Montrose, MN housing market
The typical Montrose home is worth about $324,000, up 1% in a year, 8% below the Minnesota typical home. Homes typically sell in 27 days, close to asking.
Home values, sales, trends and how Montrose compares with the towns next door — updated as new data is published.
Montrose at a glance
A seller's market
Supply is tight — about 2.5 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Montrose | Minnesota |
|---|---|---|
| 2017 | $189,000 | $217,000 |
| 2018 | $205,000 | $232,000 |
| 2019 | $221,000 | $246,000 |
| 2020 | $229,000 | $259,000 |
| 2021 | $251,000 | $282,000 |
| 2022 | $291,000 | $313,000 |
| 2023 | $299,000 | $325,000 |
| 2024 | $304,000 | $331,000 |
| 2025 | $313,000 | $341,000 |
| 2026 | $322,000 | $349,000 |
| August 2026 | $324,000 | $351,000 |
31 new homes permitted in 2025
Builders were permitted 31 new homes in Montrose in 2025: 13 single-family houses and 18 in buildings with two or more homes, worth about $5 million to build. That's 8 per 1,000 residents, faster than across Minnesota (3.8). Over the past 10 years, Montrose has permitted 229 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Montrose gained 928 residents while 197 new homes were permitted: about 4.7 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across Minnesota: 2.2 new residents per new home.
How Montrose ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 5 | 5 | 0 | $506,000 |
| 2025 | 31 | 13 | 18 | $5 million |
| 2024 | 25 | 9 | 16 | $6.6 million |
| 2023 | 3 | 3 | 0 | $936,000 |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 40 | 40 | 0 | $8 million |
| 2020 | 23 | 23 | 0 | $5.1 million |
| 2019 | 30 | 30 | 0 | $6.7 million |
| 2018 | 32 | 32 | 0 | $7 million |
| 2017 | 39 | 39 | 0 | $8.1 million |
| 2016 | 6 | 6 | 0 | $1.4 million |
| 2015 | 11 | 11 | 0 | $2.2 million |
| 2014 | 15 | 15 | 0 | $3 million |
| 2013 | 13 | 13 | 0 | $2.3 million |
| 2012 | 20 | 20 | 0 | $3 million |
| 2011 | 14 | 14 | 0 | $2.1 million |
| 2010 | 17 | 17 | 0 | $3 million |
| 2009 | 23 | 23 | 0 | $4.4 million |
| 2008 | 23 | 23 | 0 | $4 million |
| 2007 | 30 | 30 | 0 | $5.4 million |
| 2006 | 61 | 61 | 0 | $10.5 million |
| 2005 | 126 | 126 | 0 | $21.6 million |
| 2004 | 123 | 123 | 0 | $20 million |
| 2003 | 108 | 108 | 0 | $15.2 million |
| 2002 | 130 | 130 | 0 | $16.5 million |
| 2001 | 101 | 101 | 0 | $11.5 million |
| 2000 | 42 | 42 | 0 | $4.1 million |
How Montrose ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Montrose and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Montrose | $324K | +1% | $1,560 | 31 | $102,625 |
| Marysville | — | +3.4%† | $1,530 | — | $97,679 |
| Woodland | — | +3.4%† | $1,540 | — | $96,563 |
| Waverly | $347K | +1.3% | $1,520 | 28 | $112,222 |
† FHFA price index change, where Zillow has no home value for the town.
3.2 years of income
The typical Montrose home costs about 3.2 years of the town's median household income, less than across Minnesota (3.9 years).
How Montrose ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,560
HUD's Fair Market Rent for a two-bedroom in Montrose is $1,560 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Montrose pay a median of $1,474. A two-bedroom takes about 18% of the town's median household income.
Studio $1,130 · 4 bedrooms $2,310
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55363; Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area), 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.
Recent listings in Montrose
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.