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Ormsby

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

Median Home$167,994
Median Rent$862/month
Population118
Leading IndustriesConstruction · Agriculture & Mining · Wholesale Trade14% construction
Home Value Growth⬆⬆+14.8% over 2 years
Retirees25% of residentsabove average nationally
Homeowners81% of occupied units
Ormsby
MN

Frequently Asked Questions

What are today's mortgage rates in Ormsby?

As of today, the 30-year fixed mortgage rate for Ormsby 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 Ormsby?

The median home value in Ormsby is $168k. The median monthly rent is $862. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Ormsby?

Home values in Ormsby have increased 14.8% over the past two years. This indicates a strong appreciation trend. 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 Ormsby?

Based on a typical all-in ownership cost of $842/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $36k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Ormsby is $76k/year.

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What industries drive the economy in Ormsby?

The largest employment sectors in Ormsby are public administration (21%) and agriculture and mining (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.