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Lake of the Woods County Housing Market

Minnesota · 87 counties · Ranked #2065 in home value

Below National Avg

Housing at a Glance

Median Home Value

$215,000

vs national$215,000 vs $281,900 national

Median Gross Rent

$867/mo

vs national$867 vs $1,163 national

Effective Tax Rate

0.71%

vs national0.71% vs 1.02% national

Median Household Income

$70,091

vs national$70,091 vs $74,755 national

Affordability Ratio

3.1x

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

31.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$1,520

Tax as % of Home Value

0.71%

Monthly Owner Cost

$839

Renter Income

$32,011

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Frequently Asked Questions

What is the median home value in Lake of the Woods County?

The median home value in Lake of the Woods County is $215,000. This is below the national median of $281,900.

How much is rent in Lake of the Woods County?

The median gross rent in Lake of the Woods County is $867 per month.

What is the property tax rate in Lake of the Woods County?

The effective property tax rate in Lake of the Woods County is 0.71%. The median annual property tax bill is $1,520.

Is Lake of the Woods County affordable?

With a home-value-to-income ratio of 3.1x, Lake of the Woods County is moderately affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.