Real Estate Investing in Harris, Minnesota (55032)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 55032 (Harris, MN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.4% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Harris, MN (55032)?
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Market Analysis: 55032 Harris
ZIP 55032 inside Chisago County looks affordable on the surface — median value of $420K — but the discount exists for reasons that a careful buyer should understand before committing.
Rent of $1,611/mo on a $420K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 55032 sits below the stated 0.0% once reality is priced in.
Regionally, 55032 sits on the difficult end of the MN spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
On the rental side, 3,353 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 55032 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Harris:
Property Strategy for 55032
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $348,884 | $1,790 | 3.7% | +7.2% | $174,442 |
| 3BR | $414,451 | $2,370 | 4.1% | +7.6% | $138,150 |
| 4BR | $466,187 | $2,650 | 4.1% | +7.4% | $116,547 |
Market Trends
Home Value History (with trend line)
📊 How Does 55032 Compare?
| Metric | 55032 | Harris | Minnesota |
|---|---|---|---|
| Home Value | $420,154 | $420,154 | $340,597 |
| 5-Year CAGR | 4.2% | 4.2% | 4.9% |
| Avg Rent | $1,611 | $1,611 | - |
| Cap Rate | 3.0% | 3.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 55032 (Harris, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $420,154 |
| Monthly Rent | $1,611 |
| Price-to-Rent | 21.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 7.2% |
📈 Home Appreciation
| 1-Year | +8.8% ▲ |
| 3-Year CAGR | +4.1% ▲ |
| 5-Year CAGR | +4.2% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 55032
Population: 3,353
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
What is the typical rental rate in Harris, MN?
Harris, MN rentals go for roughly $1,611/mo a month. That puts gross yield in solid territory relative to $420K acquisition costs.
How tight is the rental market in Harris, MN?
Harris, MN vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Is Harris in MN worth investing in?
The 3.0/5 investability rating in Harris, MN reflects its $420K prices and $1,611/mo rents. Investors generally consider it a solid option within MN.
Is housing expensive in Harris, MN?
In Harris, MN the median home value sits at $420K. Against the broader MN market, that reads as reasonable for most investors.
What does house hacking look like in Harris, MN?
Harris, MN offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,611/mo rent level.
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