Norman County, Minnesota Housing Market
In Norman County, Minnesota, the median home value is $147,100, with a median monthly rent of $774. This places Norman County at #2281 nationally out of 3134 counties by median home value, and #83 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: $1,125
- Establishments: 234
- BLS QCEW, 2025
Housing Supply
- Single-family: 10
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 2,600 (avg $74,186)
- Outflow: 2,502 (avg $74,982)
- IRS Statistics of Income
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| Metric | Norman County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $147,100 | $238,335 | $227,706 |
| Median Gross Rent | $774 | $938 | $968 |
| Owner Occupancy Rate | 79.4% | 77.9% | 73.3% |
| Price/Rent Ratio | 15.8 | 21.1 | 18.7 |
Market Analysis
The median home value in Norman County is 38.3% below the Minnesota state average and 35.4% below the U.S. national average. The median rent of $774/month is 17.5% below the state average.
With a price-to-rent ratio of 15.8, the buy-vs-rent decision in Norman County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Norman County has an owner-occupancy rate of 79.4%, 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 |
|---|---|---|---|
| Burt County | Nebraska | $147,000 | $708 |
| Lawrence County | Pennsylvania | $147,200 | $831 |
| Sterling County | Texas | $147,000 | $952 |
| Bent County | Colorado | $146,900 | $1,162 |
| Lincoln County | Kentucky | $147,300 | $698 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Pipestone County | $140,200 | $754 | 80.8% |
| Yellow Medicine County | $154,700 | $678 | 84.0% |
| Chippewa County | $156,100 | $869 | 72.3% |
| Koochiching County | $156,600 | $671 | 80.4% |
| Jackson County | $157,100 | $787 | 80.1% |
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).