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 | Douglas County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $161,461 | $243,729 | $242,182 |
| Price Trend (Annual %) | 6.3% | 7.9% | 8.2% |
| Median Gross Rent | $895 | $1,234 | $1,342 |
| Rent Trend (Annual %) | 3.2% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Douglas County is about 34% lower than in Minnesota. Rent is about 27% 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 Douglas County, up about 6.3% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Douglas County rose about 22.8% between 2015 and 2023, from $729 to $895. Over the same span, rent in Minnesota rose about 45.7%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Douglas County.
Buying the median-priced home in Douglas County costs roughly 15.0 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Douglas County. The price-to-rent ratio in Minnesota is about 16.5.
| Metric | Douglas County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $161,461 | $243,729 | $242,182 |
| Median Household Income | $76,815 | $88,383 | $78,145 |
| Price-to-Income Ratio | 2.1 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Douglas County rose about 29.2%, while median household income rose about 71.0% between 2009 and 2023 — 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 | Douglas County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.3% | 65.6% | 58.2% |
| Rental Rate | 18.6% | 25.0% | 31.3% |
| Vacancy Rate | 21.1% | 9.4% | 10.6% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Douglas County has a homeownership rate of 60.3%, lower than the Minnesota average of 65.6%. Its housing vacancy rate is 21.1%, compared with 9.4% in Minnesota.
Housing Stock
| Metric | Douglas County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.22 people | 2.44 people | 2.54 people |
| Median Structure Built Year | 1984 | 1976 | 1978 |
| Median Number of Rooms | 6.4 | 6.1 | 5.5 |
The typical housing unit in Douglas County was built around 1984. On average, 2.2 people live in a home with about 6.4 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Douglas County, Minnesota.
What is the median home price in Douglas County, Minnesota?
The median home price in Douglas County, Minnesota is $161,461, lower than the Minnesota average of $243,729.
What is the average home price in Douglas 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 Douglas County, Minnesota?
The median gross rent in Douglas County, Minnesota is $895 per month, lower than the Minnesota average of $1,234.
What was the median gross rent in Douglas County in 2020?
In 2020, the median gross rent in Douglas County, Minnesota was $710 per month.
What is the price-to-rent ratio in Douglas County, Minnesota?
The price-to-rent ratio in Douglas County, Minnesota is about 15.0, meaning it would take roughly 15.0 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Douglas County.
Are home prices or rent rising faster in Douglas County, Minnesota?
Both home prices and rent are rising in Douglas County, up about 6.3% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Douglas County, Minnesota?
60.3% of households in Douglas County, Minnesota own their home, lower than the Minnesota average of 65.6%.
What is the vacancy rate in Douglas County, Minnesota?
The housing vacancy rate in Douglas County, Minnesota is 21.1%, higher than the Minnesota average of 9.4%.