Ottertail, MN—56571
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Ottertail, MN
As of Oct '25, the median home price in Ottertail, MN is $353,000, with a year-over-year change of 0.6%. This indicates that home prices in Ottertail, MN are flat. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $353,000 | 0.6% |
| Single Family | $354,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Ottertail, MN
Ottertail, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Ottertail, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Ottertail, MN is 95. This is a increase of 83.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $333,000 | -1.0% |
Listing Count | 36 | 35.0% |
| Listings as % of Homes | 0.7% | 35.0% |
Days on Market | 95 | 83.0% |
Demographics — Ottertail, MN
As of the latest ACS Survey released in 2023, Ottertail, MN has a population of 1,760, which has decreased by -3.6% over the past 5 years. Ottertail, MN is a less popular place for families, as children make up 14.0% of the population. The area has a moderately educated workforce, with 27.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,760 | -3.6% |
% Under 18 | 14.0% | -26.3% |
% Seniors | 35.4% | 37.7% |
% WFH | 17.4% | 210.7% |
% w/ College Degree | 27.0% | 14.4% |
As of the latest ACS Survey released in 2023, Ottertail, MN is a predominantly white area, with 94.8% of the population identifying as white. The white population has shrunk by 0.4% in the last 5 years. The second most common race or ethnicity in Ottertail, MN is hispanic, making up 1.4% of the population. Foreign-born residents account for 1.6% of the population in Ottertail, MN, and this percentage has decreased by 27.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 94.8% | -0.4% |
% Black | 0.1% | ∞% |
% Hispanic | 1.4% | -53.3% |
% Asian | 0.7% | ∞% |
% Foreign Born | 1.6% | -27.3% |
Mortgage and Risk — Ottertail, MN
According to HUD data as of 2023, there were 44 mortgage originations in Ottertail, MN, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Ottertail, MN. Investor activity is low, as 7.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 44 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 7.0% |
% Second Loans | 30.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Ottertail, MN
Ottertail, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $850 |
| 2 Bedroom | N/A | N/A | $1,110 |
| 3 Bedroom | N/A | N/A | $1,530 |
| 4 Bedroom | N/A | N/A | $1,620 |
Affordability — Ottertail, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $353,000 |
| Median Household Income | $83,500 |