Two Harbors, Minnesota.
Typical home $292,671 (+4.5% in a year). Duluth, MN-WI metro.
to buy the typical home at today's mortgage rate — +$867 (+129%) since Jan 2020.
- 1 year
- Up $12,531 +4%
- $280,141$292,671 since Sep 2025
- 5 years
- Up $64,388 +28%
- $228,283$292,671 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Two Harbors$1,536
- Minnesota$1,831
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 14 years.
Typical home values in Two Harbors, MN rose 4.5% over the past year — faster than the nation's +1.2%.
Living in Two Harbors, Lake County, Minnesota
Two Harbors is a city of 3,633 people in Lake County. Half its households earn more than $65,625 a year and half less, against $75,541 across Lake County; 12% of its people live below the poverty line. 68% of its homes are lived in by their owners and 32% are rented. Unemployment in Lake County was 4.3% in August 2026, and the county had 2.5% more jobs in 2025 than the year before. The most residents work in schools and health care, then restaurants and hotels.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Two Harbors is a small city in Lake County, Minnesota, on the shore of Lake Superior. Residents are somewhat older than the typical American town, and most homes are lived in by their owners. Incomes run below the county's, and winters are long and cold, with a great deal of snow and a fair amount of precipitation across the year. January is the coldest month, and summers are mild, warming to comfortable highs in July.
Work. Many residents work in schools, hospitals and social care, followed by restaurants, hotels and entertainment, manufacturing and retail. Among the largest workplaces in town are Lake County, Lake View Memorial Hospital and the Lake Superior School District. Fewer adults hold a four-year degree than in many places, and very few people work from home, so most commute to a job, with a typical trip of moderate length.
Things to do. In or beside town, the Two Harbors Lighthouse is a museum, and the Little Stewart River and Stewart River run close by. A short drive away, the Knife River is a river to explore, and the wrecks of the SS Benjamin Noble and SS Harriet B. are archaeological sites. For a longer outing, Gooseberry Falls State Park and Split Rock Lighthouse State Park are protected areas a longer drive away.
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- 1,545households
- 22%of adults have a degree
- 12%below the poverty line
- 25 mintypical commute
- 4%work from home
What residents work in
Employed residents by industry, from the Census survey. Lake County had 4,000 jobs in 2025, 2.5% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 24° and lows near 7°; warmest in July, with highs near 75° and lows near 54°. About 61 inches of snow and 32 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Two Harbors weather station, under a mile away (NOAA).
Largest workplaces in Two Harbors
- Lake CountyGeneral public administration152
- Lake View Memorial HospitalCritical access hospital110FTE
- City of Two HarborsCity and town managers' offices100
- Lake Superior School DistrictK-12 education71
- Wisconsin Central RailroadLoading and unloading services at ports and harbors71
- Castle Danger BreweryBeer brewing55
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 6 workplaces with 20 or more staff, 591 people in all. Hospitals come from their Medicare cost reports (CMS, 2023); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Strong windVery high
- Cold wavesVery high
- LightningVery high
- Winter weatherVery high
- HailRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Two Harbors’ census tracts, against the rest of the country; all of them together, relatively high. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Lake County and the Duluth, MN-WI metro.
Two Harbors home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Two Harbors$292,671
- Minnesota$348,778
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 5 Two Harbors listings — the market is heating up.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Two Harbors18.79%
- United States26.90%
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Two Harbors57
New listings per month
Sellers arriving at the market.
- Two Harbors11
Zip codes with a Two Harbors address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Two Harbors — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.