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Featured local agent — Orono, MN
Sarah Mitchell
Compass Real Estate · Orono, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Orono, MN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$649,900median sale price
How is the Orono, MN housing market right now?
The median home sale price in Orono, MN is $649,900, down 31.2% year-over-year. Homes sell in an average of 30 days with 47 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Orono a buyer's or seller's market?
Orono, MN is currently a balanced market, based on 3.6 months of supply and homes selling in about 30 days. How we determine this →
Homes sold
13
Last 12 weeks
Days on market
30
Average pace
Active listings
47
3.6 months supply
Sale-to-list
98.0%
Below asking
What does the Orono housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $649,900 |
| Median list price | $1.05M |
| Year-over-year price change | -31.2% |
| Average days on market | 30 days |
| Active inventory | 47 listings |
| Months of supply | 3.6 months |
| Sale-to-list price ratio | 98.0% |
| Median price per sq ft | $388/sq ft |
| Homes sold (latest month) | 13 |
| New listings (latest month) | 26 |
| Listings with a price cut | 21.3% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Orono by property type?
How the Orono, MN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $810,000 | $391/sq ft | 11 | 22 days |
| Condo / Co-op | $384,900 | $251/sq ft | 1 | 24 days |
| Townhouse | $547,450 | $212/sq ft | 2 | 37 days |
Source: Redfin · Updated monthly
The Orono housing market is currently classified as a balanced market with a median sale price of $649,900. Prices have fallen 31.2% compared to last year, with homes spending an average of 30 days on market, indicating 3.6 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 6.4x provides context for how home values compare to local earning capacity.
Homes for sale in Orono
There are currently 47 homes listed for sale in Orono, Minnesota. The median listing price is $1.0M.
Active listings
47
Homes on market
Median list price
$1.0M
Avg. days on market
30
Days until sale
New this week
26
Newly listed
Who lives in Orono?
Population
8,205
Median income
$181,875/yr
Median age
47.2 years
Owner-occupied
90.5%
College grads
68.9%
Avg commute
25.2 min
Source: U.S. Census Bureau ACS
What are homes worth in Orono?
Zillow home value
$1.16M
Zillow rent index
$3,045/mo
Price-to-rent ratio
31.6x
Price-to-income
6.4x
Source: Zillow Research
What is it like to live in Orono?
Orono is a community of approximately 8K residents with a median age of 47.2 years.The median household income is $181,875, which reflects a relatively affluent area with strong earning potential. 68.9% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 90.5%, reflecting strong community stability and long-term resident commitment. The average commute time is 25.2 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Orono offers a balanced lifestyle with accessible home values relative to local income levels.
Which cities are near Orono, MN?
Want a head-to-head view? Compare Orono side-by-side with any other U.S. city using our market-comparison tool.
Is Orono a good real estate investment market?
For investors evaluating Orono, the price-to-rent ratio of 31.6x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 31.2% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Orono's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Orono's median home price.
Frequently asked questions
What is the average home price in Orono?
The median home sale price in Orono is $649,900, down 31.2% from last year.
How long do homes stay on market in Orono?
Homes typically spend 30 days on market before going under contract.
What is the median income in Orono?
The median household income is $181,875 per year.
Is Orono a buyer's or seller's market?
With 3.6 months of supply, Orono is currently a balanced market.
What is the Zillow home value estimate for Orono?
The Zillow Home Value Index (ZHVI) for Orono is $1.16M, representing the typical home value in the area.
What is the median condo price in Orono?
The median condo/co-op sale price in Orono, MN is $384,900, compared to $810,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Orono?
The median single-family home price in Orono, MN is $810,000 (about $391 per square foot).
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