Housing decision brief
Steele County, MN Housing Market
Steele County screens as a higher purchase price, rent that needs comparison, a higher 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.
54th lowest home value out of 87 Minnesota counties with data | 70th lowest rent out of 87
Median home value
$234,200
Purchase-price signal from Census ACS.
Median rent
$1,006/mo
Gross rent, including utilities where reported.
Monthly owner cost
$1,258/mo
Owner costs before individual loan terms.
Decision snapshot
Read this county in four signals.
Buy screen
2.8x
Median home value divided by local household income.
Rent burden
33.0%
At or above the 30% burden threshold.
Rent vs own
$252/mo
Median rent screens below owner cost.
Data confidence
1 note
Crime coverage is partial, so safety comparisons need source context.
What Works
No signal
No strong positive housing signal was available in the current dataset.
What to Check
Tax rate needs attention
1.21% effective property-tax rate is 21% above 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
- Buyers comparing homes to local incomes
Poor Fit For
- Buyers focused only on purchase price and ignoring annual property tax
- 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 Steele 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. | $234,200 | $221,100 | $281,900 | 6% pressure6% above Minnesota county median |
Median gross rent Lower usually helps affordability. | $1,006 | $873 | $1,163 | 15% pressure15% above Minnesota county median |
Monthly owner cost Lower usually helps affordability. | $1,258 | $1,034 | $1,672 | 22% pressure22% above Minnesota county median |
Median household income | $83,448 | $71,573 | $74,755 | 17% favorable17% above Minnesota county median |
Effective property-tax rate Lower usually helps affordability. | 1.21% | 0.99% | 1.02% | 21% pressure21% above Minnesota county median |
Rent burden Lower usually helps affordability. | 33.00% | 26.00% | N/A | 27% pressure33.00% 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
+$43,208
Median income minus rent threshold.
Owner cushion
+$29,534
Median income minus owner-cost threshold.
Affordability Advisory
This turns the raw housing numbers into income and buy-versus-rent screens.
Affordability verdict
Steele County is affordable for renters, with a median gross rent of $1,006/month representing approximately 14.5% of median household income. The rent burden (GRAPI) stands at 33.0%.
Rent vs own
At $1,006/month rent versus $1,258/month in owner costs, renting is roughly $252/month cheaper , a 20% difference.
Income needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $40,240/year. For owner costs at the 28% rule, the required income is roughly $53,914/year. With a median household income of $83,448, most households can comfortably afford rent here. Notably, 33.0% of renter households in Steele County are cost-burdened, spending more than 30% of income on housing.
Regional context
Within Minnesota, Steele County is less affordable than Stearns County by roughly 5% ($1,006/mo vs $1,057/mo).
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 |
|---|---|---|---|
| Carlton County, MN | $232,000 | $967/mo | Same-state comparison near $232,000 home value and $967/mo rent. |
| Clay County, MN | $256,000 | $1,000/mo | Same-state comparison near $256,000 home value and $1,000/mo rent. |
| Lake County, MN | $222,900 | $1,026/mo | Same-state comparison near $222,900 home value and $1,026/mo rent. |
| McLeod County, MN | $233,400 | $906/mo | Same-state comparison near $233,400 home value and $906/mo rent. |
| Kanabec County, MN | $221,100 | $1,003/mo | Same-state comparison near $221,100 home value and $1,003/mo rent. |
Data Confidence
- Crime coverage is partial, so safety comparisons need source context.
Next Checks
Housing Questions for Steele County
Is Steele County affordable for buying a home?
Is renting or owning cheaper in Steele County?
How much income do you need for housing in Steele County?
What should I double-check before moving to Steele County?
Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.