What is the median home price in Park Rapids?

The median home price in Park Rapids, Park Rapids city, Minnesota is $222,300, which is 21% below the national average of 281,900 ($281,900).

Park Rapids, Park Rapids city, Minnesota has a violent crime rate of 1.2 per 1,000 residents, which is 67% below the national average, making it relatively safe. The national average is 3.6 per 1,000 residents. The property crime rate is 5.7 per 1,000 residents.

What is the median household income in Park Rapids?

The median household income in Park Rapids, Park Rapids city, Minnesota is $42,892, which is 42% below the national average of 74,580 ($74,580).

What is the average rent in Park Rapids?

The median rent in Park Rapids, Park Rapids city, Minnesota is $691 per month. The national average median rent is $1,163/month.

What is the population of Park Rapids?

The population of Park Rapids, Park Rapids city, Minnesota is approximately 4,163. The homeownership rate is 45.1% (national average: 65.9%).

What is the unemployment rate in Park Rapids?

The unemployment rate in Park Rapids, Park Rapids city, Minnesota is 5.2%. The national average unemployment rate is 3.7%. The poverty rate is 15.4% (national average: 12.4%).

Park Rapids

Park Rapids city, Minnesota

Affordable

About Park Rapids

Alright, let's talk Park Rapids, Minnesota. If you're dreaming of a life where the pace slows and the air is fresh, you've come to the right place. Nestled in the heart of Minnesota, this charming town offers an incredibly attractive proposition, especially for those seeking affordability. With a population just over 4,000, Park Rapids boasts a close-knit community vibe that's hard to find elsewhere. The cost of living is a major draw, with a median home value of around $222,300—significantly lower than the national average. You'll find yourself stretching your dollar much further here, allowing you to enjoy the natural beauty and recreational opportunities that abound without breaking the bank.

From an investment perspective, Park Rapids presents a compelling case. While the median household income of about $42,892 is below the national average, the lower cost of living makes this a practical place to live. The area is known for its safety and outdoor lifestyle, making it ideal for families and retirees. The housing market is stable, and with the growing interest in small-town living, property values are poised for potential appreciation. If you're seeking an affordable, safe, and community-focused place to call home, or if you're looking to invest in a market with strong fundamentals, Park Rapids is certainly worth a closer look.

Park Rapids, Minnesota at a Glance

Park Rapids is a city in Park Rapids city, Minnesota with a population of approximately 4,163. The median home value is $222,300 and the median household income is $42,892.. The violent crime rate is 1.2 per 1,000 residents, which is 67% below the national average.. Median rent is $691 per month. Data sourced from the US Census Bureau, FBI Crime Data Explorer, EPA, Walk Score, and FEMA.