Market Overview
Home Prices in Albert Lea, MN
The median home value in Albert Lea, MN is $185,100 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.3% compared to a year ago and up 0.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Albert Lea are priced55% below average. Albert Lea is part of the Albert Lea, MN metro area.
Over the past five years, Albert Lea home values have risen by approximately27.6%, reflecting strong long-term appreciation in this market.
Price History
Albert Lea Home Price Trend
City Comparison
Albert Lea vs. National Median
At $185,100, homes in Albert Lea cost 55% below the national median of $410,000. This makes Albert Lea a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Albert Lea?
20% Down Payment
$37,020
on $185,100
Monthly P&I
$965/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,226/mo
incl. taxes & insurance
Income Needed
$49,040
gross annual (30% rule)
10% Down Option
$18,510
+ PMI applies
Loan Amount (20% dn)
$148,080
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Albert Lea, MN?
The median home value in Albert Lea is $185,100 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.3% year-over-year.
How much have home prices changed in Albert Lea?
Over the past year, home values in Albert Lea have increased by 5.3%. Over five years, prices have risen approximately 27.6%.
How much do I need to earn to buy a home in Albert Lea?
To comfortably afford the median home price of $185,100 with a 20% down payment ($37,020) at today's rates (6.8%), you'd need a gross annual income of approximately $49,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Albert Lea compare to the national average home price?
The national median home value is approximately $410,000. At $185,100, homes in Albert Lea are 55% below the national average.
What metro area is Albert Lea part of?
Albert Lea is part of the Albert Lea, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.