Housing in Jay

A typical Jay home is worth roughly $283,000

Home prices around Jay have risen about 51% over the past 5 years.

Typical home value

$283K

▼ 2.7% in a year · MN $351K

Estimate

2-bedroom rent

$1,120

a month, utilities in · HUD

Median tax bill

$1,261

MN $3,357

What kind of housing town is Jay?

Read from the numbers below. The page puts what stands out first.

A town of owners94% of households own their home.Prices coolingDown 2.7% in a year.Your money goes further19% below the Minnesota typical home.

★ What stands out · The homes

94% of Jay households own their home

Half of Jay’s homes were built before 1969.

Owners and renters

Own 94%Rent 6%

Minnesota: 72% own.

1969

typical home built · MN 1979

$1,261

median property tax bill · MN $3,357

of homes are seasonal or vacation homes

U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.

Price trend

Home prices up 51% in 5 years

The federal house price index for the ZIP codes around Jay rose 51% over the past 5 years, faster than across Minnesota (37%). Last year prices fell 2.7%.

Jay areaMinnesota

−2.7%

past year

+51%

past 5 years

+71%

past 10 years

Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Jay, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.

Affordability

What it takes to buy in Jay

Try your own numbers below.

You could afford about

$341,000

Typical Jay home $283K

That covers a typical Jay home, with $58K to spare.

The typical home, each month

$1,730

Loan $1,400Tax $240Insurance $80

A two-bedroom rents for about $1,120 a month here, $610 less than owning.

Where your budget reaches nearby

Sherburn$239K

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the Minnesota typical property tax (1.02% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

Renting

A two-bedroom rents for about $1,120

Fair Market Rent a month, utilities included

Studio$770

1 bedroom$920

2 bedrooms$1,120

3 bedrooms$1,470

4 bedrooms$1,480

of households rent · MN 28%

renter households

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Martin County, MN): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

Next door

Jay vs. its neighbors

The towns that share a border with Jay. Tap one to see its housing page.

Jay$283K Sherburn$239K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
Jay	$283K*	−2.7%†	$1,120	$125,000
Sherburn	$239K	+6%	$1,070	$59,777
Elm Creek	—	−2.7%†	$1,060	$121,250
Manyaska	—	−2.7%†	$1,030	$81,250
Wisconsin	—	−2.9%†	$1,070	$58,750

Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.

Neighbors talk housing

What Jay buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Jay still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.