Market Snapshot
Report generated March 2026
| Indicator | Value |
|---|---|
| Population | 13,877 ↓ 0.8% since 2020 |
| Median Household Income | $72,561 3% below national median |
| Median Home Value | $188,900 |
| Unemployment Rate | 2.8% |
| Median Age | 40.2 years |
| Housing Vacancy Rate | 8.7% |
| Total Land Sales (Past 12 Months) | 27 transactions |
| Active Listings | 23 properties |
| Avg Days on Market | 522 days |
Rural Land Sales (1+ Acres) (Mar 2025 – Feb 2026)
| Metric | Value |
|---|---|
| Median Price/Acre | $2,240 |
| Recent Sales | 25 transactions |
| Avg Days on Market | 258 days |
| Avg Parcel Size | 58.03 acres |
| Active Listings | 18 properties |
Recent Rural Land Sales
| Date | Acres | Price | $/Acre | Address | City |
|---|---|---|---|---|---|
| Feb 2026 | 4.00 | $55,000 | $13,750 | Sorteberg Dr | Thief River Falls |
| Jan 2026 | 160.00 | $390,000 | $2,438 | 0 Center St E | Thief River Falls |
| Nov 2025 | 7.21 | $50,000 | $6,935 | 150th Ave NE | Thief River Falls |
| Nov 2025 | 74.83 | $230,000 | $3,074 | 330th Ave NE | Goodridge |
| Sep 2025 | 40.00 | $100,000 | $2,500 | 19410 130th St NE | Thief River Falls |
| Aug 2025 | 160.00 | $240,000 | $1,500 | 34183 Center St E | Goodridge |
| Aug 2025 | 48.96 | $100,000 | $2,042 | 11314 260th Ave NE | Thief River Falls |
| Jul 2025 | 72.52 | $84,000 | $1,158 | 33747 120th St SE | Trail |
| Jul 2025 | 162.06 | $327,000 | $2,018 | 33001 Center St E | Oklee |
| Jun 2025 | 80.00 | $212,000 | $2,650 | 32862 Center St E | Oklee |
| Date | Acres | Price | $/Acre | Address | City |
|---|---|---|---|---|---|
| Jun 2025 | 8.85 | $22,000 | $2,486 | 14283 158th St NE | Thief River Falls |
| Jun 2025 | 39.15 | $75,000 | $1,916 | 16395 110th Ave NW | Thief River Falls |
| May 2025 | 40.00 | $40,000 | $1,000 | 12668 130th St NW | Thief River Falls |
| May 2025 | 19.52 | $75,000 | $3,842 | 110th Ave NW | Thief River Falls |
| May 2025 | 114.45 | $332,500 | $2,905 | 19122 110th St NE | Thief River Falls |
| May 2025 | 15.18 | $34,000 | $2,240 | 14648 140th St NE | Thief River Falls |
| Apr 2025 | 58.36 | $212,000 | $3,633 | 15598 Us Highway 59 NE | Thief River Falls |
| Apr 2025 | 15.18 | $34,000 | $2,240 | 0 180th Ave NE | Thief River Falls |
| Apr 2025 | 59.43 | $237,721 | $4,000 | 14234 175th Ave NE | Thief River Falls |
| Apr 2025 | 40.00 | $80,000 | $2,000 | 19627 110th St NE | Thief River Falls |
| Apr 2025 | 40.00 | $80,000 | $2,000 | PARCEL 110th St NE #B | Thief River Falls |
| Apr 2025 | 39.24 | $62,500 | $1,593 | PARCEL 110th St NE #C | Thief River Falls |
| Apr 2025 | 32.52 | $67,500 | $2,076 | PARCEL 110th St NE #D | Thief River Falls |
| Apr 2025 | 39.24 | $62,500 | $1,593 | 1502 Greenwood St E | Thief River Falls |
| Mar 2025 | 80.00 | $168,000 | $2,100 | 13847 270th Ave SE | Plummer |
Suburban/Urban Land Sales (Under 1 Acre) (Nov 2025 – Dec 2025)
| Metric | Value |
|---|---|
| Median Lot Price | $30,000 |
| Recent Sales | 2 transactions |
| Avg Days on Market | 103 days |
| Avg Parcel Size | 0.38 acres |
| Active Listings | 5 properties |
Recent Suburban/Urban Land Sales
| Date | Acres | Price | Address | City |
|---|---|---|---|---|
| Dec 2025 | 0.15 | $13,500 | 517 Crocker Ave S | Thief River Falls |
| Nov 2025 | 0.61 | $30,000 | 401 Robson Ct | Thief River Falls |
County Profile
| Demographic | Value |
|---|---|
| Total Population (2023) | 13,877 |
| Population (2020) | 13,992 |
| Population Growth | -0.82% |
| Median Household Income | $72,561 |
| Median Home Value | $188,900 |
| Total Housing Units | 6,755 |
| Vacant Housing Units | 585 |
| Housing Vacancy Rate | 8.7% |
| Median Age | 40.2 |
| Bachelor's Degree or Higher | 1,386 (10.0%) |
| Unemployment Rate | 2.8% |
Market Overview
Pennington County, Minnesota has a population of 13,877, which has declined 0.82% since 2020. The median household income is $72,561, below the national median of $74,580 by 2.7%. The housing vacancy rate of 8.7% suggests balanced market conditions. The county's location in Minnesota makes it accessible for investors and developers seeking rural land. Recent rural land sales show a median price of $2,438 per acre, with properties averaging 78.10 acres. There are currently 23 active land listings in the county.
Related Resources
Nearby County Reports
Frequently Asked Questions
What is the current population of Pennington County, Minnesota?
As of the 2023 American Community Survey, Pennington County has a population of 13,877. The county has declined 0.82% since the 2020 Census.
What is the median household income in Pennington County?
The median household income in Pennington County is $72,561, which is 2.7% below the national median of $74,580.
Is Pennington County growing or shrinking?
Pennington County is shrinking. The population has declined 0.82% since 2020.
What is the housing market like in Pennington County?
The median home value in Pennington County is $188,900. The housing vacancy rate is 8.7%, which suggests balanced market conditions. The unemployment rate is 2.8%, reflecting the local economic conditions. Recent rural land sales (1+ acres) show a median price of $2,438 per acre. Suburban/urban lots under 1 acre have a median lot price of $33,750.
Does Reelvest buy land in Pennington County, Minnesota?
Yes! Reelvest Properties buys vacant land throughout Minnesota, including Pennington County. We make cash offers within 24-48 hours, close in 14-30 days, and pay all closing costs. Get your free cash offer today.
Data Sources: Market data reflects recent vacant land transactions in the county. Demographic data from U.S. Census Bureau American Community Survey (2023), Bureau of Labor Statistics (2025). Updated monthly.