Nobles County, Minnesota Housing Market
In Nobles County, Minnesota, the median home value is $197,200, with a median monthly rent of $896. This places Nobles County at #1431 nationally out of 3134 counties by median home value, and #56 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: $1,148
- Establishments: 586
- BLS QCEW, 2025
Housing Supply
- Single-family: 10
- Multi-family: 84
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 8,592 (avg $71,925)
- Outflow: 8,310 (avg $72,893)
- IRS Statistics of Income
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| Metric | Nobles County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $197,200 | $238,335 | $227,706 |
| Median Gross Rent | $896 | $938 | $968 |
| Owner Occupancy Rate | 74.2% | 77.9% | 73.3% |
| Price/Rent Ratio | 18.3 | 21.1 | 18.7 |
Market Analysis
The median home value in Nobles County is 17.3% below the Minnesota state average and 13.4% below the U.S. national average. The median rent of $896/month is 4.5% below the state average.
With a price-to-rent ratio of 18.3, the buy-vs-rent decision in Nobles County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Nobles County has an owner-occupancy rate of 74.2%, 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 |
|---|---|---|---|
| Daviess County | Indiana | $197,200 | $847 |
| Walker County | Georgia | $197,100 | $940 |
| Randolph County | North Carolina | $197,100 | $887 |
| Sullivan County | Pennsylvania | $197,100 | $775 |
| Taylor County | Wisconsin | $197,100 | $823 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Pennington County | $195,500 | $862 | 72.2% |
| Lyon County | $200,700 | $781 | 72.5% |
| Clearwater County | $192,100 | $742 | 80.1% |
| Stevens County | $202,800 | $951 | 63.4% |
| Brown County | $191,200 | $890 | 78.9% |
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).