Market Overview
Home Prices in Northrop, MN
The median home value in Northrop, MN is $149,900 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1% compared to a year ago and up 8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Northrop are priced63% below average. Northrop is part of the Fairmont, MN metro area.
Over the past five years, Northrop home values have risen by approximately44.3%, reflecting strong long-term appreciation in this market.
Price History
Northrop Home Price Trend
City Comparison
Northrop vs. National Median
At $149,900, homes in Northrop cost 63% below the national median of $410,000. This makes Northrop a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Northrop?
20% Down Payment
$29,980
on $149,900
Monthly P&I
$782/mo
30-yr @ 6.8%
Total Monthly Est.
~$993/mo
incl. taxes & insurance
Income Needed
$39,720
gross annual (30% rule)
10% Down Option
$14,990
+ PMI applies
Loan Amount (20% dn)
$119,920
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 Northrop, MN?
The median home value in Northrop is $149,900 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1% year-over-year.
How much have home prices changed in Northrop?
Over the past year, home values in Northrop have increased by 1%. Over five years, prices have risen approximately 44.3%.
How much do I need to earn to buy a home in Northrop?
To comfortably afford the median home price of $149,900 with a 20% down payment ($29,980) at today's rates (6.8%), you'd need a gross annual income of approximately $39,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Northrop compare to the national average home price?
The national median home value is approximately $410,000. At $149,900, homes in Northrop are 63% below the national average.
What metro area is Northrop part of?
Northrop is part of the Fairmont, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.