A typical Vermillion home is worth roughly $319,000
No new homes were permitted in 2025.
What kind of housing town is Vermillion?
Read from the numbers below. The page puts what stands out first.
91% of Vermillion households own their home
Half of Vermillion’s homes were built before 1973.
Minnesota: 72% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
What it takes to buy in Vermillion
Try your own numbers below.
That covers a typical Vermillion home, with $22K to spare.
A two-bedroom rents for about $1,520 a month here, $430 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the Minnesota typical property tax (1.02% 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 $1,520
Renters already here pay a median of $1,208, 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 (Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
No new homes permitted in 2025
No permits for new homes were issued in Vermillion in 2025. The last year with any was 2019 (1 new home).
Between the 2010 and 2020 censuses, Vermillion gained 22 residents while 2 new homes were permitted: about 11 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.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 1 | 1 | 0 | $400,000 |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 1 | 1 | 0 | $45,000 |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 3 | 3 | 0 | $783,000 |
| 2006 | 0 | 0 | 0 | — |
| 2005 | 0 | 0 | 0 | — |
| 2004 | 0 | 0 | 0 | — |
| 2003 | 1 | 1 | 0 | $160,000 |
| 2002 | 1 | 1 | 0 | $160,000 |
| 2001 | 0 | 0 | 0 | — |
| 2000 | 2 | 2 | 0 | $200,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Neighbors talk housing
What Vermillion buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. 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. The calculator is an estimate, not a loan offer.