Market Overview
Home Prices in Detroit Lakes, MN
The median home value in Detroit Lakes, MN is $380,833 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.1% compared to a year ago and up 3.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Detroit Lakes are priced7% below average.
Over the past five years, Detroit Lakes home values have risen by approximately27.5%, reflecting strong long-term appreciation in this market.
Price History
Detroit Lakes Home Price Trend
2020
$266,942
$267K
—
2021
$298,658
$299K
+11.9%
2022
$340,669
$341K
+14.1%
2023
$352,189
$352K
+3.4%
2024
$357,324
$357K
+1.5%
2025
$369,519
$370K
+3.4%
2026
$380,833
$381K
+3.1%
City Comparison
Detroit Lakes vs. National Median
🏠 Detroit Lakes
$380,833
National Median
$410,000
At $380,833, homes in Detroit Lakes cost 7% below the national median of $410,000. This makes Detroit Lakes a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Detroit Lakes?
20% Down Payment
$76,167
on $380,833
Monthly P&I
$1,986/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,522/mo
incl. taxes & insurance
Income Needed
$100,880
gross annual (30% rule)
10% Down Option
$38,083
+ PMI applies
Loan Amount (20% dn)
$304,666
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 Detroit Lakes, MN?
The median home value in Detroit Lakes is $380,833 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.1% year-over-year.
How much have home prices changed in Detroit Lakes?
Over the past year, home values in Detroit Lakes have increased by 3.1%. Over five years, prices have risen approximately 27.5%.
How much do I need to earn to buy a home in Detroit Lakes?
To comfortably afford the median home price of $380,833 with a 20% down payment ($76,167) at today's rates (6.8%), you'd need a gross annual income of approximately $100,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Detroit Lakes compare to the national average home price?
The national median home value is approximately $410,000. At $380,833, homes in Detroit Lakes are 7% below the national average.