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Pine River-Backus Public

Learn about the people, housing, costs and businesses in Pine River-Backus Public, Minnesota

Median Home$293,789
Median Rent$840/month
Population8,065
Leading IndustriesWholesale Trade · Professional Services15% wholesale trade
Home Value Growth⬆⬆+16.4% over 2 years
Retirees30% of residentstop 3% nationally
Homeowners87% of occupied units
NotableVeteran Community10% of residents · top 9% nationally
Pine River-Backus Public
MN

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Real local data across mortgage, insurance, natural hazard, and place.

Frequently Asked Questions

What are today's mortgage rates in Pine River-Backus Public?

As of today, the 30-year fixed mortgage rate for Pine River-Backus Public is approximately 6.947% (6.985% 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 Pine River-Backus Public?

The median home value in Pine River-Backus Public is $294k. The median monthly rent is $840. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Pine River-Backus Public?

Home values in Pine River-Backus Public have increased 16.4% 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 Pine River-Backus Public?

Based on a typical all-in ownership cost of $873/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $37k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Pine River-Backus Public is $66k/year.

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What industries drive the economy in Pine River-Backus Public?

The largest employment sectors in Pine River-Backus Public are public administration (18%) and wholesale trade (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.