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Northome

Learn about the people, housing, costs and businesses in Northome, Minnesota

Median Home$157,700
Median Rent$967/month
Population139
Leading IndustriesFinance & Insurance · Construction · Arts, Food & Hospitality8% finance & insurance
Home Value Growth+6.7% over 2 years
Retirees37% of residentstop 2% nationally
Homeowners90% of occupied units
Northome
MN

Frequently Asked Questions

What are today's mortgage rates in Northome?

As of today, the 30-year fixed mortgage rate for Northome is approximately 6.965% (7.004% 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 Northome?

The median home value in Northome 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 Northome?

Home values in Northome 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 Northome?

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 Northome is $70k/year.

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What industries drive the economy in Northome?

The largest employment sectors in Northome are public administration (21%) and healthcare (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.