Nobles County, Minnesota Housing Market Prices
Nobles 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 9% below the Minnesota median$215,001
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Median rent 30% below the Minnesota median$895
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Nobles County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,001 | $236,718 | $248,835 |
| Price Trend (Annual %) | 12.3% | 6.6% | 7.5% |
| Median Gross Rent | $895 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Nobles County is about 9% lower than in Minnesota. Rent is about 30% 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 Nobles County, up about 12.3% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Nobles County rose about 42.7% between 2015 and 2024, from $627 to $895. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Nobles County.
Buying the median-priced home in Nobles County costs roughly 20.0 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 Nobles County. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Nobles County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,001 | $236,718 | $248,835 |
| Median Household Income | $67,652 | $89,852 | $80,455 |
| Price-to-Income Ratio | 3.2 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Nobles County rose about 129.9%, while median household income rose about 52.7% 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 | Nobles County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.8% | 65.5% | 58.5% |
| Rental Rate | 23.6% | 25.2% | 31.2% |
| Vacancy Rate | 8.6% | 9.3% | 10.2% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Nobles County has a homeownership rate of 67.8%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 8.6%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Nobles County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.80 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1967 | 1976 | 1978 |
| Median Number of Rooms | 6.1 | 6.1 | 5.5 |
The typical housing unit in Nobles County was built around 1967. On average, 2.8 people live in a home with about 6.1 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Nobles County, Minnesota.
What is the median home price in Nobles County, Minnesota?
The median home price in Nobles County, Minnesota is $215,001, lower than the Minnesota average of $236,718.
What is the average home price in Nobles County, Minnesota?
The typical home price in Nobles County, Minnesota, reported as the median sale price, is $215,001. 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 Nobles County, Minnesota?
The median gross rent in Nobles County, Minnesota is $895 per month, lower than the Minnesota average of $1,280.
What was the median gross rent in Nobles County in 2020?
In 2020, the median gross rent in Nobles County, Minnesota was $755 per month.
What is the price-to-rent ratio in Nobles County, Minnesota?
The price-to-rent ratio in Nobles County, Minnesota is about 20.0, meaning it would take roughly 20.0 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 Nobles County.
Are home prices or rent rising faster in Nobles County, Minnesota?
Both home prices and rent are rising in Nobles County, up about 12.3% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Nobles County, Minnesota?
67.8% of households in Nobles County, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Nobles County, Minnesota?
The housing vacancy rate in Nobles County, Minnesota is 8.6%, lower than the Minnesota average of 9.3%.
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