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 | Clearwater County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $330,769 | $243,729 | $242,182 |
| Price Trend (Annual %) | 35.4% | 7.9% | 8.2% |
| Median Gross Rent | $739 | $1,234 | $1,342 |
| Rent Trend (Annual %) | 4.7% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Clearwater County is about 36% higher than in Minnesota. Rent is about 40% 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 Clearwater County, up about 35.4% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Clearwater County rose about 32.4% between 2015 and 2023, from $558 to $739. Over the same span, rent in Minnesota rose about 45.7%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in Clearwater County.
Buying the median-priced home in Clearwater County costs roughly 37.3 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 Clearwater County. The price-to-rent ratio in Minnesota is about 16.5.
| Metric | Clearwater County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $330,769 | $243,729 | $242,182 |
| Median Household Income | $65,899 | $88,383 | $78,145 |
| Price-to-Income Ratio | 5.0 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Clearwater County rose about 162.7%, while median household income rose about 73.6% 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 | Clearwater County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.2% | 65.6% | 58.2% |
| Rental Rate | 13.8% | 25.0% | 31.3% |
| Vacancy Rate | 27.1% | 9.4% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Clearwater County has a homeownership rate of 59.2%, lower than the Minnesota average of 65.6%. Its housing vacancy rate is 27.1%, compared with 9.4% in Minnesota.
Housing Stock
| Metric | Clearwater County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.44 people | 2.54 people |
| Median Structure Built Year | 1981 | 1976 | 1978 |
| Median Number of Rooms | 5.4 | 6.1 | 5.5 |
The typical housing unit in Clearwater County was built around 1981. On average, 2.6 people live in a home with about 5.4 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Clearwater County, Minnesota.
What is the median home price in Clearwater County, Minnesota?
The median home price in Clearwater County, Minnesota is $330,769, higher than the Minnesota average of $243,729.
What is the average home price in Clearwater 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 Clearwater County, Minnesota?
The median gross rent in Clearwater County, Minnesota is $739 per month, lower than the Minnesota average of $1,234.
What was the median gross rent in Clearwater County in 2020?
In 2020, the median gross rent in Clearwater County, Minnesota was $665 per month.
What is the price-to-rent ratio in Clearwater County, Minnesota?
The price-to-rent ratio in Clearwater County, Minnesota is about 37.3, meaning it would take roughly 37.3 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 Clearwater County.
Are home prices or rent rising faster in Clearwater County, Minnesota?
Both home prices and rent are rising in Clearwater County, up about 35.4% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Clearwater County, Minnesota?
59.2% of households in Clearwater County, Minnesota own their home, lower than the Minnesota average of 65.6%.
What is the vacancy rate in Clearwater County, Minnesota?
The housing vacancy rate in Clearwater County, Minnesota is 27.1%, higher than the Minnesota average of 9.4%.