Clearwater County

Clearwater County scores a cash-flow rating of zero, which tells you most of what you need to know about the yield picture here. With a median home price of $247,138 and no calculable cap rate from the provided data, the math doesn't pencil for a landlord chasing monthly income. What the county does offer is price appreciation: a 13.24% year-over-year gain in home values and an appreciation score of 83 out of 100 place it firmly on the appreciation end of the spectrum. At a population of 8,541, this is a thin market, and that scarcity of inventory can amplify price moves in both directions. The affordability index of 77 means the market is not cheap relative to local incomes, which is worth keeping in mind if you're counting on organic rent growth to improve yield over time.

This is not a market for the cash-flow buyer. The cash-flow score is zero, and with a $247,138 purchase price at a 6.85% interest rate, the mortgage load alone makes positive monthly returns unlikely without a substantial down payment and very favorable rents. The appreciation score of 83, combined with a 13.24% price gain over the past year, makes Clearwater relevant to a long-hold appreciation buyer who can tolerate carrying costs and is betting on continued price momentum in a low-inventory rural Minnesota market. A value-add operator could theoretically force equity through renovation, but the small population base limits exit options: you are either selling to another investor or to an owner-occupant, and there aren't many of either in a county of 8,500 people.

No economic anchor data was provided for Clearwater County, so employer analysis is not possible here. What the population figure does suggest is limited economic diversity by virtue of scale alone. A county this size tends to be dependent on a narrow set of industries, which introduces rental demand risk that a larger market would absorb more easily. Investors should conduct independent diligence on the local employment base before committing capital.

On carry costs, the combined monthly tax and insurance burden at the $247,138 price point is $305, using Minnesota's state-average effective property tax rate of 1.13% and an insurance rate of 0.35%. The tax flag is "normal," meaning the rate is neither a tailwind nor a meaningful drag by itself. That said, $305 per month in fixed overhead before mortgage, maintenance, or vacancy is real money in a market where the cash-flow score is already zero. The 1.13% rate cited is a state-average estimate per Tax Foundation 2024 data, and the actual Clearwater County or township rate may differ, so confirm the local millage before finalizing your underwrite.

The primary risk here is concentration. A population of 8,541 means any adverse event, whether a major employer leaving, population outmigration, or a broader rural contraction, hits a very small pool of potential tenants and buyers. Liquidity risk is real: if you need to exit, your buyer universe is narrow. The stability score of 50 out of 100 reflects this, sitting at the midpoint and offering no particular cushion. Investors should underwrite for extended vacancy periods and conservative exit timelines.

Compared to the five neighboring counties provided, Clearwater's $247,138 median sits in the middle of the range: above Swift County at $188,268 and Lake of the Woods at $209,243, below Dodge County at $317,490, and close to Pine County at $261,402. All five neighbors have overall scores within a two-point band of Clearwater's 71, which suggests the region is broadly similar in investment quality. Swift County and Lake of the Woods offer lower entry prices, which could improve cash-flow math if rents are comparable. Dodge County is meaningfully more expensive at $317,490 with the same overall score of 72, making it harder to justify unless you have specific intelligence on its rental market. The case for choosing Clearwater over a neighbor comes down to its 13.24% appreciation rate: if that pace has legs and neighboring counties are not matching it, the equity build justifies the premium over Swift or Lake of the Woods. If appreciation normalizes, the entry price advantage shifts to the cheaper neighbors.