Pennington County, Minnesota Housing Market
In Pennington County, Minnesota, the median home value is $195,500, with a median monthly rent of $862. This places Pennington County at #1448 nationally out of 3134 counties by median home value, and #57 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: $1,120
- Establishments: 379
- BLS QCEW, 2025
Housing Supply
- Single-family: 1
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 6,025 (avg $74,299)
- Outflow: 5,656 (avg $76,064)
- IRS Statistics of Income
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💰 Mortgage Guide → 🧾 Property Tax Data →How Pennington County Compares
| Metric | Pennington County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $195,500 | $238,335 | $227,706 |
| Median Gross Rent | $862 | $938 | $968 |
| Owner Occupancy Rate | 72.2% | 77.9% | 73.3% |
| Price/Rent Ratio | 18.9 | 21.1 | 18.7 |
Market Analysis
The median home value in Pennington County is 18.0% below the Minnesota state average and 14.1% below the U.S. national average. The median rent of $862/month is 8.1% below the state average.
With a price-to-rent ratio of 18.9, the buy-vs-rent decision in Pennington County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Pennington County has an owner-occupancy rate of 72.2%, compared to 77.9% in Minnesota and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| LaPorte County | Indiana | $195,500 | $976 |
| Midland County | Michigan | $195,400 | $1,016 |
| Stanton County | Nebraska | $195,400 | $902 |
| Cuyahoga County | Ohio | $195,400 | $1,060 |
| Pottawattamie County | Iowa | $195,700 | $1,018 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Nobles County | $197,200 | $896 | 74.2% |
| Clearwater County | $192,100 | $742 | 80.1% |
| Brown County | $191,200 | $890 | 78.9% |
| Grant County | $191,000 | $797 | 79.2% |
| Lyon County | $200,700 | $781 | 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 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).