Tower, MN housing market
The typical Tower home is worth about $359,000, up 8.6% in a year, close to the Minnesota typical home.
Home values, sales, trends and how Tower compares with the towns next door — updated as new data is published.
Tower at a glance
Typical home value, 2016–2026
Show as a table
| January | Tower | Minnesota |
|---|---|---|
| 2017 | $192,000 | $217,000 |
| 2018 | $198,000 | $232,000 |
| 2019 | $204,000 | $246,000 |
| 2020 | $215,000 | $259,000 |
| 2021 | $242,000 | $282,000 |
| 2022 | $273,000 | $313,000 |
| 2023 | $298,000 | $325,000 |
| 2024 | $317,000 | $331,000 |
| 2025 | $328,000 | $341,000 |
| 2026 | $342,000 | $349,000 |
| August 2026 | $359,000 | $351,000 |
No new homes permitted in 2025
No permits for new homes were issued in Tower in 2025. The last year with any was 2024 (6 new homes).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Tower's population fell by 70 even though 3 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. 18% of Tower's homes are seasonal or vacation homes, which adds housing without adding residents. 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) | 1 | 1 | 0 | $353,000 |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 6 | 6 | 0 | $2.1 million |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 1 | 1 | 0 | $238,000 |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 1 | 1 | 0 | $150,000 |
| 2010 | 2 | 2 | 0 | $200,000 |
| 2009 | 1 | 1 | 0 | $200,000 |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 1 | 1 | 0 | $160,000 |
| 2006 | 5 | 5 | 0 | $1.7 million |
| 2005 | 3 | 3 | 0 | $450,000 |
| 2004 | 3 | 3 | 0 | $450,000 |
| 2003 | 5 | 5 | 0 | $900,000 |
| 2002 | 1 | 1 | 0 | $117,000 |
| 2001 | 1 | 1 | 0 | $117,000 |
| 2000 | 1 | 1 | 0 | $117,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,030
HUD's Fair Market Rent for a two-bedroom in Tower is $1,030 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Tower pay a median of $586, so moving in tends to cost more than staying put.
Studio $710 · 4 bedrooms $1,730
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55790; Duluth, MN-WI MSA), 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.