Red Lake County, Minnesota Housing Market
In Red Lake County, Minnesota, the median home value is $162,000, with a median monthly rent of $583. This places Red Lake County at #1973 nationally out of 3134 counties by median home value, and #74 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: $852
- Establishments: 107
- BLS QCEW, 2025
Migration Patterns
- Inflow: 1,622 (avg $69,553)
- Outflow: 1,599 (avg $69,732)
- IRS Statistics of Income
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| Metric | Red Lake County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $162,000 | $238,335 | $227,706 |
| Median Gross Rent | $583 | $938 | $968 |
| Owner Occupancy Rate | 83.4% | 77.9% | 73.3% |
| Price/Rent Ratio | 23.2 | 21.1 | 18.7 |
Market Analysis
The median home value in Red Lake County is 32.0% below the Minnesota state average and 28.9% below the U.S. national average. The median rent of $583/month is 37.8% below the state average.
With a price-to-rent ratio of 23.2, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Red Lake County has an owner-occupancy rate of 83.4%, 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 |
|---|---|---|---|
| Marion County | Missouri | $162,000 | $808 |
| LaSalle County | Illinois | $161,900 | $928 |
| Davis County | Iowa | $161,900 | $868 |
| Chippewa County | Michigan | $161,900 | $797 |
| Mahnomen County | Minnesota | $161,900 | $696 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Mahnomen County | $161,900 | $696 | 73.3% |
| Watonwan County | $162,400 | $834 | 77.8% |
| Swift County | $161,400 | $920 | 72.4% |
| Renville County | $163,200 | $790 | 80.2% |
| Martin County | $163,500 | $761 | 68.9% |
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).