Housing decision brief
Lake of the Woods County, MN Housing Market
Lake of the Woods County screens as a below-state purchase price, below-state rent, a manageable tax-rate signal market. Use the page as a decision brief, not just a price lookup, because local income, taxes, and data confidence change how affordable the county really is.
42nd lowest home value out of 87 Minnesota counties with data | 43rd lowest rent out of 87
Median home value
$215,000
Purchase-price signal from Census ACS.
Median rent
$867/mo
Gross rent, including utilities where reported.
Monthly owner cost
$839/mo
Owner costs before individual loan terms.
Decision snapshot
Read this county in four signals.
Buy screen
3.1x
Median home value divided by local household income.
Rent burden
31.0%
At or above the 30% burden threshold.
Rent vs own
$28/mo
Median owner cost screens below median rent.
Data confidence
1 note
Crime coverage is partial, so safety comparisons need source context.
What Works
Lower purchase price
$215,000 median home value is 3% below Minnesota county median
Lower rent
$867/mo is 1% below Minnesota county median
Owning screens cheaper than renting
Median owner costs are $28/mo below median rent before individual mortgage terms.
Low disaster-risk signal
Risk score is 96.5 out of 100, a stronger cross-check for long-term ownership costs.
What to Check
Lower income base
$70,091 median income is 2% below Minnesota county median
Crime data coverage
Crime data coverage is partial. Treat zero or low crime rates as incomplete until you check the source coverage.
Best Fit For
- Households weighing ownership against renting
- Long-term owners who care about disaster-risk exposure
- Remote earners or cash buyers looking below the state price line
Poor Fit For
- Households dependent on a deep local wage market
- Anyone treating reported crime rates as complete without source context
County vs State vs National
The county number only matters after you see the benchmark. These comparisons show where Lake of the Woods County is genuinely cheap, where it is average, and where the hidden cost may be.
| Metric | County | State | U.S. | Signal |
|---|---|---|---|---|
Median home value Lower usually helps affordability. | $215,000 | $221,100 | $281,900 | Near state median3% below Minnesota county median |
Median gross rent Lower usually helps affordability. | $867 | $873 | $1,163 | Near state median1% below Minnesota county median |
Monthly owner cost Lower usually helps affordability. | $839 | $1,034 | $1,672 | 19% favorable19% below Minnesota county median |
Median household income | $70,091 | $71,573 | $74,755 | Near state median2% below Minnesota county median |
Effective property-tax rate Lower usually helps affordability. | 0.71% | 0.99% | 1.02% | 29% favorable29% below Minnesota county median |
Rent burden Lower usually helps affordability. | 31.00% | 26.00% | N/A | 19% pressure31.00% of renter income goes to rent. |
Income Fit
A low price only helps if local income can carry the monthly cost. This panel compares the county income base with rent and owner-cost thresholds.
Rent cushion
+$35,411
Median income minus rent threshold.
Owner cushion
+$34,134
Median income minus owner-cost threshold.
Affordability Advisory
This turns the raw housing numbers into income and buy-versus-rent screens.
Affordability verdict
Housing in Lake of the Woods County is affordable. The median rent is $867/month against a median household income of $70,091, putting rent at 14.8% of income.
Rent vs own
At $867/month rent versus $839/month in owner costs, owning is roughly $28/month cheaper , a 3% difference.
Income needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $34,680/year. For owner costs at the 28% rule, the required income is roughly $35,957/year. With a median household income of $70,091, most households can comfortably afford rent here. Notably, 31.0% of renter households in Lake of the Woods County are cost-burdened, spending more than 30% of income on housing.
Regional context
Lake of the Woods County sits 6% less expensive than Hubbard County ($923/month) in terms of median gross rent.
Better Counties to Compare
Similar counties are matched on home value, rent, income, and state context. This is more useful than a simple nearest-price list.
| County | Home Value | Rent | Why compare |
|---|---|---|---|
| Winona County, MN | $222,900 | $866/mo | Same-state comparison near $222,900 home value and $866/mo rent. |
| Polk County, MN | $211,100 | $843/mo | Same-state comparison near $211,100 home value and $843/mo rent. |
| Pine County, MN | $225,600 | $873/mo | Same-state comparison near $225,600 home value and $873/mo rent. |
| Sibley County, MN | $215,000 | $858/mo | Same-state comparison near $215,000 home value and $858/mo rent. |
| Waseca County, MN | $213,200 | $819/mo | Same-state comparison near $213,200 home value and $819/mo rent. |
Data Confidence
- Crime coverage is partial, so safety comparisons need source context.
Next Checks
Housing Questions for Lake of the Woods County
Is Lake of the Woods County affordable for buying a home?
Is renting or owning cheaper in Lake of the Woods County?
How much income do you need for housing in Lake of the Woods County?
What should I double-check before moving to Lake of the Woods County?
Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.