Varying Home Costs on the Range

We received an inquiry from folks looking to relocate here from Iowa in the next few years. Yay! In their message, they shared the observation that property pricing on the range varies quite a bit.

As a data geek, I had to dig in.

A review of the 2021 American Community Survey: Median Value of Owner Occupied Housing Units showed across the Range, west to east, the median values were as follow:

Hibbing $111,300
Chisholm $97,500
Buhl $102,700
Mt. Iron $162,600
Virginia $90,200
Eveleth $76,500
Gilbert $95,800
Biwabik $84,800
Aurora $67,600
Hoyt Lakes $67,800

Why these differences? Of course the answer is complex: population, industry, transportation, recreation… We all know the lake properties are wildly popular, as are new builds.

But the cool thing about the Range is the dream of home ownership is still accessible to those of us wanting to keep our housing costs under 33% of our income. Who wants to be house poor? Yes, some of our houses might need some TLC. But as Rangers, we know how to do this–and we can help newbies do it to.

Small town living is still alive and well up here on the Range. I’m glad. And I bet there a lot of folks who are thinking they might want to join us. To them I say: welcome.

  • Essentia Health Jobs
  • Iron Range Tourism Bureau
  • City of Hibbing
  • East Range Joint Powers Board
  • Department of Iron Range Resources & Rehabilitation
  • L&M Radiator
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