Market Overview
Home Prices in Alvarado, MN
The median home value in Alvarado, MN is $182,184 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.8% compared to a year ago and down 3.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Alvarado are priced56% below average. Alvarado is part of the Grand Forks, ND-MN metro area.
Over the past five years, Alvarado home values have fallen by approximately0.4%, reflecting softening conditions in this market.
Price History
Alvarado Home Price Trend
City Comparison
Alvarado vs. National Median
At $182,184, homes in Alvarado cost 56% below the national median of $410,000. This makes Alvarado a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Alvarado?
20% Down Payment
$36,437
on $182,184
Monthly P&I
$950/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,207/mo
incl. taxes & insurance
Income Needed
$48,280
gross annual (30% rule)
10% Down Option
$18,218
+ PMI applies
Loan Amount (20% dn)
$145,747
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 Alvarado, MN?
The median home value in Alvarado is $182,184 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.8% year-over-year.
How much have home prices changed in Alvarado?
Over the past year, home values in Alvarado have increased by 3.8%. Over five years, prices have fallen approximately 0.4%.
How much do I need to earn to buy a home in Alvarado?
To comfortably afford the median home price of $182,184 with a 20% down payment ($36,437) at today's rates (6.8%), you'd need a gross annual income of approximately $48,280. This assumes keeping total housing costs at or below 30% of gross income.
How does Alvarado compare to the national average home price?
The national median home value is approximately $410,000. At $182,184, homes in Alvarado are 56% below the national average.
What metro area is Alvarado part of?
Alvarado is part of the Grand Forks, ND-MN metropolitan area. Home prices and market conditions can vary across the broader metro region.