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 | Crow Wing County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $366,666 | $243,729 | $242,182 |
| Price Trend (Annual %) | 12.8% | 7.9% | 8.2% |
| Median Gross Rent | $961 | $1,234 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Crow Wing County is about 50% higher than in Minnesota. Rent is about 22% 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 Crow Wing County, up about 12.8% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Crow Wing County rose about 31.7% between 2015 and 2023, from $730 to $961. Over the same span, rent in Minnesota rose about 45.7%.
Affordability
On average, housing unit costs 5.1 yearly household incomes in Crow Wing County.
Buying the median-priced home in Crow Wing County costs roughly 31.8 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 Crow Wing County. The price-to-rent ratio in Minnesota is about 16.5.
| Metric | Crow Wing County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $366,666 | $243,729 | $242,182 |
| Median Household Income | $71,997 | $88,383 | $78,145 |
| Price-to-Income Ratio | 5.1 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Crow Wing County rose about 109.5%, while median household income rose about 63.2% 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 | Crow Wing County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.8% | 65.6% | 58.2% |
| Rental Rate | 15.4% | 25.0% | 31.3% |
| Vacancy Rate | 31.8% | 9.4% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Crow Wing County has a homeownership rate of 52.8%, lower than the Minnesota average of 65.6%. Its housing vacancy rate is 31.8%, compared with 9.4% in Minnesota.
Housing Stock
| Metric | Crow Wing County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.44 people | 2.54 people |
| Median Structure Built Year | 1984 | 1976 | 1978 |
| Median Number of Rooms | 5.7 | 6.1 | 5.5 |
The typical housing unit in Crow Wing County was built around 1984. On average, 2.3 people live in a home with about 5.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Crow Wing County, Minnesota.
What is the median home price in Crow Wing County, Minnesota?
The median home price in Crow Wing County, Minnesota is $366,666, higher than the Minnesota average of $243,729.
What is the average home price in Crow Wing 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 Crow Wing County, Minnesota?
The median gross rent in Crow Wing County, Minnesota is $961 per month, lower than the Minnesota average of $1,234.
What was the median gross rent in Crow Wing County in 2020?
In 2020, the median gross rent in Crow Wing County, Minnesota was $806 per month.
What is the price-to-rent ratio in Crow Wing County, Minnesota?
The price-to-rent ratio in Crow Wing County, Minnesota is about 31.8, meaning it would take roughly 31.8 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 Crow Wing County.
Are home prices or rent rising faster in Crow Wing County, Minnesota?
Both home prices and rent are rising in Crow Wing County, up about 12.8% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Crow Wing County, Minnesota?
52.8% of households in Crow Wing County, Minnesota own their home, lower than the Minnesota average of 65.6%.
What is the vacancy rate in Crow Wing County, Minnesota?
The housing vacancy rate in Crow Wing County, Minnesota is 31.8%, higher than the Minnesota average of 9.4%.