Lac qui Parle County, Minnesota Housing Market Prices
Lac qui Parle 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 96% below the Minnesota median Cheapest county in Minnesota$9,999
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Median rent 43% below the Minnesota median Cheaper than 90% of counties in Minnesota$727
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lac qui Parle County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $9,999 | $236,718 | $248,835 |
| Price Trend (Annual %) | 8.1% | 6.6% | 7.5% |
| Median Gross Rent | $727 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lac qui Parle County is about 96% lower than in Minnesota. Rent is about 43% 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 Lac qui Parle County, up about 8.1% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Lac qui Parle County rose about 31.2% between 2015 and 2024, from $554 to $727. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 0.1 yearly household incomes in Lac qui Parle County.
Buying the median-priced home in Lac qui Parle County costs roughly 1.1 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 Lac qui Parle County. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Lac qui Parle County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $9,999 | $236,718 | $248,835 |
| Median Household Income | $74,450 | $89,852 | $80,455 |
| Price-to-Income Ratio | 0.1 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lac qui Parle County fell about 79.6%, while median household income rose about 52.9% 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 | Lac qui Parle County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.6% | 65.5% | 58.5% |
| Rental Rate | 14.7% | 25.2% | 31.2% |
| Vacancy Rate | 15.7% | 9.3% | 10.2% |
| Median Tenure (years) | 21.0 | 15.0 | 15.0 |
| Median Year Moved In | 2005 | 2011 | 2011 |
Lac qui Parle County has a homeownership rate of 69.6%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 15.7%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Lac qui Parle County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.23 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1952 | 1976 | 1978 |
| Median Number of Rooms | 6.7 | 6.1 | 5.5 |
The typical housing unit in Lac qui Parle County was built around 1952. On average, 2.2 people live in a home with about 6.7 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lac qui Parle County, Minnesota.
What is the median home price in Lac qui Parle County, Minnesota?
The median home price in Lac qui Parle County, Minnesota is $9,999, lower than the Minnesota average of $236,718.
What is the average home price in Lac qui Parle County, Minnesota?
The typical home price in Lac qui Parle County, Minnesota, reported as the median sale price, is $9,999. 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 Lac qui Parle County, Minnesota?
The median gross rent in Lac qui Parle County, Minnesota is $727 per month, lower than the Minnesota average of $1,280.
What was the median gross rent in Lac qui Parle County in 2020?
In 2020, the median gross rent in Lac qui Parle County, Minnesota was $543 per month.
What is the price-to-rent ratio in Lac qui Parle County, Minnesota?
The price-to-rent ratio in Lac qui Parle County, Minnesota is about 1.1, meaning it would take roughly 1.1 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 Lac qui Parle County.
Are home prices or rent rising faster in Lac qui Parle County, Minnesota?
Both home prices and rent are rising in Lac qui Parle County, up about 8.1% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lac qui Parle County, Minnesota?
69.6% of households in Lac qui Parle County, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Lac qui Parle County, Minnesota?
The housing vacancy rate in Lac qui Parle County, Minnesota is 15.7%, higher than the Minnesota average of 9.3%.
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