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📍 Crane Lake, MN · Zillow ZHVI · July 2026

Average Home Price in
Crane Lake, MN

Duluth, MN-WI metro area · Saint Louis County County

Median Home Value
$327,834
↑ 12.9% year-over-year
vs. National Median
$410,000
Crane Lake is 20% below
Est. Monthly Payment
$1,710/mo
20% down · 6.8% rate
Income Needed
$87K
gross annual (30% rule)
Median Home Value
$327,834
↑ 12.9% year-over-year
Down Payment (20%)$65,567
Monthly P&I$1,710/mo
With Taxes & Ins.~$2,172/mo
Income Needed$86,880/yr
Data SourceZillow ZHVI
Market Overview

Home Prices in Crane Lake, MN

The median home value in Crane Lake, MN is $327,834 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 12.9% compared to a year ago and up 3.2% from two years prior.

Compared to the U.S. national median of $410,000, homes in Crane Lake are priced20% below average. Crane Lake is part of the Duluth, MN-WI metro area.

City Comparison

Crane Lake vs. National Median

🏠 Crane Lake
$327,834
National Median
$410,000

At $327,834, homes in Crane Lake cost 20% below the national median of $410,000. This makes Crane Lake a relatively affordable market for buyers seeking value.

Affordability

What Does It Cost to Buy in Crane Lake?

20% Down Payment
$65,567
on $327,834
Monthly P&I
$1,710/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,172/mo
incl. taxes & insurance
Income Needed
$86,880
gross annual (30% rule)
10% Down Option
$32,783
+ PMI applies
Loan Amount (20% dn)
$262,267
at current rates

Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.

FAQ

Frequently Asked Questions

What is the average home price in Crane Lake, MN?
The median home value in Crane Lake is $327,834 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 12.9% year-over-year.
How much have home prices changed in Crane Lake?
Over the past year, home values in Crane Lake have increased by 12.9%.
How much do I need to earn to buy a home in Crane Lake?
To comfortably afford the median home price of $327,834 with a 20% down payment ($65,567) at today's rates (6.8%), you'd need a gross annual income of approximately $86,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Crane Lake compare to the national average home price?
The national median home value is approximately $410,000. At $327,834, homes in Crane Lake are 20% below the national average.
What metro area is Crane Lake part of?
Crane Lake is part of the Duluth, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.