House Prices

House Prices & Home Values Pelican Rapids, MN 2026


Average Data

average house price$368,967
average size per house1566 ft²
average price per ft²236 $ / ft²

05/21/2026 - The value range (VR) for house prices in Pelican Rapids, MN is $299/ sqft to $299/ sqft. An average home with 1566 sqft costs approximately $468,234 to $468,234. Pelican Rapids, MN includes 1 ZIP codes and it is located in Otter Tail county. The lowest prices are found in ZIP 56572, while the highest are in ZIP 56572. The average price per sqare feet is $236. Our analysis is based on 3 property listings.

Avergage prices by ZIP codes Pelican Rapids

56572272 $ / ft²




Historical development of home values in Pelican Rapids

Year Estimated value (USD) Change vs. 2025
2010 $171,355 -53.6%
2011 $164,729 -55.4%
2012 $164,285 -55.5%
2013 $170,426 -53.8%
2014 $178,900 -51.5%
2015 $188,082 -49.0%
2016 $197,897 -46.4%
2017 $208,578 -43.5%
2018 $220,110 -40.3%
2019 $230,316 -37.6%
2020 $242,222 -34.4%
2021 $275,502 -25.3%
2022 $321,173 -13.0%
2023 $338,692 -8.2%
2024 $358,286 -2.9%
2025 $368,967 0.0%

Graph: estimated home values in Pelican Rapids over time (USD)



Example: 100% financing house in Pelican Rapids

Loan amount: $368,967

Interest rate: 6.00%

Fixed monthly payment: $2,212.14

Breakdown in the 1st month:
Interest portion: $1,844.84  –  Principal portion: $367.31

Yearly breakdown (100% financing)

Year Interest per year ($) Principal per year ($) Remaining balance at year-end ($)
1 $22,014.77 $4,530.96 $364,436.04
2 $21,735.31 $4,810.42 $359,625.62
3 $21,438.61 $5,107.11 $354,518.51
4 $21,123.61 $5,422.11 $349,096.40
5 $20,789.19 $5,756.53 $343,339.87
6 $20,434.14 $6,111.58 $337,228.29
7 $20,057.19 $6,488.53 $330,739.75
8 $19,656.99 $6,888.73 $323,851.02
9 $19,232.11 $7,313.61 $316,537.41
10 $18,781.02 $7,764.70 $308,772.71
11 $18,302.11 $8,243.61 $300,529.10
12 $17,793.67 $8,752.06 $291,777.04
13 $17,253.86 $9,291.87 $282,485.17
14 $16,680.76 $9,864.97 $272,620.21
15 $16,072.31 $10,473.42 $262,146.79
16 $15,426.33 $11,119.39 $251,027.40
17 $14,740.51 $11,805.21 $239,222.18
18 $14,012.39 $12,533.33 $226,688.85
19 $13,239.36 $13,306.36 $213,382.48
20 $12,418.65 $14,127.07 $199,255.41
21 $11,547.33 $14,998.40 $184,257.01
22 $10,622.26 $15,923.47 $168,333.55
23 $9,640.13 $16,905.59 $151,427.96
24 $8,597.43 $17,948.29 $133,479.67
25 $7,490.42 $19,055.30 $114,424.37
26 $6,315.13 $20,230.59 $94,193.78
27 $5,067.35 $21,478.37 $72,715.41
28 $3,742.62 $22,803.11 $49,912.30
29 $2,336.17 $24,209.55 $25,702.75
30 $842.98 $25,702.75 $0.00

Note: The calculation is based on a standard annuity mortgage with a fixed monthly payment over the entire term. Extra payments, interest rate changes, and additional purchase costs (e.g. taxes, notary fees) are not included.


How to sell in Pelican Rapids, MN


1500 sqft3900 sqft
Ø selling price$428,341$911,197
Ø fast selling$389,401$820,077
Ø high price sale$467,281$1,002,316

In 2026, houses in Pelican Rapids, MN will be offered at an average price of $236 per square foot. A 1,500 sqft home priced at $428,341 is 20.91% more expensive per square foot than a 3,900 sqft home priced at $911,197. Home prices in Pelican Rapids, MN vary significantly depending on the neighborhood and location. For a quick sale, a 2,700 sqft home should be listed at around $630,828. Sellers who can wait longer may achieve a higher price of up to $771,013.


Discover Pelican Rapids, MN

Pelican Rapids, MN is a welcoming small city in Otter Tail County known for scenic lakes, outdoor recreation, and a vibrant downtown.


Outdoors & Recreation

Set along the Pelican River, the community offers easy access to fishing, kayaking, and birdwatching. Nearby Maplewood State Park features rolling hills, hardwood forests, and miles of hiking trails that explode with fall color. With more than a thousand lakes in the region, Pelican Rapids MN is a basecamp for boating, swimming, and year?round angling.


Culture & Landmarks

Downtown showcases local shops, cafes, and murals, anchored by the iconic Pelican Pete statue overlooking the river. Annual events like Pelican Fest bring live music, food vendors, and family activities that draw visitors from across Minnesota. The city?s history is reflected in preserved architecture and community organizations that celebrate Scandinavian and Midwestern heritage.


Living & Economy

Residents appreciate strong schools, walkable neighborhoods, and an active arts scene supported by local nonprofits. Agriculture, tourism, and small manufacturing fuel the local economy, while remote workers benefit from expanding broadband access. Whether you?re planning a lake getaway or considering relocation, Pelican Rapids Minnesota offers small?town charm with big?nature adventure.



FAQ – Home Values in Pelican Rapids

What is the median home value in Pelican Rapids in 2026?

In 2026, the typical home value in Pelican Rapids is about $368,967 for an average home size of 1566 square feet. This corresponds to an average price of roughly $236 per square foot.

What is the average cost per square foot in Pelican Rapids?

In 2026, homes in Pelican Rapids sell for an average of around $236 per square foot, with a typical range between $299 and $299 per square foot, depending on the property’s location, condition, and lot size.

What is the average home size in ?

The average home size in Pelican Rapids is about 1566 square feet, with an estimated 2026 value around $368,967.



Locations close to Pelican Rapids, MN

Perham, MN101 $ / ft²
Perley, MN79 $ / ft²
Ponsford, MN133 $ / ft²
Ottertail, MN129 $ / ft²
Osage, MN137 $ / ft²
Ogema, MN160 $ / ft²




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