Pipestone County, Minnesota Housing Market Prices
Pipestone 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 14% below the Minnesota median$203,125
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Median rent 41% below the Minnesota median Cheaper than 85% of counties in Minnesota$754
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Pipestone County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $203,125 | $236,718 | $248,835 |
| Price Trend (Annual %) | 202.3% | 6.6% | 7.5% |
| Median Gross Rent | $754 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pipestone County is about 14% lower than in Minnesota. Rent is about 41% 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 Pipestone County, up about 202.3% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Pipestone County rose about 38.3% between 2015 and 2024, from $545 to $754. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Pipestone County.
Buying the median-priced home in Pipestone County costs roughly 22.4 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 Pipestone County. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Pipestone County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $203,125 | $236,718 | $248,835 |
| Median Household Income | $70,296 | $89,852 | $80,455 |
| Price-to-Income Ratio | 2.9 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Pipestone County rose about 323.2%, while median household income rose about 66.4% 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 | Pipestone County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.2% | 65.5% | 58.5% |
| Rental Rate | 17.6% | 25.2% | 31.2% |
| Vacancy Rate | 8.2% | 9.3% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Pipestone County has a homeownership rate of 74.2%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 8.2%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Pipestone County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1956 | 1976 | 1978 |
| Median Number of Rooms | 6.2 | 6.1 | 5.5 |
The typical housing unit in Pipestone County was built around 1956. On average, 2.3 people live in a home with about 6.2 rooms, staying for about 15.0 years on average.
Pipestone County, MN Housing Compared With Nearby Counties
How Pipestone County, MN compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Pipestone County, MN | 9,284 | $203,125 #1/2 | $754 #2/2 | 80.8% #1/2 |
| Lyon County, MN | 25,503 | $101,293 | $780 | 74.7% |
Frequently Asked Questions
Common questions about the housing market in Pipestone County, Minnesota.
What is the median home price in Pipestone County, Minnesota?
The median home price in Pipestone County, Minnesota is $203,125, lower than the Minnesota average of $236,718.
What is the average home price in Pipestone County, Minnesota?
The typical home price in Pipestone County, Minnesota, reported as the median sale price, is $203,125. 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 Pipestone County, Minnesota?
The median gross rent in Pipestone County, Minnesota is $754 per month, lower than the Minnesota average of $1,280.
What was the median gross rent in Pipestone County in 2020?
In 2020, the median gross rent in Pipestone County, Minnesota was $588 per month.
What is the price-to-rent ratio in Pipestone County, Minnesota?
The price-to-rent ratio in Pipestone County, Minnesota is about 22.4, meaning it would take roughly 22.4 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 Pipestone County.
Are home prices or rent rising faster in Pipestone County, Minnesota?
Both home prices and rent are rising in Pipestone County, up about 202.3% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pipestone County, Minnesota?
74.2% of households in Pipestone County, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Pipestone County, Minnesota?
The housing vacancy rate in Pipestone County, Minnesota is 8.2%, lower than the Minnesota average of 9.3%.
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