There are currently 7,264 real estate properties in Fergus Falls, MN, with a median automated valuation model (AVM) price of $237,738.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Fergus Falls, MN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Fergus Falls, MN, is $306,022.00, with the most expensive house in Fergus Falls, MN, topping out at $7,906,648.00 and the cheapest home in Fergus Falls, MN, clocking in at $13,635.00. In other words, there’s something for every potential homebuyer or savvy investor in Fergus Falls, MN!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Fergus Falls, MN, is on a rollercoaster ride. The average rent price in Fergus Falls, MN, is $1,407.00. Indeed, when looking to rent in Fergus Falls, MN, you can expect to pay as little as $570.00 or as much as $2,260.00, with the average rent median estimated to be $1,360.00. The good news is that finding an affordable and desirable property to rent in Fergus Falls, MN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Fergus Falls is located in Otter Tail, Minnesota, with an estimated municipal population of 13,794 residents. All of the best foreclosed homes for sale in Fergus Falls are located in the following zip code areas on Foreclosure.com: 56537 56538. The estimated population per square kilometer (.62 miles) in Fergus Falls is 368.
So, about how much do homes cost in Fergus Falls? The most recent median value of resident-owned homes in Fergus Falls is 134,137. An estimated 60.6 percent of households in Fergus Falls own their homes, with an average family size of 2.79. The median household income in Fergus Falls is 43,528, with16.5 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Fergus Falls, the median commute time of resident workers (in minutes) is 13. And last, but certainly not least, are you looking for homes to rent in Fergus Falls? If so, the average rent price paid by renters in Fergus Falls is 653, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Fergus Falls, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Fergus Falls is 42.9, split between 46 percent male versus 54 female. The percentage of residents who report being married in Fergus Falls is 46.4, with an average family size of 2.79.
The percentage of residents who report their race in Fergus Falls is as follows:
| White | 94.4% |
| Black / African American | 2.5% |
| Asian | 0.8% |
| American Indian / Alaskan Native | 0.9% |
| Native Hawaiian / Other Pacifc Islander | 0% |
| Multi-racial | 1.4% |
| Other | 0% |
Looking for family-friendly neighborhoods in and/or near Fergus Falls? Or maybe you are searching for 55+ active adult communities in and/or near Fergus Falls?
The percentage of residents who report their age in Fergus Falls is as follows:
| Under 10 | 13.1% |
| Aged 10-19 | 10.4% |
| 20s | 12.9% |
| 30s | 10.5% |
| 40s | 9% |
| 50s | 11.9% |
| 60s | 14% |
| 70s | 8.5% |
| 80+ | 9.9% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Fergus Falls with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Fergus Falls.
How do you know that living in -- or moving to -- Fergus Falls is right where you need to be? Perhaps you grew up in Fergus Falls or already live nearby; therefore, the decision to buy a home in Fergus Falls is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Fergus Falls for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Fergus Falls:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Fergus Falls.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Fergus Falls can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Fergus Falls, meanwhile, can field multiple offers from more qualified buyers.
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