Market Overview
Home Prices in Ellendale, MN
The median home value in Ellendale, MN is $313,572 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.2% compared to a year ago and up 5.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ellendale are priced24% below average. Ellendale is part of the Owatonna, MN metro area.
Over the past five years, Ellendale home values have risen by approximately37.6%, reflecting strong long-term appreciation in this market.
Price History
Ellendale Home Price Trend
City Comparison
Ellendale vs. National Median
At $313,572, homes in Ellendale cost 24% below the national median of $410,000. This makes Ellendale a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ellendale?
20% Down Payment
$62,714
on $313,572
Monthly P&I
$1,635/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,076/mo
incl. taxes & insurance
Income Needed
$83,040
gross annual (30% rule)
10% Down Option
$31,357
+ PMI applies
Loan Amount (20% dn)
$250,858
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 Ellendale, MN?
The median home value in Ellendale is $313,572 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.2% year-over-year.
How much have home prices changed in Ellendale?
Over the past year, home values in Ellendale have increased by 7.2%. Over five years, prices have risen approximately 37.6%.
How much do I need to earn to buy a home in Ellendale?
To comfortably afford the median home price of $313,572 with a 20% down payment ($62,714) at today's rates (6.8%), you'd need a gross annual income of approximately $83,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Ellendale compare to the national average home price?
The national median home value is approximately $410,000. At $313,572, homes in Ellendale are 24% below the national average.
What metro area is Ellendale part of?
Ellendale is part of the Owatonna, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.