Redwood County, Minnesota Housing Market Prices
Redwood 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 23% below the Minnesota median$182,500
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Median rent 41% below the Minnesota median Cheaper than 83% of counties in Minnesota$757
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Redwood County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $182,500 | $236,718 | $248,835 |
| Price Trend (Annual %) | 13.1% | 6.6% | 7.5% |
| Median Gross Rent | $757 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 3.0% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Redwood County is about 23% 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 Redwood County, up about 13.1% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Redwood County rose about 32.6% between 2015 and 2024, from $571 to $757. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Redwood County.
Buying the median-priced home in Redwood County costs roughly 20.1 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 Redwood County. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Redwood County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $182,500 | $236,718 | $248,835 |
| Median Household Income | $67,231 | $89,852 | $80,455 |
| Price-to-Income Ratio | 2.7 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Redwood County rose about 95.6%, while median household income rose about 44.6% 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 | Redwood County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.4% | 65.5% | 58.5% |
| Rental Rate | 19.1% | 25.2% | 31.2% |
| Vacancy Rate | 11.5% | 9.3% | 10.2% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Redwood County has a homeownership rate of 69.4%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 11.5%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Redwood County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1961 | 1976 | 1978 |
| Median Number of Rooms | 6.5 | 6.1 | 5.5 |
The typical housing unit in Redwood County was built around 1961. On average, 2.4 people live in a home with about 6.5 rooms, staying for about 19.0 years on average.
Redwood County, MN Housing Compared With Nearby Counties
Redwood County, MN is the 3rd largest of the 4 counties compared here, 13,610 residents against a local median of 25,503. The measure that sets Redwood County, MN apart most is median home price: $182,500, 18% above the local median of $155,061.
The counties themselves spread $270,134 on median home price, so Redwood County, MN sits at one end of an already wide local range rather than apart from it. Redwood County, MN has the 2nd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Redwood County, MN | 13,610 | $182,500 #2/4 | $757 #4/4 | 78.4% #2/4 |
| Cottonwood County, MN | 11,447 | $155,061 | $817 | 74.4% |
| Brown County, MN | 25,800 | $371,428 | $889 | 78.9% |
| Lyon County, MN | 25,503 | $101,293 | $780 | 74.7% |
Frequently Asked Questions
Common questions about the housing market in Redwood County, Minnesota.
What is the median home price in Redwood County, Minnesota?
The median home price in Redwood County, Minnesota is $182,500, lower than the Minnesota average of $236,718.
What is the average home price in Redwood County, Minnesota?
The typical home price in Redwood County, Minnesota, reported as the median sale price, is $182,500. 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 Redwood County, Minnesota?
The median gross rent in Redwood County, Minnesota is $757 per month, lower than the Minnesota average of $1,280.
What was the median gross rent in Redwood County in 2020?
In 2020, the median gross rent in Redwood County, Minnesota was $651 per month.
What is the price-to-rent ratio in Redwood County, Minnesota?
The price-to-rent ratio in Redwood County, Minnesota is about 20.1, meaning it would take roughly 20.1 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 Redwood County.
Are home prices or rent rising faster in Redwood County, Minnesota?
Both home prices and rent are rising in Redwood County, up about 13.1% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Redwood County, Minnesota?
69.4% of households in Redwood County, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Redwood County, Minnesota?
The housing vacancy rate in Redwood County, Minnesota is 11.5%, higher than the Minnesota average of 9.3%.
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