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Willow River

Learn about the people, housing, costs and businesses in Willow River, Minnesota

Median Home$229,300
Median Rent$1,044/month
Population394
Leading IndustriesWholesale Trade · Public Administration · Construction12% wholesale trade
Home Value Growth+10.1% over 2 years
Retirees22% of residentsnear the national average
Homeowners84% of occupied units
NotableVeteran Community10% of residents · top 14% nationally
Willow River
MN

Frequently Asked Questions

What are today's mortgage rates in Willow River?

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

The median home value in Willow River is $229k. The median monthly rent is $1,044. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Willow River?

Home values in Willow River have increased 10.1% 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 Willow River?

Based on a typical all-in ownership cost of $992/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $43k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Willow River is $75k/year.

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What industries drive the economy in Willow River?

The largest employment sectors in Willow River are public administration (29%) and wholesale trade (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.