Mille Lacs County, Minnesota Housing Market
In Mille Lacs County, Minnesota, the median home value is $258,300, with a median monthly rent of $903. This places Mille Lacs County at #848 nationally out of 3134 counties by median home value, and #30 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: $882
- Establishments: 740
- BLS QCEW, 2025
Housing Supply
- Single-family: 91
- Multi-family: 12
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 10,998 (avg $67,315)
- Outflow: 10,488 (avg $67,144)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 1 active ZIP codes in Mille Lacs County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 56359 | 285.3 | +17.60% | 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 Mille Lacs County Compares
| Metric | Mille Lacs County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $258,300 | $238,335 | $227,706 |
| Median Gross Rent | $903 | $938 | $968 |
| Owner Occupancy Rate | 77.9% | 77.9% | 73.3% |
| Price/Rent Ratio | 23.8 | 21.1 | 18.7 |
Market Analysis
The median home value in Mille Lacs County is 8.4% above the Minnesota state average and 13.4% above the U.S. national average. The median rent of $903/month is 3.7% below the state average.
With a price-to-rent ratio of 23.8, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Mille Lacs County has an owner-occupancy rate of 77.9%, 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 |
|---|---|---|---|
| Wakulla County | Florida | $258,300 | $1,108 |
| Phillips County | Colorado | $258,200 | $999 |
| Rensselaer County | New York | $258,400 | $1,217 |
| Butler County | Ohio | $258,500 | $1,135 |
| Warren County | Kentucky | $258,000 | $1,002 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Aitkin County | $255,800 | $869 | 85.3% |
| Pope County | $255,100 | $902 | 83.5% |
| Wabasha County | $264,400 | $830 | 83.3% |
| Clay County | $265,500 | $1,019 | 65.9% |
| Blue Earth County | $266,700 | $1,123 | 61.4% |
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).