Duluth, MN home values, income, and owner costs

In Duluth, MN, the 2024 ACS reports a median owner-occupied home value of $242,700, median household income of $68,807, and median selected monthly owner costs of $1,573 for owners with a mortgage. For the decision at hand, together, those three reference points can help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $1,573 measure combines recurring ownership expenses instead of real estate taxes alone. In practical terms, a useful affordability review starts with $242,700, $68,807, and $1,573, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.

Duluth, MN's $242,700 median home-value estimate is below the statewide $329,300 estimate, with a reported city-to-state gap of 26.3%. For the decision at hand, that 26.3% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Duluth, MN. It does not mean every local property is 26.3% away from a comparable property elsewhere in the state, because the medians reflect different housing mixes and geographies. In practical terms, a borrower may use $242,700 and $329,300 to decide which assumptions need local replacement first, then compare actual properties and current financing disclosures on the same basis.