Clay County, Minnesota Housing Market
In Clay County, Minnesota, the median home value is $265,500, with a median monthly rent of $1,019. This places Clay County at #809 nationally out of 3134 counties by median home value, and #28 within Minnesota.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,035
- Establishments: 1,396
- BLS QCEW, 2025
Housing Supply
- Single-family: 153
- Multi-family: 191
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 25,147 (avg $76,314)
- Outflow: 24,161 (avg $77,647)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 4 active ZIP codes in Clay County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 56514 | 257.1 | +11.63% | 2025 |
| 2 | 56549 | 303.2 | -1.67% | 2025 |
| 3 | 56529 | 263.5 | +5.12% | 2025 |
| 4 | 56560 | 263.5 | +4.04% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Clay County Compares
| Metric | Clay County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $265,500 | $238,335 | $227,706 |
| Median Gross Rent | $1,019 | $938 | $968 |
| Owner Occupancy Rate | 65.9% | 77.9% | 73.3% |
| Price/Rent Ratio | 21.7 | 21.1 | 18.7 |
Market Analysis
The median home value in Clay County is 11.4% above the Minnesota state average and 16.6% above the U.S. national average. The median rent of $1,019/month is 8.6% above the state average.
With a price-to-rent ratio of 21.7, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Clay County has an owner-occupancy rate of 65.9%, compared to 77.9% in Minnesota and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Kenosha County | Wisconsin | $265,500 | $1,219 |
| Aransas County | Texas | $265,400 | $1,128 |
| Lassen County | California | $265,300 | $1,000 |
| Cascade County | Montana | $265,300 | $939 |
| Avery County | North Carolina | $265,800 | $773 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Wabasha County | $264,400 | $830 | 83.3% |
| Blue Earth County | $266,700 | $1,123 | 61.4% |
| Nicollet County | $270,300 | $970 | 72.2% |
| Benton County | $271,000 | $982 | 66.7% |
| Mille Lacs County | $258,300 | $903 | 77.9% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).