McPherson, MN housing market
Home prices around McPherson have risen about 45% over the past 5 years.
Home values, sales, trends and how McPherson compares with the towns next door — updated as new data is published.
Home prices up 45% in 5 years
The federal house price index for the ZIP codes around McPherson rose 45% over the past 5 years, faster than across Minnesota (37%). Last year prices rose 3.3%.
Show as a table
| Year | Change that year | Since 2000 | Minnesota since 2000 |
|---|---|---|---|
| 2025 | +3.3% | +161% | +127% |
| 2024 | +6.7% | +153% | +120% |
| 2023 | +11% | +137% | +113% |
| 2022 | +7.7% | +113% | +104% |
| 2021 | +9.8% | +98% | +82% |
| 2020 | +2.6% | +80% | +66% |
| 2019 | +3.7% | +76% | +61% |
| 2018 | +8.7% | +69% | +55% |
| 2017 | +2.9% | +56% | +46% |
| 2016 | +5.2% | +51% | +38% |
| 2015 | +3.6% | +44% | +32% |
| 2014 | +2.5% | +39% | +28% |
| 2013 | +1.5% | +36% | +21% |
| 2012 | −0.5% | +34% | +16% |
| 2011 | +2.2% | +34% | +18% |
| 2010 | −8.6% | +31% | +25% |
| 2009 | −1.8% | +44% | +33% |
| 2008 | −2.8% | +46% | +42% |
| 2007 | +0.7% | +51% | +48% |
| 2006 | +1.8% | +50% | +49% |
| 2005 | +8.7% | +47% | +45% |
| 2004 | +9.4% | +35% | +34% |
| 2003 | +2.1% | +23% | +23% |
| 2002 | +6% | +21% | +18% |
| 2001 | +14% | +14% | +9.2% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 56048, 56078, 56001, covering 79% of McPherson’s land, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
McPherson and its neighbors
| Town | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|
| McPherson | +3.3%† | $1,190 | $108,333 |
| Le Ray | +8.9%† | $1,360 | $91,250 |
| Decoria | +3.6%† | $1,240 | $124,063 |
| Alton | +2.2%† | $1,060 | $108,750 |
† FHFA price index change, where Zillow has no home value for the town.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,190
HUD's Fair Market Rent for a two-bedroom in McPherson is $1,190 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in McPherson pay a median of $883, so moving in tends to cost more than staying put.
Studio $970 · 4 bedrooms $1,970
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (56001, 56048, 56078; Mankato, MN MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
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.