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City · 14,181 residents · Otter Tail County, Minnesota

Fergus Falls , Minnesota

In Fergus Falls, a typical home is worth $194,000 and typical rent is $911 a month. Compared with all of Otter Tail County, the typical home value is 29% lower, typical household income is 22% lower, and the share of households that own their home is 15 points lower.

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  • Typical home value

    $194,000

    29% below the county

    41% below Minnesota

    • Fergus Falls
    • Otter Tail
    • Minnesota

  • Typical rent

    $911a month

    5% above the county

    29% below Minnesota

    • Fergus Falls
    • Otter Tail
    • Minnesota

  • Typical household income

    $56,162a year

    22% below the county

    37% below Minnesota

    • Fergus Falls
    • Otter Tail
    • Minnesota

  • Households that own their home

    64%

    15 points below the county

    8 points below Minnesota

    • Fergus Falls
    • Otter Tail
    • Minnesota

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$204,651
3.5% more than 12 months ago
Typical rent
$909 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Fergus Falls is in Otter Tail County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Otter Tail County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Fergus Falls apart

What this place has that others do not, from public data, most unusual first.

  1. Fergus Falls has the 8th lowest typical household income of the 152 cities in Minnesota with more than 5,000 people ($56,162).

  2. 64% of households in Fergus Falls own their home, against 79% in Otter Tail County.

  3. The typical home in Fergus Falls is worth $194,000, 29% less than in Otter Tail County as a whole ($273,000).

  4. Nearby, in Little Falls, the typical rent is $747: 18% less than in Fergus Falls ($911).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Fergus Falls

What homes there are in Fergus Falls, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Fergus Falls, but it weighs less than in Otter Tail County: 60% against 81%.

Year built

In Fergus Falls, half of the homes were built before 1975; in Otter Tail County, before 1979.

There are fewer big homes in Fergus Falls than in Otter Tail County: 55% have 3 bedrooms or more, against 65%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

With an FHA limit of $541,287, at least 97% of owner-occupied homes in Fergus Falls sit below it: they are worth less than $500,000.

Monthly rent with utilities

About 65% of rented homes in Fergus Falls cost less than HUD's 2-bedroom fair market rent for Otter Tail County ($1,071); the rest cost more.

With a mortgage

$1,260 a month

Otter Tail County: $1,594 a month

Without a mortgage

$548 a month

Otter Tail County: $579 a month

Owners with a mortgage

52%

Otter Tail County: 53%

In Fergus Falls, 52% of owners have a mortgage, and their typical cost is $1,260 a month, against $1,594 in Otter Tail County. Without one it drops to $548.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Fergus Falls rose 47% since 2015–2019, about the same as in Otter Tail County (44%).

The typical rent in Fergus Falls rose 40% over the same time; in Otter Tail County, it rose 28%.

Housing prices ran ahead of income in Fergus Falls: typical income rose 29%, against +47% for home values and +40% for rent.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureFergus FallsOtter Tail CountyMinnesotaUnited States
Rental vacancy Unreliable estimateUnreliable estimate5.3%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.6%0.9%
More than one person per room Unreliable estimate1.7%2.3%3.4%
People per household 2.072.352.432.53
Drive alone 74%75%69%69%
Carpool 10%9%8%9%
Public transit Unreliable estimateUnreliable estimate2%3%
Walk or bike Unreliable estimate3%3%3%
Work from home 7%10%18%15%
Other means Unreliable estimate1%1%2%
Typical commute Unreliable estimate10 to 19 minutes20 to 29 minutes20 to 29 minutes

Households in Fergus Falls are smaller: 2.07 people on average; in Otter Tail County, 2.35.

In Fergus Falls, 74% of workers drive alone to work; in Otter Tail County, 75%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Fergus Falls?

A typical home is tight for the typical income

We start with a typical home in Fergus Falls, worth $194,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 34% of the typical household income in Fergus Falls, which is $56,162 a year. For that payment to be 28% of income, a household would need to earn about $68,681 a year.

The calculator's FHA and conventional loan limits are those of all of Otter Tail County.

Your numbers

Local data
$

Starts at the typical home value in Fergus Falls. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $6,790 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,603

at 7.18% · 30 years

Loan amount
$190,486
Total interest
$274,065
Paid off in
November 2056

Includes $3,276 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,310 a month

  • Tight

    $1,310 to $1,685 a month

    Your payment · 34%

  • Hard

    more than $1,685 a month

Compared with the typical household income in Fergus Falls ($56,162 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,603
Principal & interest$1,290
Property tax$146
Home insurance$81
FHA mortgage insurance (MIP)$86

You need at least $6,790 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Fergus Falls and Otter Tail County

Fergus Falls is in Otter Tail County, Minnesota. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Fergus Falls's own numbers

Typical home value
$194,000
Typical monthly rent
$911
Typical yearly household income
$56,162
Households that own their home
64%
Effective property tax rate
0.9%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Otter Tail County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,071
Price change over 5 years (FHFA)
+48%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Otter Tail County.

Everything about Otter Tail County

Buying

Buying a home in Fergus Falls

A typical home in Fergus Falls is worth $194,000: 29% below the county and 41% below Minnesota. With the typical household income in Fergus Falls ($56,162 a year), a typical home costs 3.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Fergus Falls 3.5 years
  • Otter Tail 3.8 years
  • Minnesota 3.7 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Otter Tail County

According to FHFA’s house price index, home prices in Otter Tail County rose 79% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Otter Tail County.

Period County Minnesota U.S.
Last year (2025) +1.1% +2.8% +2.9%
5 years (2020–2025) +48% +37% +47%
10 years (2015–2025) +79% +71% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Fergus Falls next to Otter Tail County, Minnesota and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Fergus Falls $194,000
  • Otter Tail $273,000
  • Minnesota $329,300
  • United States $332,700
Typical monthly rent
  • Fergus Falls $911
  • Otter Tail $868
  • Minnesota $1,280
  • United States $1,413
Typical yearly household income
  • Fergus Falls $56,162
  • Otter Tail $72,255
  • Minnesota $89,062
  • United States $80,734
See the full table
Fergus Falls next to Otter Tail County and Minnesota
Measure Fergus Falls Otter Tail County Minnesota U.S.
Typical home value $194,000 $273,000 $329,300 $332,700
Typical monthly rent $911 $868 $1,280 $1,413
Typical yearly household income $56,162 $72,255 $89,062 $80,734
Households that own their home 64% 79% 72% 65%
Typical yearly property tax $1,754 $2,093 $3,357 $3,119
Effective property tax rate 0.9% 0.77% 1.02% 0.94%
Renters with high rent for their income 46% 43% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Otter Tail County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Fergus Falls

For a typical $194,000 home in Fergus Falls, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Fergus Falls's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,603a month

    Least cash to close
    Down payment
    $6,790
    Cash to close
    $12,610
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $86

  • Conventional, 5% down $1,567a month

    Down payment
    $9,700
    Cash to close
    $15,520
    Rate
    7.18%
    Mortgage insurance
    PMI · $92

  • Conventional, 20% down, no PMI $1,278a month

    Down payment
    $38,800
    Cash to close
    $44,620
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,457a month

    Down payment
    $29,100
    Cash to close
    $34,920
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Fergus Falls and for Otter Tail County.

Property tax

Effective rate in Fergus Falls

0.9%of the home’s value each year

$1,754 a year for the typical owner in Fergus Falls.

  • Fergus Falls 0.9%
  • Otter Tail 0.77%
  • Minnesota 1.02%

What Minnesota publishes Homestead market value exclusion (Minnesota Office of the Revisor of Statutes (Minnesota Statutes))

Exemptions and deadlines in Minnesota

Flood risk in Otter Tail County

FEMA does not publish these numbers by city: they are for all of Otter Tail County.

FEMA’s maps count no homes in the high-risk zone in Otter Tail County. That does not mean it cannot flood: check your address.

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Fergus Falls

Typical rent in Fergus Falls is $911 a month: 5% above the county. In Fergus Falls, 46% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Otter Tail County, by unit size. To pay the 2-bedroom one ($1,071 a month) without spending more than 30% of your income, you would need to earn $20.60 an hour working full time.

HUD fair market rent for all of Otter Tail County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $746 $14.35 $29,840
1 bedroom $819 $15.75 $32,760
2 bedrooms $1,071 $20.60 $42,840
3 bedrooms $1,476 $28.38 $59,040
4 bedrooms $1,489 $28.63 $59,560

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Fergus Falls

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Fergus Falls is in ZIP code 56537.

For 2 bedrooms it is $1,090: $19 more than the fair market rent for Otter Tail County ($1,071).

  • 56537 $1,090$1,500

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Fergus Falls when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Fergus Falls

HUD lists 7 buildings with rents for lower incomes in Fergus Falls. These are the largest.

  • River Bend Apartments 222 N Whitford St, Fergus Falls 56537 100 low-income homes · For older adults (218) 736-2557
  • Riverview Heights Highrise 205 N Sheridan St, Fergus Falls 56537 68 homes, 67 low-income · Run by HRA of FERGUS FALLS, MINNESOTA · Average payment: $425 a month · Average wait: 6 months (218) 739-3249
  • Cardinal Homes 1016 Springen Ave, Fergus Falls 56537 61 low-income homes · For families (218) 739-9506
  • Augustana Apartments 308 S Mill St, Fergus Falls 56537 41 low-income homes · For older adults (218) 739-9506
  • Cascade Apartments 1325 S Cascade St, Fergus Falls 56537 36 low-income homes · For families (218) 736-6560

See all 21 buildings in Otter Tail County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Fergus Falls

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Otter Tail County. The nearest ones are below; many serve by phone or online.

An older man and his daughter go over papers with a professional.

HUD counseling is free or low-cost

Assistance programs in Fergus Falls

No down payment, repair or rent-help program on our list is for Fergus Falls or Otter Tail County. The ones below are statewide in Minnesota: they work in Fergus Falls the same as in the rest of the state.

Which programs do I qualify for? All programs in Minnesota

  • Deferred Payment Loan (Start Up)

    Statewide in Minnesota

    Minnesota state agency loan for the down payment and closing costs alongside the Start Up mortgage for first-time buyers: up to $14,000 (or $18,000 in the Plus version), with no interest or monthly payments, repaid at the end of the mortgage. Offered by Minnesota Housing (Minnesota Housing Finance Agency).

    Deferred

    See the program Official page

  • Monthly Payment Loan

    Statewide in Minnesota

    Minnesota Housing loan of up to $14,000 for the down payment and closing costs, which you repay over 15 years at the same rate as your Minnesota Housing mortgage; it works with Start Up (first-time buyers) or Step Up. Offered by Minnesota Housing (Minnesota Housing Finance Agency).

    Repayable

    See the program Official page

Housing counselors near Fergus Falls

The HUD-approved agencies closest to the center of Fergus Falls, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • White Earth Investment Initiative

    103 Graystone Plz, Detroit Lakes · 38 miles away

    • Home improvement and repairs
    • Pre-purchase counseling
    • and 2 more
    (218) 844-7029

  • Lutheran Social Service of Minnesota

    716 E Street, Brainerd · 91 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 1 more
    (888) 577-2227

  • Lutheran Social Service of Minnesota

    1601 Hwy 12 E, Willmar · 95 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 1 more
    (888) 577-2227

All counseling agencies in Minnesota

Help in Spanish near Fergus Falls

None of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Fergus Falls

HUD’s record names them for Fergus Falls or Otter Tail County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • HRA of FERGUS FALLS, MINNESOTA Public housing and Section 8 vouchers (218) 739-3249
  • Otter Tail County Hra Public housing and Section 8 vouchers (218) 998-8050

2 other authorities have an office in Otter Tail County: see the list Source: HUD

Cities

Nearby cities

The cities closest to Fergus Falls, with the typical home value.

Everything about Otter Tail County Housing in Minnesota

Neighboring counties

If Otter Tail County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Fergus Falls.

All guides
A family walks a boardwalk trail in the forest; one of them uses a wheelchair.

Questions

Housing questions about Fergus Falls

Short answers with the numbers for Fergus Falls and all of Otter Tail County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Fergus Falls?

The typical home value in Fergus Falls is $194,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Otter Tail County it is $273,000.

How much does it cost to rent in Fergus Falls?

Typical rent in Fergus Falls is $911 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Otter Tail County is $1,071.

What is the FHA loan limit in Fergus Falls?

Fergus Falls uses the FHA limit for all of Otter Tail County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Fergus Falls?

The typical homeowner in Fergus Falls pays $1,754 a year, according to the U.S. Census Bureau. That is 0.9% of the home’s value; in Otter Tail County, the rate is 0.77%.

Where can I find free help to buy or rent in Fergus Falls?

We found no HUD-approved counseling agencies with an office in Otter Tail County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).