The housing market in Pelican Rapids, MN is doing very well. The median value of homes in the area is $349,100 which is higher than the national median value of $338,100. Additionally, the one year house appreciation rate in Pelican Rapids is 8.21%, just slightly lower than the national average of 8.27%. This shows that housing in Pelican Rapids has held its value and appreciated over time making it a desirable place to live for those who want to invest in real estate and build equity.
The median home cost in Pelican Rapids is $349,100. Home appreciation the last 10 years has been 73.1%. Home Appreciation in Pelican Rapids is up 13.6%.
Average Age of Homes
- The median age of Pelican Rapids real estate is 43 years old
The Rental Market in Pelican Rapids
- Renters make up 32.8% of the Pelican Rapids population
- 1.5% of houses and apartments in Pelican Rapids, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.