A typical Pequot Lakes home is worth about $350,000
Up 3.7% in a year, close to the Minnesota typical home. Homes typically sell in 50 days, below asking.
What kind of housing town is Pequot Lakes?
Read from the numbers below. The page puts what stands out first.
16 new homes permitted in 2025
Builders were permitted 16 new homes in Pequot Lakes in 2025, all single-family houses, worth about $5.4 million to build. That's 7.7 per 1,000 residents, faster than across Minnesota (3.8). Over the past 10 years, Pequot Lakes has permitted 145 homes in all.
Between the 2010 and 2020 censuses, Pequot Lakes gained 233 residents while 140 new homes were permitted: about 1.7 new residents per new home. Building and growth moved roughly in step. Across Minnesota: 2.2 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 87 | 5 | 82 | $13.8 million |
| 2025 | 16 | 16 | 0 | $5.4 million |
| 2024 | 18 | 18 | 0 | $5.7 million |
| 2023 | 16 | 16 | 0 | $4.9 million |
| 2022 | 25 | 13 | 12 | $6.1 million |
| 2021 | 13 | 13 | 0 | $2.8 million |
| 2020 | 12 | 12 | 0 | $1.5 million |
| 2019 | 11 | 11 | 0 | $1.6 million |
| 2018 | 6 | 6 | 0 | $833,000 |
| 2017 | 8 | 8 | 0 | $1.2 million |
| 2016 | 20 | 20 | 0 | $2.7 million |
| 2015 | 17 | 17 | 0 | $2.1 million |
| 2014 | 11 | 11 | 0 | $1.1 million |
| 2013 | 12 | 12 | 0 | $1.3 million |
| 2012 | 45 | 5 | 40 | $4 million |
| 2011 | 6 | 6 | 0 | $658,000 |
| 2010 | 4 | 4 | 0 | $428,000 |
| 2009 | 3 | 3 | 0 | $345,000 |
| 2008 | 7 | 7 | 0 | $737,000 |
| 2007 | 15 | 15 | 0 | $1.6 million |
| 2006 | 16 | 16 | 0 | $1.6 million |
| 2005 | 31 | 31 | 0 | $3.1 million |
| 2004 | 29 | 25 | 4 | $3.5 million |
| 2003 | 33 | 29 | 4 | $4 million |
| 2002 | 7 | 5 | 2 | $719,000 |
| 2001 | 6 | 4 | 2 | $600,000 |
| 2000 | 3 | 3 | 0 | $217,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
1 of Pequot Lakes’s houses are on the National Register
Half of Pequot Lakes’s homes were built before 1992.
Minnesota: 72% own.
U.S. Census Bureau, American Community Survey 2020-2024. Historic houses: National Register of Historic Places.
Up 30.6% in five years
Faster than Minnesota (14.1%).
Show as a table
| January | Pequot Lakes | Minnesota |
|---|---|---|
| 2017 | $202,000 | $217,000 |
| 2018 | $206,000 | $232,000 |
| 2019 | $210,000 | $246,000 |
| 2020 | $220,000 | $259,000 |
| 2021 | $241,000 | $282,000 |
| 2022 | $286,000 | $313,000 |
| 2023 | $311,000 | $325,000 |
| 2024 | $319,000 | $331,000 |
| 2025 | $333,000 | $341,000 |
| 2026 | $343,000 | $349,000 |
| August 2026 | $350,000 | $351,000 |
A typical Pequot Lakes home worth $200K in September 2016 is worth about $350K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through August 2026.
A seller's market
Supply is tight — about 3.9 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Under ~4 months of supply favors sellers; over ~6 favors buyers.
Redfin Data Center, all residential sales, May 2026.
A typical home costs 5.5 years of income
More than across Minnesota (3.9 years). Try your own numbers below.
That’s $99K short of a typical Pequot Lakes home.
A two-bedroom rents for about $990 a month here, $1,090 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Pequot Lakes’s typical property tax (0.84% 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 $990
Renters already here pay a median of $847, 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 (Cass County, MN): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Pequot Lakes vs. its neighbors
Pequot Lakes is the 2nd least expensive of 7 neighboring towns. Tap one to see its housing page.
Compare more
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 Pequot Lakes buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
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. Historic houses: National Register of Historic Places. Listings link to their publishers. The calculator is an estimate, not a loan offer.