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Big Falls

Learn about the people, housing, costs and businesses in Big Falls, Minnesota

Median Home$157,700
Median Rent$967/month
Population157
Leading IndustriesRetail · Professional Services · Construction23% retail
Home Value Growth+6.7% over 2 years
Retirees24% of residentsslightly above average
Homeowners91% of occupied units
Big Falls
MN

Frequently Asked Questions

What are today's mortgage rates in Big Falls?

As of today, the 30-year fixed mortgage rate for Big Falls is approximately 7.035% (7.079% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Big Falls?

The median home value in Big Falls is $158k. The median monthly rent is $967. Annual property taxes average $908. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Big Falls?

Home values in Big Falls have increased 6.7% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Big Falls?

Based on a typical all-in ownership cost of $655/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $28k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Big Falls is $70k/year.

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What industries drive the economy in Big Falls?

The largest employment sectors in Big Falls are retail (23%) and public administration (23%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.