Market Overview
Home Prices in Welcome, MN
The median home value in Welcome, MN is $222,852 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 12.1% compared to a year ago and up 4.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Welcome are priced46% below average. Welcome is part of the Fairmont, MN metro area.
Over the past five years, Welcome home values have risen by approximately54.8%, reflecting strong long-term appreciation in this market.
Price History
Welcome Home Price Trend
City Comparison
Welcome vs. National Median
At $222,852, homes in Welcome cost 46% below the national median of $410,000. This makes Welcome a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Welcome?
20% Down Payment
$44,570
on $222,852
Monthly P&I
$1,162/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,476/mo
incl. taxes & insurance
Income Needed
$59,040
gross annual (30% rule)
10% Down Option
$22,285
+ PMI applies
Loan Amount (20% dn)
$178,282
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 Welcome, MN?
The median home value in Welcome is $222,852 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 12.1% year-over-year.
How much have home prices changed in Welcome?
Over the past year, home values in Welcome have increased by 12.1%. Over five years, prices have risen approximately 54.8%.
How much do I need to earn to buy a home in Welcome?
To comfortably afford the median home price of $222,852 with a 20% down payment ($44,570) at today's rates (6.8%), you'd need a gross annual income of approximately $59,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Welcome compare to the national average home price?
The national median home value is approximately $410,000. At $222,852, homes in Welcome are 46% below the national average.
What metro area is Welcome part of?
Welcome is part of the Fairmont, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.