Market Overview
Home Prices in Redwood Falls, MN
The median home value in Redwood Falls, MN is $177,185 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.6% compared to a year ago and up 0.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Redwood Falls are priced57% below average.
Over the past five years, Redwood Falls home values have risen by approximately30.7%, reflecting strong long-term appreciation in this market.
Price History
Redwood Falls Home Price Trend
2020
$121,555
$122K
—
2021
$135,575
$136K
+11.5%
2022
$158,387
$158K
+16.8%
2023
$166,201
$166K
+4.9%
2024
$165,480
$165K
-0.4%
2025
$166,162
$166K
+0.4%
2026
$177,185
$177K
+6.6%
City Comparison
Redwood Falls vs. National Median
🏠 Redwood Falls
$177,185
National Median
$410,000
At $177,185, homes in Redwood Falls cost 57% below the national median of $410,000. This makes Redwood Falls a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Redwood Falls?
20% Down Payment
$35,437
on $177,185
Monthly P&I
$924/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,173/mo
incl. taxes & insurance
Income Needed
$46,920
gross annual (30% rule)
10% Down Option
$17,719
+ PMI applies
Loan Amount (20% dn)
$141,748
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 Redwood Falls, MN?
The median home value in Redwood Falls is $177,185 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.6% year-over-year.
How much have home prices changed in Redwood Falls?
Over the past year, home values in Redwood Falls have increased by 6.6%. Over five years, prices have risen approximately 30.7%.
How much do I need to earn to buy a home in Redwood Falls?
To comfortably afford the median home price of $177,185 with a 20% down payment ($35,437) at today's rates (6.8%), you'd need a gross annual income of approximately $46,920. This assumes keeping total housing costs at or below 30% of gross income.
How does Redwood Falls compare to the national average home price?
The national median home value is approximately $410,000. At $177,185, homes in Redwood Falls are 57% below the national average.