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EconPulse

Local economy signal dashboard

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PLACEStable

Northome, MN

Stable overall. Federal Funds is the clearest support signal, while population needs the most attention. Housing reads as affordable for a median-income household.

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Overall score64out of 100
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58
71
0
83
100

Population

159

Data freshness

Unknown

GDP / Output

+2.7% YoY

58

$642.7M

Output changed +2.7% in 2024.

Vintage date unknown

State growth5.1%
U.S. growth5.3%

Jobs

Unemployment rate

71

3.3%

Unemployment is 3.3% for Latest available.

Vintage date unknown

State avg4.3%
U.S. avg4.1%

Population

-27.1% 5-year

0

159

Population moved -27.1% over the latest ACS window.

Vintage date unknown

State population5,739,445
U.S. population334,922,499

Housing

Rent share of income

83

12.5%

Median rent consumes 12.5% of median household income: Affordable.

Vintage date unknown

State rent$1.3K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$11.7K per resident

100

$141.2M

$141.2M in federal obligations flowed here in FY2025.

Vintage date unknown

State total$242.1B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$141.2M

$11.7K per resident in reported federal flow.

Top agencies

Dollars
1. Social Security Administration$89.2M
2. Department of the Interior$23.0M
3. Department of Veterans Affairs$11.5M

Top recipients

Dollars
1. BOIS FORTE RESERVATION TRIBAL COUNCIL$11.3M
2. MICHELS CONSTRUCTION, INC.$11.2M
3. SKYWEST AIRLINES INC$6.4M

Affordable

Housing Affordability

12.5%

of median income

1BR estimate$544
2BR estimate$716
Median income$63,750
Median home value$87,700

ACS context

Quick Facts

Population

159

Median age

55.0

Bachelor's degree+

20.8%

Poverty rate

11.3%

Labor force participation

64.5%

Prime rate

6.8%

CPI YoY

+3.0%

U.S. GDP YoY

+6.6%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

Latest available

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-09-15

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

-6.1%

GDP CAGR

+4.9%

Federal flow

N/A

Population (5 years)
2020218
2021202
2022216
2023182
2024159
GDP (5 years)
2020$507.1M
2021$530.1M
2022$611.6M
2023$625.8M
2024$642.7M

2-year linear forecast

Predictive Outlook

Population forecast

2024159
2025154 *
2026140 *

R² = 76.7% · * projected

GDP forecast

2024$642.7M
2025$693.5M *
2026$730.2M *

R² = 91.1% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$63,750/yr
Median rent$663/mo
Rent share of income12.5%
Est. mortgage (30yr, 6.5%)$5,322/yr
Mortgage share of income8.3%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate3.3%
State avg4.3%
U.S. avg4.1%
Labor force participation64.5%
Poverty rate11.3%

Data from BLS LAUS / CPS. Latest available.

valuation snapshot

Real Estate

Median home value$87,700
Median monthly rent$663
Price-to-rent ratio11.0x

Low price-to-rent ratio — buying may be more favorable than renting in this market.

composite score

Investment Climate

Investment climateModerate
Composite score51/100
Economic growth58/100
Labor market71/100
Population momentum0/100
Overall stability64/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Northome city, Minnesota

City/Town

Part of

Minnesota

Nearby locations

Mizpah, MNKelliher, MNFunkley, MNBlackduck, MNSquaw Lake, MN