Wadena County, Minnesota Housing Market
In Wadena County, Minnesota, the median home value is $173,000, with a median monthly rent of $746. This places Wadena County at #1741 nationally out of 3134 counties by median home value, and #65 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: $1,004
- Establishments: 398
- BLS QCEW, 2025
Housing Supply
- Single-family: 48
- Multi-family: 34
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 5,561 (avg $61,742)
- Outflow: 5,308 (avg $61,931)
- IRS Statistics of Income
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| Metric | Wadena County | Minnesota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $173,000 | $238,335 | $227,706 |
| Median Gross Rent | $746 | $938 | $968 |
| Owner Occupancy Rate | 73.6% | 77.9% | 73.3% |
| Price/Rent Ratio | 19.3 | 21.1 | 18.7 |
Market Analysis
The median home value in Wadena County is 27.4% below the Minnesota state average and 24.0% below the U.S. national average. The median rent of $746/month is 20.5% below the state average.
With a price-to-rent ratio of 19.3, the buy-vs-rent decision in Wadena County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Wadena County has an owner-occupancy rate of 73.6%, 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 |
|---|---|---|---|
| Madison County | Illinois | $173,000 | $1,024 |
| Howell County | Missouri | $173,000 | $733 |
| Bowie County | Texas | $173,000 | $988 |
| O'Brien County | Iowa | $173,100 | $868 |
| Camp County | Texas | $173,100 | $801 |
Other Counties in Minnesota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Freeborn County | $171,100 | $849 | 79.5% |
| Cottonwood County | $169,300 | $817 | 74.4% |
| Big Stone County | $169,100 | $745 | 79.7% |
| Marshall County | $164,500 | $690 | 83.0% |
| Lincoln County | $164,400 | $674 | 81.4% |
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).