Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Rock County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $97,499 | $243,729 | $242,182 |
| Price Trend (Annual %) | 75.2% | 7.9% | 8.2% |
| Median Gross Rent | $744 | $1,234 | $1,342 |
| Rent Trend (Annual %) | 1.9% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rock County is about 60% lower than in Minnesota. Rent is about 40% lower than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2021
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Rock County, up about 75.2% and 1.9% a year respectively. Home prices are changing faster.
Median rent in Rock County rose about 20.2% between 2015 and 2023, from $619 to $744. Over the same span, rent in Minnesota rose about 45.7%.
Affordability
On average, housing unit costs 1.3 yearly household incomes in Rock County.
Buying the median-priced home in Rock County costs roughly 10.9 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 Rock County. The price-to-rent ratio in Minnesota is about 16.5.
| Metric | Rock County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $97,499 | $243,729 | $242,182 |
| Median Household Income | $73,009 | $88,383 | $78,145 |
| Price-to-Income Ratio | 1.3 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2021, the median home price in Rock County rose about 430.6%, while median household income rose about 58.3% between 2009 and 2023 — 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 | Rock County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.9% | 65.6% | 58.2% |
| Rental Rate | 22.5% | 25.0% | 31.3% |
| Vacancy Rate | 6.6% | 9.4% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Rock County has a homeownership rate of 70.9%, higher than the Minnesota average of 65.6%. Its housing vacancy rate is 6.6%, compared with 9.4% in Minnesota.
Housing Stock
| Metric | Rock County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.37 people | 2.44 people | 2.54 people |
| Median Structure Built Year | 1961 | 1976 | 1978 |
| Median Number of Rooms | 6.8 | 6.1 | 5.5 |
The typical housing unit in Rock County was built around 1961. On average, 2.4 people live in a home with about 6.8 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Rock County, Minnesota.
What is the median home price in Rock County, Minnesota?
The median home price in Rock County, Minnesota is $97,499, lower than the Minnesota average of $243,729.
What is the average home price in Rock County, Minnesota?
The typical home price in %s, reported as the median sale price, is %s. 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 Rock County, Minnesota?
The median gross rent in Rock County, Minnesota is $744 per month, lower than the Minnesota average of $1,234.
What was the median gross rent in Rock County in 2020?
In 2020, the median gross rent in Rock County, Minnesota was $690 per month.
What is the price-to-rent ratio in Rock County, Minnesota?
The price-to-rent ratio in Rock County, Minnesota is about 10.9, meaning it would take roughly 10.9 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 Rock County.
Are home prices or rent rising faster in Rock County, Minnesota?
Both home prices and rent are rising in Rock County, up about 75.2% and 1.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Rock County, Minnesota?
70.9% of households in Rock County, Minnesota own their home, higher than the Minnesota average of 65.6%.
What is the vacancy rate in Rock County, Minnesota?
The housing vacancy rate in Rock County, Minnesota is 6.6%, lower than the Minnesota average of 9.4%.