Steele County, Minnesota Housing Market
In Steele County, Minnesota, the median home value is $245,400, with a median monthly rent of $1,061. This places Steele County at #928 nationally out of 3134 counties by median home value, and #36 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: $1,212
- Establishments: 1,100
- BLS QCEW, 2025
Housing Supply
- Single-family: 32
- Multi-family: 22
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 16,327 (avg $77,581)
- Outflow: 15,644 (avg $78,717)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 1 active ZIP codes in Steele County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 55060 | 217.4 | +4.36% | 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 Steele County Compares
| Metric | Steele County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $245,400 | $238,335 | $227,706 |
| Median Gross Rent | $1,061 | $938 | $968 |
| Owner Occupancy Rate | 79.4% | 77.9% | 73.3% |
| Price/Rent Ratio | 19.3 | 21.1 | 18.7 |
Market Analysis
The median home value in Steele County is 3.0% above the Minnesota state average and 7.8% above the U.S. national average. The median rent of $1,061/month is 13.1% above the state average.
With a price-to-rent ratio of 19.3, the buy-vs-rent decision in Steele County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Steele 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 |
|---|---|---|---|
| Logan County | Colorado | $245,300 | $1,013 |
| Citrus County | Florida | $245,500 | $1,107 |
| Waynesboro city | Virginia | $245,500 | $1,020 |
| Glasscock County | Texas | $245,200 | $648 |
| Madison County | Iowa | $245,100 | $1,036 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Carlton County | $245,100 | $1,009 | 80.0% |
| McLeod County | $246,100 | $941 | 77.4% |
| Kandiyohi County | $243,200 | $909 | 72.5% |
| Morrison County | $248,500 | $788 | 80.6% |
| Meeker County | $249,000 | $904 | 79.3% |
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).