Freeborn County, Minnesota Housing Market Prices
Freeborn County 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 43% below the Minnesota median Cheaper than 73% of counties in Minnesota$135,869
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Median rent 34% below the Minnesota median$848
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Freeborn County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $135,869 | $236,718 | $248,835 |
| Price Trend (Annual %) | 6.4% | 6.6% | 7.5% |
| Median Gross Rent | $848 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 4.1% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Freeborn County is about 43% lower than in Minnesota. Rent is about 34% lower than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Freeborn County, up about 6.4% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Freeborn County rose about 42.0% between 2015 and 2024, from $597 to $848. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Freeborn County.
Buying the median-priced home in Freeborn County costs roughly 13.3 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 Freeborn County. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Freeborn County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $135,869 | $236,718 | $248,835 |
| Median Household Income | $70,120 | $89,852 | $80,455 |
| Price-to-Income Ratio | 1.9 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Freeborn County rose about 29.0%, while median household income rose about 49.1% 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 | Freeborn County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.4% | 65.5% | 58.5% |
| Rental Rate | 18.7% | 25.2% | 31.2% |
| Vacancy Rate | 9.0% | 9.3% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Freeborn County has a homeownership rate of 72.4%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 9.0%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Freeborn County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.34 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1960 | 1976 | 1978 |
| Median Number of Rooms | 6.1 | 6.1 | 5.5 |
The typical housing unit in Freeborn County was built around 1960. On average, 2.3 people live in a home with about 6.1 rooms, staying for about 17.0 years on average.
Freeborn County, MN Housing Compared With Nearby Counties
How Freeborn County, MN compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Freeborn County, MN | 30,623 | $135,869 #2/3 | $848 #3/3 | 79.5% #1/3 |
| Steele County, MN | 37,436 | $204,296 | $1,061 | 79.4% |
| Mower County, MN | 40,341 | $103,820 | $926 | 77.6% |
Frequently Asked Questions
Common questions about the housing market in Freeborn County, Minnesota.
What is the median home price in Freeborn County, Minnesota?
The median home price in Freeborn County, Minnesota is $135,869, lower than the Minnesota average of $236,718.
What is the average home price in Freeborn County, Minnesota?
The typical home price in Freeborn County, Minnesota, reported as the median sale price, is $135,869. 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 Freeborn County, Minnesota?
The median gross rent in Freeborn County, Minnesota is $848 per month, lower than the Minnesota average of $1,280.
What was the median gross rent in Freeborn County in 2020?
In 2020, the median gross rent in Freeborn County, Minnesota was $722 per month.
What is the price-to-rent ratio in Freeborn County, Minnesota?
The price-to-rent ratio in Freeborn County, Minnesota is about 13.3, meaning it would take roughly 13.3 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 Freeborn County.
Are home prices or rent rising faster in Freeborn County, Minnesota?
Both home prices and rent are rising in Freeborn County, up about 6.4% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Freeborn County, Minnesota?
72.4% of households in Freeborn County, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Freeborn County, Minnesota?
The housing vacancy rate in Freeborn County, Minnesota is 9.0%, lower than the Minnesota average of 9.3%.
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