Morrison County, Minnesota Housing Market
In Morrison County, Minnesota, the median home value is $248,500, with a median monthly rent of $788. This places Morrison County at #904 nationally out of 3134 counties by median home value, and #34 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: $903
- Establishments: 1,038
- BLS QCEW, 2025
Housing Supply
- Single-family: 148
- Multi-family: 8
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 14,344 (avg $69,905)
- Outflow: 13,843 (avg $70,026)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 5 active ZIP codes in Morrison County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 56307 | 256.5 | -7.45% | 2025 |
| 2 | 56443 | 237.8 | — | 2025 |
| 3 | 56347 | 261.4 | +3.77% | 2025 |
| 4 | 56340 | 233.7 | +5.84% | 2025 |
| 5 | 56345 | 236.5 | +1.74% | 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.
How Morrison County Compares
| Metric | Morrison County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $248,500 | $238,335 | $227,706 |
| Median Gross Rent | $788 | $938 | $968 |
| Owner Occupancy Rate | 80.6% | 77.9% | 73.3% |
| Price/Rent Ratio | 26.3 | 21.1 | 18.7 |
Market Analysis
The median home value in Morrison County is 4.3% above the Minnesota state average and 9.1% above the U.S. national average. The median rent of $788/month is 16.0% below the state average.
With a price-to-rent ratio of 26.3, Morrison County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Morrison County has an owner-occupancy rate of 80.6%, 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 |
|---|---|---|---|
| Jefferson County | Kentucky | $248,400 | $1,149 |
| York County | Pennsylvania | $248,600 | $1,193 |
| Grayson County | Texas | $248,400 | $1,310 |
| Tuscaloosa County | Alabama | $248,700 | $1,037 |
| East Baton Rouge Parish | Louisiana | $248,800 | $1,147 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Meeker County | $249,000 | $904 | 79.3% |
| McLeod County | $246,100 | $941 | 77.4% |
| Steele County | $245,400 | $1,061 | 79.4% |
| Carlton County | $245,100 | $1,009 | 80.0% |
| Kandiyohi County | $243,200 | $909 | 72.5% |
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 2026-10-13. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).