Aitkin County, Minnesota Housing Market Prices
Updated
Aitkin County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 78% below the Minnesota median Cheaper than 91% of counties in Minnesota$51,671
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Median rent 32% below the Minnesota median$868
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Aitkin County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $51,671 | $236,718 | $248,835 |
| Price Trend (Annual %) | -10.5% | 6.6% | 7.5% |
| Median Gross Rent | $868 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Aitkin County is about 78% lower than in Minnesota. Rent is about 32% lower than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Aitkin County: home prices fell about 10.5% a year while rent rose about 4.3% a year. That is an unusual pattern worth watching.
Median rent in Aitkin County rose about 37.3% between 2015 and 2024, from $633 to $868. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 0.8 yearly household incomes in Aitkin County.
Buying the median-priced home in Aitkin County costs roughly 5.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Aitkin County. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Aitkin County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $51,671 | $236,718 | $248,835 |
| Median Household Income | $60,982 | $89,852 | $80,455 |
| Price-to-Income Ratio | 0.8 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Aitkin County fell about 72.5%, while median household income rose about 45.2% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Aitkin County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 43.2% | 65.5% | 58.5% |
| Rental Rate | 7.5% | 25.2% | 31.2% |
| Vacancy Rate | 49.3% | 9.3% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Aitkin County has a homeownership rate of 43.2%, lower than the Minnesota average of 65.5%. Its housing vacancy rate is 49.3%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Aitkin County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.19 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1982 | 1976 | 1978 |
| Median Number of Rooms | 5.6 | 6.1 | 5.5 |
The typical housing unit in Aitkin County was built around 1982. On average, 2.2 people live in a home with about 5.6 rooms, staying for about 17.0 years on average.
Aitkin County, MN Housing Compared With Nearby Counties
Aitkin County, MN is the smallest of the 4 counties compared here, 16,059 residents against a local median of 36,511. Aitkin County, MN's median home price, at $51,671, runs 81% below the $275,520 typical of the counties around it.
The counties themselves spread $184,145 on median home price, so Aitkin County, MN sits at one end of an already wide local range rather than apart from it. Aitkin County, MN has the 4th highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Aitkin County, MN | 16,059 | $51,671 #4/4 | $868 #4/4 | 85.3% #1/4 |
| Crow Wing County, MN | 67,686 | $348,837 | $971 | 77.0% |
| Mille Lacs County, MN | 27,123 | $275,520 | $903 | 77.9% |
| Carlton County, MN | 36,511 | $164,691 | $1,009 | 80.0% |
Frequently Asked Questions
Common questions about the housing market in Aitkin County, Minnesota.
What is the median home price in Aitkin County, Minnesota?
The median home price in Aitkin County, Minnesota is $51,671, lower than the Minnesota average of $236,718.
What is the average home price in Aitkin County, Minnesota?
The typical home price in Aitkin County, Minnesota, reported as the median sale price, is $51,671. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Aitkin County, Minnesota?
The median gross rent in Aitkin County, Minnesota is $868 per month, lower than the Minnesota average of $1,280.
What was the median gross rent in Aitkin County in 2020?
In 2020, the median gross rent in Aitkin County, Minnesota was $740 per month.
What is the price-to-rent ratio in Aitkin County, Minnesota?
The price-to-rent ratio in Aitkin County, Minnesota is about 5.0, meaning it would take roughly 5.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Aitkin County.
Are home prices or rent rising faster in Aitkin County, Minnesota?
Home prices and rent are moving in opposite directions in Aitkin County: home prices fell about 10.5% a year while rent rose about 4.3% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Aitkin County, Minnesota?
43.2% of households in Aitkin County, Minnesota own their home, lower than the Minnesota average of 65.5%.
What is the vacancy rate in Aitkin County, Minnesota?
The housing vacancy rate in Aitkin County, Minnesota is 49.3%, higher than the Minnesota average of 9.3%.
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