A typical Millwood home is worth roughly $388,000
What kind of housing town is Millwood?
Read from the numbers below. The page puts what stands out first.
92% of Millwood households own their home
Half of Millwood’s homes were built before 1983.
Minnesota: 72% own.
U.S. Census Bureau, American Community Survey 2020-2024.
A typical home costs 3.7 years of income
About the same as across Minnesota. Try your own numbers below.
That covers a typical Millwood home, with $18K to spare.
A two-bedroom rents for about $1,110 a month here, $1,190 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Millwood’s typical property tax (0.82% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,110
Renters already here pay a median of $750, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (St. Cloud, MN MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Millwood vs. its neighbors
Millwood is the 2nd priciest of 5 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Millwood | $388K* | — | $1,110 | — | $103,393 |
| Melrose | $232K | +2.2% | $1,140 | — | $97,000 |
| Krain | $365K* | −6.6%† | $1,050 | — | $101,667 |
| Grey Eagle | $376K | +5.7% | $1,020 | — | $94,875 |
| Oak | — | — | $1,100 | — | $89,219 |
| Freeport | $402K | +3.4% | $1,060 | 0 | $89,808 |
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 Millwood buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
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. 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.