Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$197,437+5.5% YoY · prices are rising fast
Market right nowBuyer's marketMore homes for sale than last year, 27% have cut their price
Income needed to buy, per year$42,800About 0.6× the local median income ($69,863): affordable for a typical household
Days on market60 daysAbout the same pace as a year ago
The typical home in Freeborn County, MN is worth $197,437, up 5.5% from a year ago. That is well above what local incomes have historically supported: fair value is about $168,457, so the area is 17.2% overvalued. It is a buyer's market: homes take about 60 days to sell, listings are up 25% from a year ago, 27% of listings have had a price cut. A household needs about $42,800 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $69,863. Typical rent is $1,054 a month. In the latest IRS figures, 12 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$197,437
Change in 1 year
+5.5%
Overvalued %
+17.2%
Show 6 more
Fair home value
$168,457
Change in 5 years
+28.0%
Home value to income
2.8×
Monthly mortgage payment (20% down)
$1,070
Income needed to afford it
$42,800
Property tax rate
1.11%
Rent and investing
Typical rent
$1,054
Price-to-rent ratio
15.6×
HUD Fair Market Rent, 2 bedrooms
$1,033
Show 2 more
Gross rental yield
6.40%
Cap rate (estimate)
4.16%
Market activity
Listings vs a year ago
+25.3%
Days on market
60
Listings with a price cut
26.7%
Show 3 more
Homes for sale
124
Pending sales per 100 listings
22
Asking price per sq ft
$131
People and jobs
Median household income
$69,863
Population change (1 year)
+0.0%
Unemployment rate
4.6%
Show 4 more
Population
30,440
Income adjusted for cost of living
$81,331
Net moves in (IRS)
−12
Cost of living (US = 100)
85.9
Schools, risk and environment
School rating (1 to 10)
4.5
FEMA hazard risk score (0 to 100)
51.0
Flood risk score
49.1
Show 3 more
Wildfire risk score
24.4
Walkability (1 to 20)
6.5
Road, rail and air noise
52 dB
Questions people ask
Is Freeborn County, MN overvalued?
Home prices in Freeborn County, MN are well above what local incomes have historically supported: fair value is about $168,457, so the area is 17.2% overvalued.
Is Freeborn County, MN a buyer's or seller's market?
Freeborn County, MN is a buyer's market: homes take about 60 days to sell, listings are up 25% from a year ago, 27% of listings have had a price cut.
Are home prices going down in Freeborn County, MN?
Home values in Freeborn County, MN are up 5.5% over the last year.
How much do you need to earn to buy a home in Freeborn County, MN?
A household needs about $42,800 a year to afford the typical home in Freeborn County, MN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $69,863.