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City · 8,823 residents · Pennington County, Minnesota

Thief River Falls , Minnesota

In Thief River Falls, a typical home is worth $175,400 and typical rent is $838 a month. Compared with all of Pennington County, the typical home value is 10% lower, typical household income is 8% lower, and the share of households that own their home is 8 points lower.

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  • Typical home value

    $175,400

    10% below the county

    47% below Minnesota

    • Thief River Falls
    • Pennington
    • Minnesota

  • Typical rent

    $838a month

    3% below the county

    35% below Minnesota

    • Thief River Falls
    • Pennington
    • Minnesota

  • Typical household income

    $71,144a year

    8% below the county

    20% below Minnesota

    • Thief River Falls
    • Pennington
    • Minnesota

  • Households that own their home

    64%

    8 points below the county

    8 points below Minnesota

    • Thief River Falls
    • Pennington
    • Minnesota

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

Market now, with Zillow data

Zillow data
Typical home value
$186,715
2.4% less than 12 months ago

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

Thief River Falls is in Pennington 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 Pennington County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Thief River Falls apart

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

  1. According to Zillow, in the 12 months to September 2026 the typical home value in Thief River Falls fell 2.4%; in Minnesota, it rose 2.3%.

  2. Thief River Falls has the 9th lowest typical home value of the 152 cities in Minnesota with more than 5,000 people ($175,400).

  3. Thief River Falls has the 9th lowest typical rent of the 148 cities in Minnesota with more than 5,000 people ($838).

  4. Thief River Falls has the 9th smallest share of rent-burdened renters of the 139 cities in Minnesota with more than 5,000 people (36%).

  5. 64% of households in Thief River Falls own their home, against 72% in Pennington County.

Sources: Zillow (September 2026 data); U.S. Census Bureau (Average 2020–2024). Zillow data

The homes here

Housing in Thief River Falls

What homes there are in Thief River 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

In Thief River Falls, 6 in 10 homes are single-family detached houses; in Pennington County, 7.

Year built

By age, homes in Thief River Falls look like those in Pennington County: the typical year built is 1972.

Homes in Thief River Falls are smaller: 50% have 3 bedrooms or more; in Pennington County, 59%.

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

The FHA limit for Pennington County is high ($541,287): at least 98% of owner-occupied homes in Thief River Falls are worth less than $500,000.

Monthly rent with utilities

About 73% of rented homes in Thief River Falls cost less than HUD's 2-bedroom fair market rent for Pennington County ($1,142).

With a mortgage

$1,383 a month

Pennington County: $1,458 a month

Without a mortgage

$619 a month

Pennington County: $649 a month

Owners with a mortgage

65%

Pennington County: 59%

The typical cost for an owner with a mortgage in Thief River Falls is $1,383 a month, less than in Pennington County ($1,458); without one, $619.

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 Thief River Falls rose 29% since 2015–2019, more than in Pennington County (26%).

The typical rent in Thief River Falls rose 21% over the same time; in Pennington County, it rose 24%.

The typical household income in Thief River Falls rose 43%: more than home values (+29%) and rent (+21%).

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

MeasureThief River FallsPennington 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 estimateUnreliable estimate2.3%3.4%
People per household 2.032.172.432.53
Drive alone 75%75%69%69%
Carpool 10%9%8%9%
Public transit Unreliable estimateUnreliable estimate2%3%
Walk or bike 3%2%3%3%
Work from home 8%10%18%15%
Other means Unreliable estimate3%1%2%
Typical commute under 10 minutesUnreliable estimate20 to 29 minutes20 to 29 minutes

Households in Thief River Falls are smaller: 2.03 people on average; in Pennington County, 2.17.

In Thief River Falls, 75% of workers drive alone to work; in Pennington 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 Thief River Falls?

A typical home is within reach of the typical income

We start with a typical home in Thief River Falls, worth $175,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 26% of the typical household income in Thief River Falls, which is $71,144 a year.

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

Your numbers

Local data
$

Starts at the typical home value in Thief River 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 $6,139 (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

$1,522

at 7.18% · 30 years

Loan amount
$172,223
Total interest
$247,789
Paid off in
November 2056

Includes $2,962 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,660 a month

    Your payment · 26%

  • Tight

    $1,660 to $2,134 a month

  • Hard

    more than $2,134 a month

Compared with the typical household income in Thief River Falls ($71,144 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,522
Principal & interest$1,167
Property tax$205
Home insurance$73
FHA mortgage insurance (MIP)$78

You need at least $6,139 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

Thief River Falls and Pennington County

Thief River Falls is in Pennington 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).

Thief River Falls's own numbers

Typical home value
$175,400
Typical monthly rent
$838
Typical yearly household income
$71,144
Households that own their home
64%
Effective property tax rate
1.4%

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

Numbers for all of Pennington County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,142
Price change over 5 years (FHFA)
+17%

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 Pennington County.

Everything about Pennington County

Buying

Buying a home in Thief River Falls

A typical home in Thief River Falls is worth $175,400: 10% below the county and 47% below Minnesota. With the typical household income in Thief River Falls ($71,144 a year), a typical home costs 2.5 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.

  • Thief River Falls 2.5 years
  • Pennington 2.5 years
  • Minnesota 3.7 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Pennington County

According to FHFA’s house price index, home prices in Pennington County rose 33% in the 10 years through 2025.

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

Period County Minnesota U.S.
Last year (2025) −1.1% +2.8% +2.9%
5 years (2020–2025) +17% +37% +47%
10 years (2015–2025) +33% +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

Thief River Falls next to Pennington 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
  • Thief River Falls $175,400
  • Pennington $195,500
  • Minnesota $329,300
  • United States $332,700
Typical monthly rent
  • Thief River Falls $838
  • Pennington $862
  • Minnesota $1,280
  • United States $1,413
Typical yearly household income
  • Thief River Falls $71,144
  • Pennington $77,325
  • Minnesota $89,062
  • United States $80,734
See the full table
Thief River Falls next to Pennington County and Minnesota
Measure Thief River Falls Pennington County Minnesota U.S.
Typical home value $175,400 $195,500 $329,300 $332,700
Typical monthly rent $838 $862 $1,280 $1,413
Typical yearly household income $71,144 $77,325 $89,062 $80,734
Households that own their home 64% 72% 72% 65%
Typical yearly property tax $2,456 $2,458 $3,357 $3,119
Effective property tax rate 1.4% 1.26% 1.02% 0.94%
Renters with high rent for their income 36% 35% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Pennington 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 Thief River Falls

For a typical $175,400 home in Thief River Falls, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Thief River Falls's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,522a month

    Least cash to close
    Down payment
    $6,139
    Cash to close
    $11,401
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $78

  • Conventional, 5% down $1,490a month

    Down payment
    $8,770
    Cash to close
    $14,032
    Rate
    7.18%
    Mortgage insurance
    PMI · $83

  • Conventional, 20% down, no PMI $1,228a month

    Down payment
    $35,080
    Cash to close
    $40,342
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,390a month

    Down payment
    $26,310
    Cash to close
    $31,572
    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 Thief River Falls and for Pennington County.

Property tax

Effective rate in Thief River Falls

1.4%of the home’s value each year

$2,456 a year for the typical owner in Thief River Falls.

  • Thief River Falls 1.4%
  • Pennington 1.26%
  • 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 Pennington County

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

FEMA’s maps count no homes in the high-risk zone in Pennington 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 Thief River Falls

Typical rent in Thief River Falls is $838 a month: 3% below the county. In Thief River Falls, 36% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Pennington County, by unit size. To pay the 2-bedroom one ($1,142 a month) without spending more than 30% of your income, you would need to earn $21.96 an hour working full time.

HUD fair market rent for all of Pennington 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 $795 $15.29 $31,800
1 bedroom $873 $16.79 $34,920
2 bedrooms $1,142 $21.96 $45,680
3 bedrooms $1,564 $30.08 $62,560
4 bedrooms $1,668 $32.08 $66,720

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 Thief River Falls

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Thief River Falls is in ZIP code 56701.

For 2 bedrooms it is $1,140: $2 less than the fair market rent for Pennington County ($1,142).

  • 56701 $1,140$1,560

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Thief River 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 Thief River Falls

HUD lists 8 buildings with rents for lower incomes in Thief River Falls. These are the largest.

  • Northland Village Multiple Building Addresses, Thief River Falls 56701 87 homes, 86 low-income · Studio: 10 · 1 bd: 13 · 2 bd: 42 · 3 bd: 22 · In service since 2002
  • Thief River Falls Hra 415 Arnold Ave S, Thief River Falls 56701 76 low-income homes · Run by Thief River Falls Housing & Redevelopment Aut · Average payment: $450 a month · Average wait: 4 months (218) 681-5995
  • Riverside Terrace 225 Labree Ave S, Thief River Falls 56701 66 low-income homes · 1 bd: 66 · In service since 2012 · For older adults (218) 681-7657
  • Greenwood Terrace 2001 Greenwood St E, Thief River Falls 56701 26 homes, 25 low-income · 1 bd: 25 · 2 bd: 1 · In service since 2015 · For older adults, people with disabilities
  • Pioneer Court 1602 Greenwood St E, Thief River Falls 56701 24 low-income homes · In service since 1995

See all 8 buildings in Pennington County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Thief River 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 Pennington County. The nearest ones are below; many serve by phone or online.

A pregnant woman reads paperwork on the sofa while the grandmother plays with the girl on the floor.

HUD counseling is free or low-cost

Assistance programs in Thief River Falls

No down payment, repair or rent-help program on our list is for Thief River Falls or Pennington County. The ones below are statewide in Minnesota: they work in Thief River 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 Thief River Falls

The HUD-approved agencies closest to the center of Thief River 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 · 91 miles away

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

  • Kootasca Community Action, Inc.

    822 NE 5th Ave, Grand Rapids · 137 miles away

    • Pre-purchase counseling
    • Homebuyer education workshops
    218-999-0800x0828

  • Lutheran Social Service of Minnesota

    716 E Street, Brainerd · 153 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 Thief River 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 Thief River Falls

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

  • Thief River Falls Housing & Redevelopment Aut Public housing (218) 681-5995

All housing agencies in Minnesota Source: HUD

Cities

Nearby cities

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

Everything about Pennington County Housing in Minnesota

Neighboring counties

If Pennington 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 Thief River Falls.

All guides
A father smiles as he carries his baby on his shoulders outdoors.

Questions

Housing questions about Thief River Falls

Short answers with the numbers for Thief River Falls and all of Pennington 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 Thief River Falls?

The typical home value in Thief River Falls is $175,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Pennington County it is $195,500.

How much does it cost to rent in Thief River Falls?

Typical rent in Thief River Falls is $838 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Pennington County is $1,142.

What is the FHA loan limit in Thief River Falls?

Thief River Falls uses the FHA limit for all of Pennington 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 Thief River Falls?

The typical homeowner in Thief River Falls pays $2,456 a year, according to the U.S. Census Bureau. That is 1.4% of the home’s value; in Pennington County, the rate is 1.26%.

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

We found no HUD-approved counseling agencies with an office in Pennington 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).