Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Brown County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $488,890 | $243,729 | $242,182 |
| Price Trend (Annual %) | 25.6% | 7.9% | 8.2% |
| Median Gross Rent | $931 | $1,234 | $1,342 |
| Rent Trend (Annual %) | 6.8% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Brown County is about 101% higher than in Minnesota. Rent is about 25% lower than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Brown County, up about 25.6% and 6.8% a year respectively. Home prices are changing faster.
Median rent in Brown County rose about 53.5% between 2015 and 2023, from $606 to $931. Over the same span, rent in Minnesota rose about 45.7%.
Affordability
On average, housing unit costs 7.1 yearly household incomes in Brown County.
Buying the median-priced home in Brown County costs roughly 43.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Brown County. The price-to-rent ratio in Minnesota is about 16.5.
| Metric | Brown County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $488,890 | $243,729 | $242,182 |
| Median Household Income | $69,048 | $88,383 | $78,145 |
| Price-to-Income Ratio | 7.1 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Brown County rose about 382.2%, while median household income rose about 43.1% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Brown County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.7% | 65.6% | 58.2% |
| Rental Rate | 19.1% | 25.0% | 31.3% |
| Vacancy Rate | 7.3% | 9.4% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Brown County has a homeownership rate of 73.7%, higher than the Minnesota average of 65.6%. Its housing vacancy rate is 7.3%, compared with 9.4% in Minnesota.
Housing Stock
| Metric | Brown County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.25 people | 2.44 people | 2.54 people |
| Median Structure Built Year | 1958 | 1976 | 1978 |
| Median Number of Rooms | 6.5 | 6.1 | 5.5 |
The typical housing unit in Brown County was built around 1958. On average, 2.3 people live in a home with about 6.5 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Brown County, Minnesota.
What is the median home price in Brown County, Minnesota?
The median home price in Brown County, Minnesota is $488,890, higher than the Minnesota average of $243,729.
What is the average home price in Brown County, Minnesota?
The typical home price in %s, reported as the median sale price, is %s. 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 Brown County, Minnesota?
The median gross rent in Brown County, Minnesota is $931 per month, lower than the Minnesota average of $1,234.
What was the median gross rent in Brown County in 2020?
In 2020, the median gross rent in Brown County, Minnesota was $662 per month.
What is the price-to-rent ratio in Brown County, Minnesota?
The price-to-rent ratio in Brown County, Minnesota is about 43.8, meaning it would take roughly 43.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Brown County.
Are home prices or rent rising faster in Brown County, Minnesota?
Both home prices and rent are rising in Brown County, up about 25.6% and 6.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Brown County, Minnesota?
73.7% of households in Brown County, Minnesota own their home, higher than the Minnesota average of 65.6%.
What is the vacancy rate in Brown County, Minnesota?
The housing vacancy rate in Brown County, Minnesota is 7.3%, lower than the Minnesota average of 9.4%.