Lake of the Woods County, Minnesota home prices
Typical home $221,109 · +3.8% in a year · property tax 0.66%
The typical home in Lake of the Woods County is worth $221,109, 37% less than the Minnesota typical home ($348,778). Values changed +3.8% in the past year and +17.7% over five years. Homeowners here pay a median 0.66% of their home's value in property tax each year ($1,452 on the typical home), versus 1.04% statewide.
Mortgage on the typical Lake of the Woods County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $44,222 | $176,887 | $1,190 | $0 | $232 | $1,421 | $60,900 |
| 10% down | $22,111 | $198,998 | $1,339 | $83 | $232 | $1,653 | $70,800 |
| 5% down | $11,055 | $210,054 | $1,413 | $88 | $232 | $1,732 | $74,200 |
| 3.5% down (FHA) | $7,739 | $217,104 | $1,460 | $98 | $232 | $1,790 | $76,700 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.66% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in Minnesota.
Minnesota counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Chippewa County | $221,400 | +6.6% | 1.1% |
| Wilkin County | $220,770 | +4.7% | 0.79% |
| Martin County | $219,955 | +3.5% | 1.02% |
| Stevens County | $217,836 | +8.1% | 0.81% |
| Roseau County | $225,440 | +2.2% | 0.97% |
| Lac Qui Parle County | $216,260 | +3.9% | 0.9% |
| Lyon County | $226,888 | +8.5% | 1.06% |
| Jackson County | $227,184 | +0.5% | 0.93% |
| Wadena County | $227,305 | +4.3% | 1.04% |
| Red Lake County | $208,265 | +8.2% | 1% |
Frequently asked questions
What is the average home price in Lake of the Woods County, MN?
The typical home value in Lake of the Woods County is $221,109 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Lake of the Woods County?
About $60,900 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Lake of the Woods County?
The median effective rate is 0.66% of home value a year (Census ACS 2024 5-year estimates).