Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$349,397+3.5% YoY · prices are rising fast
Market right nowBuyer's marketMore homes for sale than last year, 21% have cut their price
Income needed to buy, per year$75,742About 0.8× the local median income ($94,129): affordable for a typical household
Days on market64 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+2.8%Zillow expects prices to rise slightly
The typical home in Olmsted County, MN is worth $349,397, up 3.5% from a year ago. That is well above what local incomes have historically supported: fair value is about $298,918, so the area is 16.9% overvalued. It is a buyer's market: homes take about 64 days to sell, listings are up 55% from a year ago, 21% of listings have had a price cut. Zillow expects prices to rise about 2.8% over the next year. A household needs about $75,742 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 $94,129. Typical rent is $1,603 a month, or $2,001 for a house. In the latest IRS figures, 733 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
$349,397
Change in 1 year
+3.5%
Overvalued %
+16.9%
Show 7 more
Fair home value
$298,918
Change in 5 years
+18.4%
Zillow forecast, next 12 months
+2.8%
Home value to income
3.7×
Monthly mortgage payment (20% down)
$1,894
Income needed to afford it
$75,742
Property tax rate
1.06%
Rent and investing
Typical rent
$1,603
Typical rent for houses
$2,001
Price-to-rent ratio
18.2×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,422
Gross rental yield
5.51%
Cap rate (estimate)
3.58%
Market activity
Listings vs a year ago
+55.4%
Days on market
64
Listings with a price cut
21.1%
Show 3 more
Homes for sale
651
Pending sales per 100 listings
27
Asking price per sq ft
$194
People and jobs
Median household income
$94,129
Population change (1 year)
+0.6%
Unemployment rate
3.6%
Show 4 more
Population
166,731
Income adjusted for cost of living
$103,666
Net moves in (IRS)
−733
Cost of living (US = 100)
90.8
Schools, risk and environment
School rating (1 to 10)
6.4
FEMA hazard risk score (0 to 100)
82.3
Unhealthy air days a year
8
Show 4 more
Flood risk score
86.9
Wildfire risk score
20.5
Walkability (1 to 20)
7.6
Road, rail and air noise
54 dB
Questions people ask
Is Olmsted County, MN overvalued?
Home prices in Olmsted County, MN are well above what local incomes have historically supported: fair value is about $298,918, so the area is 16.9% overvalued.
Is Olmsted County, MN a buyer's or seller's market?
Olmsted County, MN is a buyer's market: homes take about 64 days to sell, listings are up 55% from a year ago, 21% of listings have had a price cut.
Are home prices going down in Olmsted County, MN?
Home values in Olmsted County, MN are up 3.5% over the last year. Zillow's forecast for the next 12 months is +2.8%.
How much do you need to earn to buy a home in Olmsted County, MN?
A household needs about $75,742 a year to afford the typical home in Olmsted County, MN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $94,129.