Truman, MN housing market
The typical Truman home is worth about $218,000, up 5.5% in a year, 38% below the Minnesota typical home. Homes typically sell in 40 days, a little above asking.
Home values, sales, trends and how Truman compares with the towns next door — updated as new data is published.
Truman at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Typical home value, 2016–2026
Show as a table
| January | Truman | Minnesota |
|---|---|---|
| 2017 | $111,000 | $217,000 |
| 2018 | $111,000 | $232,000 |
| 2019 | $115,000 | $246,000 |
| 2020 | $121,000 | $259,000 |
| 2021 | $138,000 | $282,000 |
| 2022 | $163,000 | $313,000 |
| 2023 | $173,000 | $325,000 |
| 2024 | $185,000 | $331,000 |
| 2025 | $196,000 | $341,000 |
| 2026 | $212,000 | $349,000 |
| August 2026 | $218,000 | $351,000 |
No new homes permitted in 2025
No permits for new homes were issued in Truman in 2025. The last year with any was 2009 (1 new home).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Truman's population fell by 23 and no new homes were permitted. 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) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 1 | 1 | 0 | $158,000 |
| 2008 | 1 | 1 | 0 | $78,000 |
| 2007 | 8 | 8 | 0 | $830,000 |
| 2006 | 0 | 0 | 0 | — |
| 2005 | 0 | 0 | 0 | — |
| 2004 | 0 | 0 | 0 | — |
| 2003 | 0 | 0 | 0 | — |
| 2002 | 1 | 1 | 0 | $45,000 |
| 2001 | 2 | 2 | 0 | $213,000 |
| 2000 | 2 | 0 | 2 | $167,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
3.6 years of income
The typical Truman home costs about 3.6 years of the town's median household income, less than across Minnesota (3.9 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,060
HUD's Fair Market Rent for a two-bedroom in Truman is $1,060 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Truman pay a median of $1,052. A two-bedroom takes about 21% of the town's median household income.
Studio $870 · 4 bedrooms $1,780
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (56088; Mankato, MN MSA), 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.