Market Overview
Home Prices in Parkers Prairie, MN
The median home value in Parkers Prairie, MN is $186,888 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.5% compared to a year ago and up 4.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Parkers Prairie are priced54% below average. Parkers Prairie is part of the Fergus Falls, MN metro area.
Over the past five years, Parkers Prairie home values have risen by approximately31.2%, reflecting strong long-term appreciation in this market.
Price History
Parkers Prairie Home Price Trend
City Comparison
Parkers Prairie vs. National Median
At $186,888, homes in Parkers Prairie cost 54% below the national median of $410,000. This makes Parkers Prairie a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Parkers Prairie?
20% Down Payment
$37,378
on $186,888
Monthly P&I
$975/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,238/mo
incl. taxes & insurance
Income Needed
$49,520
gross annual (30% rule)
10% Down Option
$18,689
+ PMI applies
Loan Amount (20% dn)
$149,510
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 Parkers Prairie, MN?
The median home value in Parkers Prairie is $186,888 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.5% year-over-year.
How much have home prices changed in Parkers Prairie?
Over the past year, home values in Parkers Prairie have increased by 2.5%. Over five years, prices have risen approximately 31.2%.
How much do I need to earn to buy a home in Parkers Prairie?
To comfortably afford the median home price of $186,888 with a 20% down payment ($37,378) at today's rates (6.8%), you'd need a gross annual income of approximately $49,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Parkers Prairie compare to the national average home price?
The national median home value is approximately $410,000. At $186,888, homes in Parkers Prairie are 54% below the national average.
What metro area is Parkers Prairie part of?
Parkers Prairie is part of the Fergus Falls, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.