Cottage Grove, Minnesota Housing Market Prices
Cottage Grove 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 88% below the Minnesota median$27,500
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Median rent 38% above the Minnesota median$1,770
Housing Market Overview
| Metric | Cottage Grove | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $27,500 | $236,718 | $248,835 |
| Price Trend (Annual %) | -6.1% | 6.6% | 7.5% |
| Median Gross Rent | $1,770 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.5% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cottage Grove is about 88% lower than in Minnesota. Rent is about 38% higher 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 Cottage Grove: home prices fell about 6.1% a year while rent rose about 5.5% a year. That is an unusual pattern worth watching.
Median rent in Cottage Grove rose about 58.4% between 2015 and 2024, from $1,118 to $1,770. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 0.2 yearly household incomes in Cottage Grove.
Buying the median-priced home in Cottage Grove costs roughly 1.3 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 Cottage Grove. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Cottage Grove | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $27,500 | $236,718 | $248,835 |
| Median Household Income | $122,606 | $89,852 | $80,455 |
| Price-to-Income Ratio | 0.2 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Cottage Grove fell about 88.0%, while median household income rose about 44.1% 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 | Cottage Grove | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 87.7% | 65.5% | 58.5% |
| Rental Rate | 11.7% | 25.2% | 31.2% |
| Vacancy Rate | 0.6% | 9.3% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Cottage Grove has a homeownership rate of 87.7%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 0.6%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Cottage Grove | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.85 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1988 | 1976 | 1978 |
| Median Number of Rooms | 7.1 | 6.1 | 5.5 |
The typical housing unit in Cottage Grove was built around 1988. On average, 2.8 people live in a home with about 7.1 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Cottage Grove, Minnesota.
What is the median home price in Cottage Grove, Minnesota?
The median home price in Cottage Grove, Minnesota is $27,500, lower than the Minnesota average of $236,718.
What is the average home price in Cottage Grove, Minnesota?
The typical home price in Cottage Grove, Minnesota, reported as the median sale price, is $27,500. 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 Cottage Grove, Minnesota?
The median gross rent in Cottage Grove, Minnesota is $1,770 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in Cottage Grove in 2020?
In 2020, the median gross rent in Cottage Grove, Minnesota was $1,459 per month.
What is the price-to-rent ratio in Cottage Grove, Minnesota?
The price-to-rent ratio in Cottage Grove, Minnesota is about 1.3, meaning it would take roughly 1.3 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 Cottage Grove.
Are home prices or rent rising faster in Cottage Grove, Minnesota?
Home prices and rent are moving in opposite directions in Cottage Grove: home prices fell about 6.1% a year while rent rose about 5.5% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Cottage Grove, Minnesota?
87.7% of households in Cottage Grove, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Cottage Grove, Minnesota?
The housing vacancy rate in Cottage Grove, Minnesota is 0.6%, lower than the Minnesota average of 9.3%.
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