Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$191,990−2.4% YoY · prices are falling
Market right nowBalanced, leaning buyersMore homes for sale than last year, 19% have cut their price
Income needed to buy, per year$41,619About 0.6× the local median income ($72,712): affordable for a typical household
Days on market77 daysSlower than a year ago: buyers have time to negotiate
The typical home in Pennington County, MN is worth $191,990, down 2.4% from a year ago. That is well below what local incomes have historically supported: fair value is about $253,357, so the area is 24.2% undervalued. It is a balanced market, leaning toward buyers: homes take about 77 days to sell, listings are up 10% from a year ago, 19% of listings have had a price cut. A household needs about $41,619 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 $72,712. In the latest IRS figures, 102 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
$191,990
Change in 1 year
−2.4%
Overvalued %
−24.2%
Show 6 more
Fair home value
$253,357
Change in 5 years
−5.3%
Home value to income
2.6×
Monthly mortgage payment (20% down)
$1,040
Income needed to afford it
$41,619
Property tax rate
1.26%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,142
Market activity
Listings vs a year ago
+9.6%
Days on market
77
Listings with a price cut
18.8%
Show 3 more
Homes for sale
57
Pending sales per 100 listings
26
Asking price per sq ft
$119
People and jobs
Median household income
$72,712
Population change (1 year)
−0.5%
Unemployment rate
2.9%
Show 4 more
Population
13,686
Income adjusted for cost of living
$84,647
Net moves in (IRS)
−102
Cost of living (US = 100)
85.9
Schools, risk and environment
School rating (1 to 10)
5.3
FEMA hazard risk score (0 to 100)
47.0
Flood risk score
67.8
Show 3 more
Wildfire risk score
82.3
Walkability (1 to 20)
6.5
Road, rail and air noise
50 dB
Questions people ask
Is Pennington County, MN overvalued?
Home prices in Pennington County, MN are well below what local incomes have historically supported: fair value is about $253,357, so the area is 24.2% undervalued.
Is Pennington County, MN a buyer's or seller's market?
Pennington County, MN is a balanced market, leaning toward buyers: homes take about 77 days to sell, listings are up 10% from a year ago, 19% of listings have had a price cut.
Are home prices going down in Pennington County, MN?
Home values in Pennington County, MN are down 2.4% over the last year.
How much do you need to earn to buy a home in Pennington County, MN?
A household needs about $41,619 a year to afford the typical home in Pennington County, MN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $72,712.