Market Overview
Home Prices in Makinen, MN
The median home value in Makinen, MN is $226,312 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 13.8% compared to a year ago and up 9.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Makinen are priced45% below average. Makinen is part of the Duluth, MN-WI metro area.
Over the past five years, Makinen home values have risen by approximately35.6%, reflecting strong long-term appreciation in this market.
Price History
Makinen Home Price Trend
City Comparison
Makinen vs. National Median
At $226,312, homes in Makinen cost 45% below the national median of $410,000. This makes Makinen a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Makinen?
20% Down Payment
$45,262
on $226,312
Monthly P&I
$1,180/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,499/mo
incl. taxes & insurance
Income Needed
$59,960
gross annual (30% rule)
10% Down Option
$22,631
+ PMI applies
Loan Amount (20% dn)
$181,050
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 Makinen, MN?
The median home value in Makinen is $226,312 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 13.8% year-over-year.
How much have home prices changed in Makinen?
Over the past year, home values in Makinen have increased by 13.8%. Over five years, prices have risen approximately 35.6%.
How much do I need to earn to buy a home in Makinen?
To comfortably afford the median home price of $226,312 with a 20% down payment ($45,262) at today's rates (6.8%), you'd need a gross annual income of approximately $59,960. This assumes keeping total housing costs at or below 30% of gross income.
How does Makinen compare to the national average home price?
The national median home value is approximately $410,000. At $226,312, homes in Makinen are 45% below the national average.
What metro area is Makinen part of?
Makinen is part of the Duluth, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.