Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$181,155+5.8% YoY · prices are rising fast
Market right nowSeller's marketFewer homes for sale than last year, 12% have cut their price
Income needed to buy, per year$39,271About 0.5× the local median income ($71,780): affordable for a typical household
Days on market81 daysFaster than a year ago: sellers have the edge
The typical home in Norman County, MN is worth $181,155, up 5.8% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $180,787, so the area is 0.2% overvalued. It is a seller's market: homes take about 81 days to sell, listings are down 10% from a year ago, 12% of listings have had a price cut. A household needs about $39,271 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 $71,780. In the latest IRS figures, 6 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
$181,155
Change in 1 year
+5.8%
Overvalued %
+0.2%
Show 6 more
Fair home value
$180,787
Change in 5 years
+25.2%
Home value to income
2.5×
Monthly mortgage payment (20% down)
$982
Income needed to afford it
$39,271
Property tax rate
0.94%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,014
Market activity
Listings vs a year ago
−10.0%
Days on market
81
Listings with a price cut
12.1%
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Homes for sale
27
Pending sales per 100 listings
30
Asking price per sq ft
$123
People and jobs
Median household income
$71,780
Population change (1 year)
+0.6%
Unemployment rate
5.2%
Show 4 more
Population
6,336
Income adjusted for cost of living
$83,562
Net moves in (IRS)
−6
Cost of living (US = 100)
85.9
Schools, risk and environment
School rating (1 to 10)
7.5
FEMA hazard risk score (0 to 100)
14.4
Flood risk score
17.6
Show 3 more
Wildfire risk score
47.0
Walkability (1 to 20)
6.1
Road, rail and air noise
52 dB
Questions people ask
Is Norman County, MN overvalued?
Home prices in Norman County, MN are slightly above what local incomes have historically supported: fair value is about $180,787, so the area is 0.2% overvalued.
Is Norman County, MN a buyer's or seller's market?
Norman County, MN is a seller's market: homes take about 81 days to sell, listings are down 10% from a year ago, 12% of listings have had a price cut.
Are home prices going down in Norman County, MN?
Home values in Norman County, MN are up 5.8% over the last year.
How much do you need to earn to buy a home in Norman County, MN?
A household needs about $39,271 a year to afford the typical home in Norman County, MN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $71,780.