Market Overview
Home Prices in Balaton, MN
The median home value in Balaton, MN is $104,784 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 10.4% compared to a year ago and up 2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Balaton are priced74% below average. Balaton is part of the Marshall, MN metro area.
Over the past five years, Balaton home values have risen by approximately14.2%, reflecting steady appreciation in this market.
Price History
Balaton Home Price Trend
2020
$82,848
$83K
—
2021
$91,786
$92K
+10.8%
2022
$95,758
$96K
+4.3%
2023
$93,983
$94K
-1.9%
2024
$93,048
$93K
-1.0%
2025
$94,882
$95K
+2.0%
2026
$104,784
$105K
+10.4%
City Comparison
Balaton vs. National Median
🏠 Balaton
$104,784
National Median
$410,000
At $104,784, homes in Balaton cost 74% below the national median of $410,000. This makes Balaton a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Balaton?
20% Down Payment
$20,957
on $104,784
Monthly P&I
$546/mo
30-yr @ 6.8%
Total Monthly Est.
~$693/mo
incl. taxes & insurance
Income Needed
$27,720
gross annual (30% rule)
10% Down Option
$10,478
+ PMI applies
Loan Amount (20% dn)
$83,827
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 Balaton, MN?
The median home value in Balaton is $104,784 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 10.4% year-over-year.
How much have home prices changed in Balaton?
Over the past year, home values in Balaton have increased by 10.4%. Over five years, prices have risen approximately 14.2%.
How much do I need to earn to buy a home in Balaton?
To comfortably afford the median home price of $104,784 with a 20% down payment ($20,957) at today's rates (6.8%), you'd need a gross annual income of approximately $27,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Balaton compare to the national average home price?
The national median home value is approximately $410,000. At $104,784, homes in Balaton are 74% below the national average.
What metro area is Balaton part of?
Balaton is part of the Marshall, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.