Grant County, Minnesota Housing Market Prices
Grant 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 37% above the Minnesota median More expensive than 92% of counties in Minnesota$325,000
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Median rent 38% below the Minnesota median Cheaper than 74% of counties in Minnesota$796
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Grant County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $325,000 | $236,718 | $248,835 |
| Price Trend (Annual %) | 61.0% | 6.6% | 7.5% |
| Median Gross Rent | $796 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.2% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Grant County is about 37% higher than in Minnesota. Rent is about 38% 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 Grant County, up about 61.0% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Grant County rose about 55.5% between 2015 and 2024, from $512 to $796. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 4.4 yearly household incomes in Grant County.
Buying the median-priced home in Grant County costs roughly 34.0 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 Grant County. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Grant County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $325,000 | $236,718 | $248,835 |
| Median Household Income | $74,203 | $89,852 | $80,455 |
| Price-to-Income Ratio | 4.4 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Grant County rose about 446.7%, while median household income rose about 67.9% between 2009 and 2025 — 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 | Grant County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.8% | 65.5% | 58.5% |
| Rental Rate | 16.5% | 25.2% | 31.2% |
| Vacancy Rate | 20.6% | 9.3% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Grant County has a homeownership rate of 62.8%, lower than the Minnesota average of 65.5%. Its housing vacancy rate is 20.6%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Grant County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1970 | 1976 | 1978 |
| Median Number of Rooms | 6.4 | 6.1 | 5.5 |
The typical housing unit in Grant County was built around 1970. On average, 2.4 people live in a home with about 6.4 rooms, staying for about 17.0 years on average.
Grant County, MN Housing Compared With Nearby Counties
How Grant County, MN compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Grant County, MN | 6,127 | $325,000 #1/3 | $796 #3/3 | 79.2% #2/3 |
| Douglas County, MN | 39,575 | $111,250 | $927 | 76.5% |
| Otter Tail County, MN | 60,475 | $201,531 | $868 | 79.5% |
Frequently Asked Questions
Common questions about the housing market in Grant County, Minnesota.
What is the median home price in Grant County, Minnesota?
The median home price in Grant County, Minnesota is $325,000, higher than the Minnesota average of $236,718.
What is the average home price in Grant County, Minnesota?
The typical home price in Grant County, Minnesota, reported as the median sale price, is $325,000. 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 Grant County, Minnesota?
The median gross rent in Grant County, Minnesota is $796 per month, lower than the Minnesota average of $1,280.
What was the median gross rent in Grant County in 2020?
In 2020, the median gross rent in Grant County, Minnesota was $696 per month.
What is the price-to-rent ratio in Grant County, Minnesota?
The price-to-rent ratio in Grant County, Minnesota is about 34.0, meaning it would take roughly 34.0 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 Grant County.
Are home prices or rent rising faster in Grant County, Minnesota?
Both home prices and rent are rising in Grant County, up about 61.0% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Grant County, Minnesota?
62.8% of households in Grant County, Minnesota own their home, lower than the Minnesota average of 65.5%.
What is the vacancy rate in Grant County, Minnesota?
The housing vacancy rate in Grant County, Minnesota is 20.6%, higher than the Minnesota average of 9.3%.
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