Otter Tail County, Minnesota Housing Market
In Otter Tail County, Minnesota, the median home value is $273,000, with a median monthly rent of $868. This places Otter Tail County at #763 nationally out of 3134 counties by median home value, and #24 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: $1,023
- Establishments: 1,754
- BLS QCEW, 2025
Housing Supply
- Single-family: 60
- Multi-family: 12
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 26,013 (avg $77,233)
- Outflow: 24,937 (avg $76,834)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 3 active ZIP codes in Otter Tail County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 56573 | 273.4 | +5.33% | 2025 |
| 2 | 56537 | 240.0 | -0.40% | 2025 |
| 3 | 56482 | 228.8 | -0.76% | 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 Otter Tail County Compares
| Metric | Otter Tail County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $273,000 | $238,335 | $227,706 |
| Median Gross Rent | $868 | $938 | $968 |
| Owner Occupancy Rate | 79.5% | 77.9% | 73.3% |
| Price/Rent Ratio | 26.2 | 21.1 | 18.7 |
Market Analysis
The median home value in Otter Tail County is 14.5% above the Minnesota state average and 19.9% above the U.S. national average. The median rent of $868/month is 7.5% below the state average.
With a price-to-rent ratio of 26.2, Otter Tail 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.
Otter Tail County has an owner-occupancy rate of 79.5%, 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 |
|---|---|---|---|
| Natrona County | Wyoming | $273,000 | $1,016 |
| Boone County | Missouri | $272,800 | $1,088 |
| Franklin County | Florida | $273,300 | $1,049 |
| Adams County | Washington | $273,300 | $877 |
| Stearns County | Minnesota | $273,400 | $1,068 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Stearns County | $273,400 | $1,068 | 67.9% |
| Benton County | $271,000 | $982 | 66.7% |
| Nicollet County | $270,300 | $970 | 72.2% |
| Blue Earth County | $266,700 | $1,123 | 61.4% |
| Clay County | $265,500 | $1,019 | 65.9% |
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).