Wadena County, Minnesota Housing Market Prices
Wadena 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 30% below the Minnesota median$165,278
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Median rent 42% below the Minnesota median Cheaper than 86% of counties in Minnesota$745
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Wadena County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $165,278 | $236,718 | $248,835 |
| Price Trend (Annual %) | -0.9% | 6.6% | 7.5% |
| Median Gross Rent | $745 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 2.8% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wadena County is about 30% lower than in Minnesota. Rent is about 42% lower than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Wadena County: home prices fell about 0.9% a year while rent rose about 2.8% a year. That is an unusual pattern worth watching.
Median rent in Wadena County rose about 31.0% between 2015 and 2024, from $569 to $745. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Wadena County.
Buying the median-priced home in Wadena County costs roughly 18.5 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Wadena County. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Wadena County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $165,278 | $236,718 | $248,835 |
| Median Household Income | $61,396 | $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 Wadena County rose about 4.0%, while median household income rose about 64.1% 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 | Wadena County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.7% | 65.5% | 58.5% |
| Rental Rate | 22.9% | 25.2% | 31.2% |
| Vacancy Rate | 13.4% | 9.3% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Wadena County has a homeownership rate of 63.7%, lower than the Minnesota average of 65.5%. Its housing vacancy rate is 13.4%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Wadena County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1974 | 1976 | 1978 |
| Median Number of Rooms | 5.9 | 6.1 | 5.5 |
The typical housing unit in Wadena County was built around 1974. On average, 2.3 people live in a home with about 5.9 rooms, staying for about 16.0 years on average.
Wadena County, MN Housing Compared With Nearby Counties
How Wadena County, MN compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Wadena County, MN | 14,256 | $165,278 #2/2 | $745 #2/2 | 73.6% #2/2 |
| Otter Tail County, MN | 60,475 | $201,531 | $868 | 79.5% |
Frequently Asked Questions
Common questions about the housing market in Wadena County, Minnesota.
What is the median home price in Wadena County, Minnesota?
The median home price in Wadena County, Minnesota is $165,278, lower than the Minnesota average of $236,718.
What is the average home price in Wadena County, Minnesota?
The typical home price in Wadena County, Minnesota, reported as the median sale price, is $165,278. 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 Wadena County, Minnesota?
The median gross rent in Wadena County, Minnesota is $745 per month, lower than the Minnesota average of $1,280.
What was the median gross rent in Wadena County in 2020?
In 2020, the median gross rent in Wadena County, Minnesota was $657 per month.
What is the price-to-rent ratio in Wadena County, Minnesota?
The price-to-rent ratio in Wadena County, Minnesota is about 18.5, meaning it would take roughly 18.5 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Wadena County.
Are home prices or rent rising faster in Wadena County, Minnesota?
Home prices and rent are moving in opposite directions in Wadena County: home prices fell about 0.9% a year while rent rose about 2.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Wadena County, Minnesota?
63.7% of households in Wadena County, Minnesota own their home, lower than the Minnesota average of 65.5%.
What is the vacancy rate in Wadena County, Minnesota?
The housing vacancy rate in Wadena County, Minnesota is 13.4%, higher than the Minnesota average of 9.3%.
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