Cost of Living in Pennington County, Minnesota

$900/mo

Median Monthly Rent

$188,900

Median Home Value

2% below state averageUnaffordable

At a Glance

Median Monthly Rent

$900/mo

2% below state average

Median Home Value

$188,900

33% below national

Rent-to-Income Ratio

23.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Pennington County Compares

Median monthly rent comparison

Pennington County$900/mo

Minnesota Average$915/mo

National Median$1,163/mo

Detailed Housing Stats

$900/mo

Median Gross Rent

$188,900

Median Home Value

$1,076/mo

Monthly Owner Cost

23.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Pennington County, Minnesota

Pennington's rent burden slightly above national norm

Renters in Pennington County spend 14.9% of their income on housing, slightly above the national average of 14.5%. While the county's median household income of $72,561 trails the U.S. median by $2,194, housing costs remain manageable by national standards.

Middle of the pack in Minnesota affordability

Pennington County ranks near the state average for rental affordability, with a rent-to-income ratio that nearly matches Minnesota's 14.5% statewide average. The median rent of $900 is slightly below the state median of $915.

Cheaper than Pine, similar to Polk

Pennington's $900 monthly rent undercuts neighboring Pine County ($873) and compares favorably to Polk County ($843). However, homeownership costs in Pennington ($1,076/month) are notably higher than in rural Pipestone ($787) or Redwood ($784) counties.

Housing takes a modest slice of income

On a median income of $72,561, renters spend $900 monthly while homeowners pay $1,076—totaling about 15% and 18% of household income respectively. The affordability gap between renting and owning widens in Pennington, where median home values reach $188,900.

Consider Pennington for balanced housing costs

If you're weighing relocation, Pennington offers housing costs near national averages with a decent income base. Compare it to Red Lake County's exceptional 9.7% rent burden or Ramsey County's tight 19.2% ratio to find your affordability sweet spot.

Affordability Calculator

See how your income compares to housing costs in Pennington County

Your Annual Household Income

Rent Burden

14.9%

of gross income

Max Housing (28% Rule)

$1,693

per month

Owner Cost Burden

17.8%

of gross income

You can likely afford the median home in Pennington County

Median home value is $188,900. Estimated monthly cost: $1,508 vs. your max of $1,693.

Rent Affordability Guide

Your rent-to-income ratio14.9%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Pennington County, Minnesota?

Pennington County, Minnesota has a median monthly rent of $900/mo and a median home value of $188,900. The affordability rating is Unaffordable, with rent making up approximately 23.0% of median household income.

What is the median rent in Pennington County?

The median gross rent in Pennington County is $900/mo. This is 2% below state average for Minnesota.

Is Pennington County affordable?

Pennington County is rated Unaffordable based on rent-to-income ratio of 23.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Pennington County's rent compare to the state average?

Pennington County's median rent of $900/mo is 2% below state average of $915/mo for Minnesota.

What is the median home value in Pennington County?

The median home value in Pennington County, Minnesota is $188,900. This is 33% below the national median home value of $281,900.