Perham, MN housing market
The typical Perham home is worth about $375,000, up 5.8% in a year, 7% above the Minnesota typical home.
Home values, sales, trends and how Perham compares with the towns next door — updated as new data is published.
Perham at a glance
Typical home value, 2016–2026
Show as a table
| January | Perham | Minnesota |
|---|---|---|
| 2017 | $202,000 | $217,000 |
| 2018 | $214,000 | $232,000 |
| 2019 | $229,000 | $246,000 |
| 2020 | $240,000 | $259,000 |
| 2021 | $266,000 | $282,000 |
| 2022 | $299,000 | $313,000 |
| 2023 | $313,000 | $325,000 |
| 2024 | $327,000 | $331,000 |
| 2025 | $349,000 | $341,000 |
| 2026 | $366,000 | $349,000 |
| August 2026 | $375,000 | $351,000 |
3 new homes permitted in 2025
Builders were permitted 3 new homes in Perham in 2025, all single-family houses. That's 2.7 per 1,000 residents, slower than across Minnesota (3.8). Over the past 10 years, Perham has permitted 57 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Perham gained 150 residents while 48 new homes were permitted: about 3.1 new residents per new home. Building and growth moved roughly in step. Across Minnesota: 2.2 new residents per new home.
How Perham 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) | 2 | 2 | 0 | $494,000 |
| 2025 | 3 | 3 | 0 | $741,000 |
| 2024 | 4 | 4 | 0 | $988,000 |
| 2023 | 6 | 6 | 0 | $1.8 million |
| 2022 | 6 | 6 | 0 | $1.7 million |
| 2021 | 8 | 8 | 0 | $2.7 million |
| 2020 | 14 | 14 | 0 | $2.7 million |
| 2019 | 5 | 5 | 0 | $838,000 |
| 2018 | 6 | 6 | 0 | $1.3 million |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 5 | 5 | 0 | $421,000 |
| 2015 | 6 | 6 | 0 | $506,000 |
| 2014 | 3 | 3 | 0 | $443,000 |
| 2013 | 7 | 7 | 0 | $1.1 million |
| 2012 | 7 | 7 | 0 | $1.1 million |
| 2011 | 6 | 6 | 0 | $914,000 |
| 2010 | 3 | 3 | 0 | $563,000 |
| 2009 | 4 | 4 | 0 | $418,000 |
| 2008 | 2 | 2 | 0 | $98,000 |
| 2007 | 5 | 5 | 0 | $515,000 |
| 2006 | 3 | 3 | 0 | $357,000 |
| 2005 | 4 | 4 | 0 | $663,000 |
| 2004 | 4 | 4 | 0 | $422,000 |
| 2003 | 0 | 0 | 0 | — |
| 2002 | 3 | 3 | 0 | $256,000 |
| 2001 | 3 | 3 | 0 | $256,000 |
| 2000 | 3 | 3 | 0 | $256,000 |
Perham's permit office reported 4 of 12 months in 2025; the Census estimated the rest.
How Perham 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.
Perham and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Perham | $375K | +5.8% | $970 | 3 | $103,558 |
| Edna | — | +6.6%† | $1,160 | — | $121,071 |
| Pine Lake | — | +5.7%† | $970 | — | $94,792 |
| Gorman | — | +6%† | $970 | — | $103,750 |
| Rush Lake | — | — | $1,050 | 6 | $75,000 |
† FHFA price index change, where Zillow has no home value for the town.
3.6 years of income
The typical Perham home costs about 3.6 years of the town's median household income, less than across Minnesota (3.9 years).
How Perham 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 $970
HUD's Fair Market Rent for a two-bedroom in Perham is $970 a month, utilities included: roughly what a modest, recently rented unit costs. A two-bedroom takes about 11% of the town's median household income.
Studio $670 · 4 bedrooms $1,420
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (56573; Otter Tail 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. 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.