Thief River Falls, MN

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  • Performance
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Key Performance Metrics

Market snapshot

Performance indicators for the Thief River Falls short-term rental market based on reliable data.

Listings

17 / 38

Reliable / Active

Cap Rate

10%

Middle-Earners Gross Yield

Revenue

$19,038

Middle-Earners Revenue

Occupancy

58%

Middle-Earners Occupancy

Home Value

$188,510

Median Home Sale Price

Top Earners

$31,361

Top-Earners Revenue

Thief River Falls

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Thief River Falls.

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B

Generally Investor friendly

Thief River Falls Regulations

STRs are explicitly allowed citywide with no licensing, occupancy caps, or inspections currently required, and the city has no restrictive ordinance in place. The primary friction is uncertain but modest—lodging tax compliance is under discussion and a 3% rate is proposed, with potential future registration—keeping the regime friendly but not entirely risk‑free.

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About Thief River Falls

Thief River Falls sits in the northwestern corner of Minnesota in Pennington County, a small city of roughly 8,500 people that serves as the regional hub for the surrounding agricultural and lake country. Its character is that of a quiet, hard-working northern Minnesota town, with broad skies, long winters, and a downtown shaped by its identity as a center for manufacturing and electronics distribution, most notably as the global headquarters of Digi-Key Electronics. The city takes its name from the Thief River, a tributary of the Red Lake River, and the area is popular with hunters, anglers, and snowmobilers drawn by the open country and abundant public lands. The nearest major city is Grand Forks, North Dakota, about 65 miles to the west, while the larger regional anchor of Minneapolis and Saint Paul lies roughly 300 miles to the southeast.

Just east of town, the Agassiz National Wildlife Refuge spreads across tens of thousands of acres of prairie, wetland, and aspen woodland. About a twenty- to twenty-five-minute drive from Thief River Falls, the refuge protects habitat for waterfowl, sandhill cranes, and nesting songbirds, and offers a wildlife drive, hiking trails, and excellent opportunities for bird-watching during spring and fall migrations.

A bit farther north, Lake Bronson State Park is reached by roughly an hour's drive and centers on a reservoir that is a popular destination for walleye, northern pike, and panfish. The park includes a campground, swimming beach, hiking and biking trails, and in winter a network of groomed cross-country ski trails, making it a year-round outdoor draw for visitors based in the Thief River Falls area.

Downtown Thief River Falls has a compact, walkable core along Third Street, where the local Pennington County Historical Society preserves artifacts from the region's lumber, agriculture, and pioneer eras. The Red Lake River also runs through town, with riverside parks and walking paths that residents and visitors use in every season.

Thief River Falls is a compelling base for short-term rentals because it offers a rare combination of small-town affordability, an authentic northern Minnesota experience, and easy access to a wide swath of relatively uncrowded outdoor country. Visitors drawn to the area for hunting, fishing, snowmobiling, or wildlife watching find a place that feels genuinely local yet well-positioned for exploring the wider Red River Valley and the lake-studded country to the east.

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