,800
gross annual (30% rule)
10% Down Option
$13,131
+ PMI applies
Loan Amount (20% dn)
$105,048
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 Hoyt Lakes, MN?
The median home value in Hoyt Lakes is $131,310 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.4% year-over-year.
How much have home prices changed in Hoyt Lakes?
Over the past year, home values in Hoyt Lakes have increased by 4.4%. Over five years, prices have risen approximately 39.8%.
How much do I need to earn to buy a home in Hoyt Lakes?
To comfortably afford the median home price of $131,310 with a 20% down payment ($26,262) at today's rates (6.8%), you'd need a gross annual income of approximately $34,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Hoyt Lakes compare to the national average home price?
The national median home value is approximately $410,000. At $131,310, homes in Hoyt Lakes are 68% below the national average.
What metro area is Hoyt Lakes part of?
Hoyt Lakes is part of the Duluth, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.