Red Wing, MN housing market
The typical Red Wing home is worth about $284,000, about the same as a year ago, 19% below the Minnesota typical home. Homes typically sell in 88 days, close to asking.
Home values, sales, trends and how Red Wing compares with the towns next door — updated as new data is published.
Red Wing at a glance
A seller's market
Supply is tight — about 2 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Red Wing | Minnesota |
|---|---|---|
| 2017 | $173,000 | $217,000 |
| 2018 | $183,000 | $232,000 |
| 2019 | $193,000 | $246,000 |
| 2020 | $207,000 | $259,000 |
| 2021 | $221,000 | $282,000 |
| 2022 | $248,000 | $313,000 |
| 2023 | $264,000 | $325,000 |
| 2024 | $269,000 | $331,000 |
| 2025 | $277,000 | $341,000 |
| 2026 | $285,000 | $349,000 |
| August 2026 | $284,000 | $351,000 |
12 new homes permitted in 2025
Builders were permitted 12 new homes in Red Wing in 2025, all single-family houses, worth about $5.1 million to build. That's 0.7 per 1,000 residents, slower than across Minnesota (3.8). Over the past 10 years, Red Wing has permitted 484 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Red Wing gained 88 residents while 320 new homes were permitted: about 0.3 new residents per new home. Building outpaced population growth, which usually means smaller households or homes used part of the year. Across Minnesota: 2.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 7 | 5 | 2 | $1.8 million |
| 2025 | 12 | 12 | 0 | $5.1 million |
| 2024 | 9 | 7 | 2 | $3 million |
| 2023 | 14 | 14 | 0 | $2.8 million |
| 2022 | 97 | 19 | 78 | $13 million |
| 2021 | 17 | 17 | 0 | $4.1 million |
| 2020 | 86 | 20 | 66 | $10.1 million |
| 2019 | 127 | 19 | 108 | $14 million |
| 2018 | 24 | 24 | 0 | $5.2 million |
| 2017 | 23 | 23 | 0 | $3.7 million |
| 2016 | 75 | 15 | 60 | $7.2 million |
| 2015 | 18 | 18 | 0 | $3.9 million |
| 2014 | 18 | 18 | 0 | $4.8 million |
| 2013 | 7 | 7 | 0 | $1.6 million |
| 2012 | 7 | 7 | 0 | $1.3 million |
| 2011 | 9 | 9 | 0 | $1.5 million |
| 2010 | 12 | 12 | 0 | $2.3 million |
| 2009 | 6 | 6 | 0 | $1.1 million |
| 2008 | 27 | 27 | 0 | $4.2 million |
| 2007 | 39 | 39 | 0 | $6.1 million |
| 2006 | 52 | 52 | 0 | $8.1 million |
| 2005 | 63 | 63 | 0 | $9.8 million |
| 2004 | 65 | 65 | 0 | $10.1 million |
| 2003 | 61 | 61 | 0 | $9.9 million |
| 2002 | 60 | 60 | 0 | $10.6 million |
| 2001 | 65 | 65 | 0 | $11.9 million |
| 2000 | 55 | 55 | 0 | $9 million |
How Red Wing ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Red Wing and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Red Wing | $284K | +0.1% | $1,290 | 12 | $67,192 |
| Trenton | — | +14.1%† | $1,520 | — | $109,750 |
| Diamond Bluff | — | +14.1%† | $1,530 | — | $74,605 |
| Wacouta | — | +3.6%† | $1,150 | — | $98,750 |
| Hay Creek | — | +3.6%† | $1,160 | — | $127,670 |
| Featherstone | — | +3.7%† | $1,150 | — | $121,250 |
| Welch | $489K | +2.4% | $1,520 | — | $125,000 |
† FHFA price index change, where Zillow has no home value for the town.
4.2 years of income
The typical Red Wing home costs about 4.2 years of the town's median household income, about the same as across Minnesota (3.9).
How Red Wing ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,290
HUD's Fair Market Rent for a two-bedroom in Red Wing is $1,290 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Red Wing pay a median of $969, so moving in tends to cost more than staying put. A two-bedroom takes about 23% of the town's median household income.
Studio $910 · 4 bedrooms $2,130
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55066, 55089; Goodhue County, MN), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.