In Northfield, a typical home is worth $329,400 and typical rent is $1,103 a month. Compared with all of Rice County, the share of households that own their home is 7 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $334,350 to $392,602.
Typical rent
$1,739a month
Typical rent from Zillow, December 2025 to September 2026: from $1,790 to $1,739.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Northfield is in Rice 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 Rice County. See the county
What this place has that others do not, from public data, most unusual first.
1
Nearby, in Faribault, the typical home value is $241,500: 27% less than in Northfield ($329,400).
2
Northfield has the 8th smallest share of rent-burdened renters of the 139 cities in Minnesota with more than 5,000 people (36%).
3
69% of households in Northfield own their home, against 76% in Rice County.
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Northfield
What homes there are in Northfield, 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
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Northfield
Rice County
Minnesota
United States
Kind of home: Northfield and its comparisons
Measure
Northfield
Rice County
Minnesota
United States
Detached house
52%
71%
66%
61%
Attached house
12%
6%
7%
6%
Building of 2 to 4
7%
5%
4%
8%
Apartments (5 or more)
25%
14%
19%
19%
Mobile home
Unreliable estimate
4%
3%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
Detached houses are the majority in Northfield (52%), but less so than in Rice County (71%).
Year built
Before 19601960–19791980–19992000–20092010 or later
Northfield
Rice County
Minnesota
United States
Year built: Northfield and its comparisons
Measure
Northfield
Rice County
Minnesota
United States
Before 1960
24%
30%
29%
26%
1960–1979
20%
23%
23%
24%
1980–1999
24%
20%
24%
25%
2000–2009
22%
18%
13%
14%
2010 or later
11%
9%
10%
11%
Homes in Northfield are newer: the typical year built is 1986; in Rice County, 1978.
There are fewer big homes in Northfield than in Rice County: 58% have 3 bedrooms or more, against 65%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K7%
$100K–$200K10%
$200K–$300K26%
$300K–$500K38%
$500K–$750K18%
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Northfield and its comparisons
Measure
Northfield
Under $100K
7%
$100K–$200K
10%
$200K–$300K
26%
$300K–$500K
38%
$500K–$750K
18%
$750K–$1M
Unreliable estimate
$1M or more
Unreliable
About 84% of owner-occupied homes in Northfield are worth less than the FHA loan limit for Rice County ($541,287).
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $5007%
$500–$99934%
$1,000–$1,49939%
HUD fair market rent, 2 bedrooms: $1,226
$1,500–$1,99910%
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Northfield and its comparisons
Measure
Northfield
Under $500
7%
$500–$999
34%
$1,000–$1,499
39%
$1,500–$1,999
10%
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
About 59% of rented homes in Northfield cost less than HUD's 2-bedroom fair market rent for Rice County ($1,226); the rest cost more.
With a mortgage
$2,182 a month
Rice County: $1,922 a month
Without a mortgage
$811 a month
Rice County: $673 a month
Owners with a mortgage
60%
Rice County: 61%
Owning costs more in Northfield: with a mortgage, the typical cost is $2,182 a month; in Rice County, $1,922. Without one, $811.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Northfield+46%
Rice County+54%
Minnesota+47%
United States+53%
Typical rent
Northfield+34%
Rice County+29%
Minnesota+31%
United States+33%
Typical household income
Northfield+21%
Rice County+21%
Minnesota+25%
United States+29%
Change since 2015–2019: Northfield and its comparisons
Measure
Northfield
Rice County
Minnesota
United States
Typical home value
+46%
+54%
+47%
+53%
Typical rent
+34%
+29%
+31%
+33%
Typical household income
+21%
+21%
+25%
+29%
Homes in Northfield gained value more slowly than in Rice County: 46% since 2015–2019, against 54%.
Since 2015–2019, the typical rent in Northfield rose 34%, more than in Rice County (29%).
The typical household income in Northfield rose 21%: less than home values (+46%) and rent (+34%).
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Northfield and its comparisons
Measure
Northfield
Rice County
Minnesota
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
5.3%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
0.6%
0.9%
More than one person per room
Unreliable estimate
2.6%
2.3%
3.4%
People per household
2.39
2.55
2.43
2.53
Drive alone
55%
68%
69%
69%
Carpool
5%
9%
8%
9%
Public transit
Unreliable estimate
Unreliable estimate
2%
3%
Walk or bike
23%
9%
3%
3%
Work from home
16%
12%
18%
15%
Other means
Unreliable estimate
2%
1%
2%
Typical commute
10 to 19 minutes
10 to 19 minutes
20 to 29 minutes
20 to 29 minutes
On average, a household in Northfield has 2.39 people, fewer than in Rice County (2.55).
Many here get to work on foot or by bike: 23%, more than in Rice County (9%).
Do the math
What would you pay each month for a home in Northfield?
A typical home costs more than the typical income allows
We start with a typical home in Northfield, worth $329,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 40% of the typical household income in Northfield, which is $84,895 a year. For that payment to be 28% of income, a household would need to earn about $122,145 a year.
The calculator's FHA and conventional loan limits are those of all of Rice County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Northfield. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $11,529 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$2,850
at 7.18% · 30 years
Loan amount
$323,434
Total interest
$465,345
Paid off in
November 2056
Includes $5,563 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,981 a month
Tight
$1,981 to $2,547 a month
Hard
more than $2,547 a month
Your payment · 40%
Compared with the typical household income in Northfield ($84,895 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$2,191
Property tax
$376
Home insurance
$137
FHA mortgage insurance (MIP)
$146
You need at least $11,529 for the down payment, plus closing costs.
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.
Total monthly payment $2,850; principal and interest $2,191.
The city and its county
Northfield and Rice County
Northfield is in Rice 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).
Northfield
Map of Rice County, Minnesota, with Northfield marked. Around it, the neighboring counties.
Northfield
Rice County
Other cities with a page
Northfield's own numbers
Typical home value
$329,400
Typical monthly rent
$1,103
Typical yearly household income
$84,895
Households that own their home
69%
Effective property tax rate
1.37%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Rice County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,226
Price change over 5 years (FHFA)
+40%
Homes in a high flood-risk zone
1.1%
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 Rice County.
A typical home in Northfield is worth $329,400: 3% above the county and about the same as Minnesota. With the typical household income in Northfield ($84,895 a year), a typical home costs 3.9 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.
Northfield3.9 years
Rice3.8 years
Minnesota3.7 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Rice County
According to FHFA’s house price index, home prices in Rice County rose 76% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Rice County.
Yearly change in FHFA’s price index in Rice County, 2016 to 2025
2016: +5.6% +5.6% 2016
2017: +6.0% +6.0% 2017
2018: +5.4% +5.4% 2018
2019: +4.1% +4.1% 2019
2020: +2.8% +2.8% 2020
2021: +11.1% +11.1% 2021
2022: +11.3% +11.3% 2022
2023: +6.2% +6.2% 2023
2024: +2.1% +2.1% 2024
2025: +4.3% +4.3% 2025
Change in FHFA’s price index in Rice County, Minnesota and the United States
Period
County
Minnesota
U.S.
Last year (2025)
+4.3%
+2.8%
+2.9%
5 years (2020–2025)
+40%
+37%
+47%
10 years (2015–2025)
+76%
+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
Northfield next to Rice 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
Northfield$329,400
Rice$320,200
Minnesota$329,300
United States$332,700
Typical monthly rent
Northfield$1,103
Rice$1,083
Minnesota$1,280
United States$1,413
Typical yearly household income
Northfield$84,895
Rice$83,181
Minnesota$89,062
United States$80,734
See the full table
Northfield next to Rice County and Minnesota
Measure
Northfield
Rice County
Minnesota
U.S.
Typical home value
$329,400 ▲3% above the county
$320,200
$329,300
$332,700
Typical monthly rent
$1,103
$1,083
$1,280
$1,413
Typical yearly household income
$84,895 ▲2% above the county
$83,181
$89,062
$80,734
Households that own their home
69% ▼7 points below the county
76%
72%
65%
Typical yearly property tax
$4,522 ▲45% above the county
$3,115
$3,357
$3,119
Effective property tax rate
1.37% ▲0.4 points above the county
0.97%
1.02%
0.94%
Renters with high rent for their income
36% ▼9 points below the county
45%
48%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Rice 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 Northfield
For a typical $329,400 home in Northfield, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Northfield's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$2,850a month
Least cash to close
Down payment
$11,529
Cash to close
$21,411
Rate
7.18%
Mortgage insurance
FHA MIP · $146
Conventional, 5% down$2,790a month
Down payment
$16,470
Cash to close
$26,352
Rate
7.18%
Mortgage insurance
PMI · $156
Conventional, 20% down, no PMI$2,298a month
Down payment
$65,880
Cash to close
$75,762
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$2,603a month
Down payment
$49,410
Cash to close
$59,292
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Northfield
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$2,850
$11,529
$323,434
7.18%
FHA MIP · $146
$21,411
580
Conventional, 5% down
$2,790
$16,470
$312,930
7.18%
PMI · $156
$26,352
620*
Conventional, 20% down, no PMI
$2,298
$65,880
$263,520
7.18%
None
$75,762
620*
ITIN, 15% down (example)
$2,603
$49,410
$279,990
8.18%
None
$59,292
Set by the lender
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.
Typical rent in Northfield is $1,103 a month: about the same as the county. In Northfield, 36% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Rice County, by unit size. To pay the 2-bedroom one ($1,226 a month) without spending more than 30% of your income, you would need to earn $23.58 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Rice County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$931
$17.90
$37,240
1 bedroom
$937
$18.02
$37,480
2 bedrooms
$1,226
$23.58
$49,040
3 bedrooms
$1,621
$31.17
$64,840
4 bedrooms
$2,049
$39.40
$81,960
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 Northfield
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Northfield is in ZIP code 55057.
For 2 bedrooms it is $1,540: $314 more than the fair market rent for Rice County ($1,226).
Fair market rent by ZIP code and size in Northfield, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
55057
$1,120
$1,270
$1,540
$2,040
$2,280
ZIP code2 bd3 bd
55057 $1,540$2,040
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Northfield 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 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
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 Rice County. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for Northfield or Rice County. The ones below are statewide in Minnesota: they work in Northfield the same as in the rest of the state.
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).
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).
No legal help resource on our list is for Northfield or Rice County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Northfield and all of Rice 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 Northfield?
The typical home value in Northfield is $329,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Rice County it is $320,200.
How much does it cost to rent in Northfield?
Typical rent in Northfield is $1,103 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Rice County is $1,226.
What is the FHA loan limit in Northfield?
Northfield uses the FHA limit for all of Rice 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 Northfield?
The typical homeowner in Northfield pays $4,522 a year, according to the U.S. Census Bureau. That is 1.37% of the home’s value; in Rice County, the rate is 0.97%.
Where can I find free help to buy or rent in Northfield?
We found no HUD-approved counseling agencies with an office in Rice County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
