Pequot Lakes, MN housing market
The 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.
Home values, sales, trends and how Pequot Lakes compares with the towns next door — updated as new data is published.
Pequot Lakes at a glance
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.
Typical home value, 2016–2026
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 |
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.
Homes vs. people, 2010–2020
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.
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) | 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, through August 2026.
Pequot Lakes and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Pequot Lakes | $350K | +3.7% | $990 | 16 | $63,699 |
| Jenkins | — | +4.9%† | $980 | 7 | $74,250 |
| Loon Lake | — | +3.4%† | $990 | — | $75,313 |
| Nisswa | $587K | +3.8% | $1,170 | 52 | $100,000 |
| Pelican | — | +2.8%† | $1,000 | — | $69,250 |
| Breezy Point | $409K | +3% | $990 | 21 | $85,938 |
| Ideal | — | +4.4%† | $990 | — | $108,355 |
† FHFA price index change, where Zillow has no home value for the town.
5.5 years of income
The typical Pequot Lakes home costs about 5.5 years of the town's median household income, more than across Minnesota (3.9 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $990
HUD's Fair Market Rent for a two-bedroom in Pequot Lakes is $990 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Pequot Lakes pay a median of $847, so moving in tends to cost more than staying put. A two-bedroom takes about 19% of the town's median household income.
Studio $690 · 4 bedrooms $1,430
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (56472; Cass County, MN), 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, 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.