Preforeclosure Homes in Park Rapids, MN

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View this home at Everlasting Dr Park Rapids MN 56470
$274,121 EMV

3 Bed | 1 Bath | 1,496 Sq. Ft.

5 View this home at 3rd St E Park Rapids MN 56470
$265,295 EMV

5 Bed | 2 Bath

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Home Value Estimator For Park Rapids, MN

There are currently 5,765 real estate properties in Park Rapids, MN, with a median automated valuation model (AVM) price of $313,500.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Park Rapids, 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 Park Rapids, MN, is $384,459.00, with the most expensive house in Park Rapids, MN, topping out at $6,500,000.00 and the cheapest home in Park Rapids, MN, clocking in at $18,700.00. In other words, there’s something for every potential homebuyer or savvy investor in Park Rapids, MN!

Rent Prices In Park Rapids, MN

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Park Rapids, MN, is on a rollercoaster ride. The average rent price in Park Rapids, MN, is $1,401.00. Indeed, when looking to rent in Park Rapids, MN, you can expect to pay as little as $580.00 or as much as $2,640.00, with the average rent median estimated to be $1,380.00. The good news is that finding an affordable and desirable property to rent in Park Rapids, 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.

Foreclosure Homes in Park Rapids, MN

Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Park Rapids, MN area at Get information on foreclosure homes for rent, how to buy foreclosures in Park Rapids, MN and much more. Save thousands at closing with home foreclosure listings in Park Rapids, MN — up to 75% off market value!

Top Reasons To Live In Park Rapids, MN In 2023

Park Rapids is located in Hubbard, Minnesota, with an estimated municipal population of 4,235 residents. All of the best foreclosed homes for sale in Park Rapids are located in the following zip code areas on 56470. The estimated population per square kilometer (.62 miles) in Park Rapids is 220.

Cost Of Living In Park Rapids, MN

So, about how much do homes cost in Park Rapids? The most recent median value of resident-owned homes in Park Rapids is 144,823. An estimated 45.3 percent of households in Park Rapids own their homes, with an average family size of 3.16. The median household income in Park Rapids is 34,973, with10.8 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Park Rapids, the median commute time of resident workers (in minutes) is 14.4. And last, but certainly not least, are you looking for homes to rent in Park Rapids? If so, the average rent price paid by renters in Park Rapids is 572, according to recent statistics.

Diversity And Demographics In Park Rapids, Minnesota

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 Park Rapids, 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 Park Rapids is 36, split between 46.5 percent male versus 53.5 female. The percentage of residents who report being married in Park Rapids is 39.6, with an average family size of 3.16.

The percentage of residents who report their race in Park Rapids is as follows:

White 85.7%
Black / African American 2%
Asian 0.4%
American Indian / Alaskan Native 3.1%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 4.2%
Other 4.6%

Looking for family-friendly neighborhoods in and/or near Park Rapids? Or maybe you are searching for 55+ active adult communities in and/or near Park Rapids?

The percentage of residents who report their age in Park Rapids is as follows:

Under 10 15.3%
Aged 10-19 9.6%
20s 16.3%
30s 13.6%
40s 8.7%
50s 9.3%
60s 9.7%
70s 8.9%
80+ 8.7%

Best Schools In Park Rapids, Minnesota

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 Park Rapids with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Park Rapids.

Pros And Cons Of Living In Park Rapids, Minnesota

How do you know that living in -- or moving to -- Park Rapids is right where you need to be? Perhaps you grew up in Park Rapids or already live nearby; therefore, the decision to buy a home in Park Rapids is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Park Rapids 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 Park Rapids:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Park Rapids.

Reasons To Move To Park Rapids, Minnesota, In 2023

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Park Rapids can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Park Rapids, meanwhile, can field multiple offers from more qualified buyers.

Park Rapids, MN Preforeclosure Homes


Listing types in Park Rapids, MN

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