Market Overview
Home Prices in Lanesboro, MN
The median home value in Lanesboro, MN is $234,349 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 3% compared to a year ago and up 2.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lanesboro are priced43% below average. Lanesboro is part of the Rochester, MN metro area.
Over the past five years, Lanesboro home values have risen by approximately23.3%, reflecting strong long-term appreciation in this market.
Price History
Lanesboro Home Price Trend
City Comparison
Lanesboro vs. National Median
At $234,349, homes in Lanesboro cost 43% below the national median of $410,000. This makes Lanesboro a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lanesboro?
20% Down Payment
$46,870
on $234,349
Monthly P&I
$1,222/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,552/mo
incl. taxes & insurance
Income Needed
$62,080
gross annual (30% rule)
10% Down Option
$23,435
+ PMI applies
Loan Amount (20% dn)
$187,479
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 Lanesboro, MN?
The median home value in Lanesboro is $234,349 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 3% year-over-year.
How much have home prices changed in Lanesboro?
Over the past year, home values in Lanesboro have decreased by 3%. Over five years, prices have risen approximately 23.3%.
How much do I need to earn to buy a home in Lanesboro?
To comfortably afford the median home price of $234,349 with a 20% down payment ($46,870) at today's rates (6.8%), you'd need a gross annual income of approximately $62,080. This assumes keeping total housing costs at or below 30% of gross income.
How does Lanesboro compare to the national average home price?
The national median home value is approximately $410,000. At $234,349, homes in Lanesboro are 43% below the national average.
What metro area is Lanesboro part of?
Lanesboro is part of the Rochester, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.