Fillmore County

Fillmore County scores a 63 overall, landing at the 62nd percentile nationally out of 1,000 counties tracked, and ranks 47th out of 87 Minnesota counties. The median home price sits at $291,637, up just 1.94% year-over-year, which is modest price growth by any standard. The cash flow score registers at zero, and the cap rate and cash-on-cash return fields are unpopulated, which tells you something meaningful on its own: the rent-to-price math here does not pencil to a clean number that a tool would confidently display. The appreciation score of 69 is the standout figure, meaningfully above the cash flow profile, which places Fillmore squarely on the appreciation end of the spectrum rather than the yield end. An affordability index of 68 and a median price under $300,000 suggest the entry point is reasonable relative to many Minnesota markets, but affordability alone does not manufacture cash flow.

The investor this market suits is someone prioritizing long-run equity accumulation over monthly yield, willing to accept thin or neutral cash flow in exchange for a market that pencils better on a five-to-ten-year horizon than on a month-one spread. At a $291,637 purchase price with 20% down ($58,327), the monthly mortgage at 6.85% is a real carrying cost, and with the cash flow score at zero, an investor running the numbers at current rents and expenses should expect to be at or near breakeven rather than generating meaningful monthly income. A value-add operator could find opportunity here if they can acquire below the county median and force appreciation through renovation, but the underlying rent support needs to be verified locally before underwriting that thesis. A straight cash-flow buyer looking for double-digit cash-on-cash return should look elsewhere.

No economic anchors or employer data were provided for Fillmore County, so any characterization of the local employer base or job stability would be speculative and is omitted here. What the population figure of 21,251 does communicate is that this is a small, rural county. Thin population density typically correlates with a limited renter pool, which matters when you are trying to underwrite absorption, days-on-market for rentals, and vacancy risk. Investors accustomed to metro or suburban rental dynamics should calibrate expectations accordingly.

On carrying costs, the combined monthly tax and insurance estimate comes to $360, using a state-average effective property tax rate of 1.13% (Tax Foundation 2024) and an insurance rate of 0.35%. That $360 monthly figure is not trivial relative to what rents likely support at this price point, and it needs to sit prominently on any underwrite. The 1.13% tax rate is flagged as normal, so it is neither a tailwind nor a meaningful headwind by Minnesota standards, but the honest caveat applies: this is a state-average estimate, and actual county and township rates in Fillmore may differ in either direction. Pull the specific parcel tax bill before closing on any deal.

The rural character of Fillmore County is itself a concentration risk worth naming. A 21,251-person county with no identified economic anchors means rental demand is likely concentrated in a handful of small towns, possibly Preston or Spring Valley, and vacancy exposure on any single property is harder to diversify away than it would be in a metro submarket. If a major local employer reduces headcount or a demographic trend accelerates outmigration, the renter pool has limited redundancy. The 1.94% year-over-year price appreciation is positive but not dramatic enough to offset a prolonged vacancy on a breakeven property.

Compared to the neighboring counties provided, Fillmore's case becomes clearer by contrast. Wright County carries a median price of $384,109 but a rent-to-price ratio of 0.0563, Anoka comes in at $361,220 with a ratio of 0.0546, and McLeod County at $285,953 posts a ratio of 0.0525. Fillmore's rent-to-price ratio is not provided, and the cash flow score of zero implies it falls below the ratios seen in those neighbors. McLeod is the closest price comp at $285,953 and actually shows a calculable rent-to-price ratio, which means an investor prioritizing cash flow would have more underwriting confidence there. Nicollet County at $304,199 and a 0.049 ratio is in a similar range. Fillmore makes sense over its neighbors specifically when an investor believes the appreciation score of 69 reflects a durable local dynamic, wants to stay under $300,000, and is comfortable holding through a thinner cash flow period. It does not make sense for anyone whose primary screen is current yield.