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Peterson

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

Median Home$227,600
Median Rent$848/month
Population229
Leading IndustriesWholesale Trade · Public Administration · Transportation13% wholesale trade
Home Value Growth⬆⬆+18.0% over 2 years
Family-Friendly26% of residentsabove average nationally
Homeowners82% of occupied units
NotableTransit79/100 · excellent transit access
Peterson
MN

Frequently Asked Questions

What are today's mortgage rates in Peterson?

As of today, the 30-year fixed mortgage rate for Peterson is approximately 6.927% (6.964% 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 Peterson?

The median home value in Peterson is $228k. The median monthly rent is $848. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Peterson?

Home values in Peterson have increased 18.0% 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 Peterson?

Based on a typical all-in ownership cost of $1,084/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $46k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Peterson is $84k/year.

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What industries drive the economy in Peterson?

The largest employment sectors in Peterson are public administration (28%) and wholesale trade (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.