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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Thief River Falls, MN Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Thief River Falls, MN Housing Market Trends

With a population of 8,903, 4,126 total housing units (homes and apartments), and a median house value of $202,255, house prices in Thief River Falls are solidly below the national average.

Single-family detached homes are the single most common housing type in Thief River Falls, accounting for 59.46% of the city's housing units. Other types of housing that are prevalent in Thief River Falls include large apartment complexes or high rise apartments ( 23.01%), mobile homes or trailers ( 7.27%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.89%).

People in Thief River Falls primarily live in small (one, two or no bedroom) single-family detached homes. Thief River Falls has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Thief River Falls built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Thief River Falls built between 1940-1969 ( 28.43%). A lesser amount of the housing stock also hails from before 1939 ( 21.27%). There's also some housing in Thief River Falls built between 2000 and later ( 17.24%).

Thief River Falls Home Appreciation Rates

Thief River Falls's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Thief River Falls during the period has been just 4.54%, which is lower than 80% of US communities.

Over the last year, Thief River Falls appreciation rates have trailed the rest of the nation. In the last twelve months, Thief River Falls's appreciation rate has been 3.81%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Thief River Falls were at -0.63%, which equates to an annual appreciation rate of -2.49%.

Notably, Thief River Falls's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Minnesota, our data show that Thief River Falls's latest annual appreciation rate is higher than 60% of the other cities and towns in Minnesota.

Average Home Values

Median Home Value

$202,255

Thief River Falls, MN Home Prices
> $1,232,000
$924,001 - $1,232,000
$616,001 - $924,000
$493,001 - $616,000
$370,001 - $493,000
$246,001 - $370,000
$123,001 - $246,000
$61,001 - $123,000
$0 - $61,000
0.5%
0.5%
0.0%
0.0%
0.8%
0.8%
3.2%
3.2%
3.4%
3.4%
28.3%
28.3%
45.2%
45.2%
11.6%
11.6%
7.1%
7.1%
0% 100.0%
% of Homes
Very Low

for Minnesota

Low

for nation

Number of Homes And Apartments:

4,126

Thief River Falls Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,412 / per month

Homeownership Rate

Owners
Renters
61.1%
61.1%
38.9%
38.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.1%
7.1%
92.9%
92.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.2%
17.2%
33.0%
33.0%
28.4%
28.4%
21.3%
21.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
59.5%
59.5%
3.4%
3.4%
6.9%
6.9%
23.0%
23.0%
7.3%
7.3%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.7%
2.7%
15.2%
15.2%
31.5%
31.5%
34.5%
34.5%
11.3%
11.3%
4.9%
4.9%
0% 100.0%
% of Homes

Popular Neighborhoods in Thief River Falls

Popular Communities Near Thief River Falls, MN

Zip Codes in Thief River Falls, MN