Lake of the Woods County, Minnesota Housing Market
In Lake of the Woods County, Minnesota, the median home value is $216,100, with a median monthly rent of $955. This places Lake of the Woods County at #1241 nationally out of 3134 counties by median home value, and #52 within Minnesota.
📈 Price Trend (2017 → 2024)
ℹ️ FHFA HPI data is not available for this county due to limited mortgage transaction volume.
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,100
- Establishments: 162
- BLS QCEW, 2025
Housing Supply
- Single-family: 25
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 1,713 (avg $70,004)
- Outflow: 1,655 (avg $70,101)
- IRS Statistics of Income
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| Metric | Lake of the Woods County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $216,100 | $238,335 | $227,706 |
| Median Gross Rent | $955 | $938 | $968 |
| Owner Occupancy Rate | 81.8% | 77.9% | 73.3% |
| Price/Rent Ratio | 18.9 | 21.1 | 18.7 |
Market Analysis
The median home value in Lake of the Woods County is 9.3% below the Minnesota state average and 5.1% below the U.S. national average. The median rent of $955/month is 1.8% above the state average.
With a price-to-rent ratio of 18.9, the buy-vs-rent decision in Lake of the Woods County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Lake of the Woods County has an owner-occupancy rate of 81.8%, compared to 77.9% in Minnesota and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Steuben County | Indiana | $216,200 | $933 |
| Kosciusko County | Indiana | $216,000 | $1,043 |
| Southampton County | Virginia | $216,200 | $930 |
| Ellis County | Kansas | $216,300 | $943 |
| Kingfisher County | Oklahoma | $215,800 | $891 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Waseca County | $220,800 | $883 | 80.7% |
| Fillmore County | $221,100 | $797 | 82.6% |
| St. Louis County | $221,400 | $1,013 | 71.2% |
| Polk County | $222,800 | $855 | 71.3% |
| Rock County | $224,300 | $698 | 76.6% |
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).