Market Overview
Home Prices in Ormsby, MN
The median home value in Ormsby, MN is $312,559 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 10% compared to a year ago and up 4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ormsby are priced24% below average. Ormsby is part of the Fairmont, MN metro area.
Over the past five years, Ormsby home values have risen by approximately44.8%, reflecting strong long-term appreciation in this market.
Price History
Ormsby Home Price Trend
2020
$181,712
$182K
—
2021
$215,812
$216K
+18.8%
2022
$262,408
$262K
+21.6%
2023
$266,967
$267K
+1.7%
2024
$273,281
$273K
+2.4%
2025
$284,210
$284K
+4.0%
2026
$312,559
$313K
+10.0%
City Comparison
Ormsby vs. National Median
🏠 Ormsby
$312,559
National Median
$410,000
At $312,559, homes in Ormsby cost 24% below the national median of $410,000. This makes Ormsby a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ormsby?
20% Down Payment
$62,512
on $312,559
Monthly P&I
$1,630/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,070/mo
incl. taxes & insurance
Income Needed
$82,800
gross annual (30% rule)
10% Down Option
$31,256
+ PMI applies
Loan Amount (20% dn)
$250,047
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 Ormsby, MN?
The median home value in Ormsby is $312,559 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 10% year-over-year.
How much have home prices changed in Ormsby?
Over the past year, home values in Ormsby have increased by 10%. Over five years, prices have risen approximately 44.8%.
How much do I need to earn to buy a home in Ormsby?
To comfortably afford the median home price of $312,559 with a 20% down payment ($62,512) at today's rates (6.8%), you'd need a gross annual income of approximately $82,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Ormsby compare to the national average home price?
The national median home value is approximately $410,000. At $312,559, homes in Ormsby are 24% below the national average.
What metro area is Ormsby part of?
Ormsby is part of the Fairmont, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.