Market Overview
Home Prices in Elmore, MN
The median home value in Elmore, MN is $83,745 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.2% compared to a year ago and up 8.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Elmore are priced80% below average. Elmore is part of the Fairmont, MN metro area.
Price History
Elmore Home Price Trend
2022
$70,702
$71K
—
2023
$77,783
$78K
+10.0%
2024
$76,358
$76K
-1.8%
2025
$82,744
$83K
+8.4%
2026
$83,745
$84K
+1.2%
City Comparison
Elmore vs. National Median
🏠 Elmore
$83,745
National Median
$410,000
At $83,745, homes in Elmore cost 80% below the national median of $410,000. This makes Elmore a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Elmore?
20% Down Payment
$16,749
on $83,745
Monthly P&I
$437/mo
30-yr @ 6.8%
Total Monthly Est.
~$555/mo
incl. taxes & insurance
Income Needed
$22,200
gross annual (30% rule)
10% Down Option
$8,375
+ PMI applies
Loan Amount (20% dn)
$66,996
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 Elmore, MN?
The median home value in Elmore is $83,745 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.2% year-over-year.
How much have home prices changed in Elmore?
Over the past year, home values in Elmore have increased by 1.2%.
How much do I need to earn to buy a home in Elmore?
To comfortably afford the median home price of $83,745 with a 20% down payment ($16,749) at today's rates (6.8%), you'd need a gross annual income of approximately $22,200. This assumes keeping total housing costs at or below 30% of gross income.
How does Elmore compare to the national average home price?
The national median home value is approximately $410,000. At $83,745, homes in Elmore are 80% below the national average.
What metro area is Elmore part of?
Elmore is part of the Fairmont, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.