Market Overview
Home Prices in Madison Lake, MN
The median home value in Madison Lake, MN is $455,719 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5% compared to a year ago and up 5.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Madison Lake are priced11% above average. Madison Lake is part of the Mankato, MN metro area.
Over the past five years, Madison Lake home values have risen by approximately30.9%, reflecting strong long-term appreciation in this market.
Price History
Madison Lake Home Price Trend
City Comparison
Madison Lake vs. National Median
At $455,719, homes in Madison Lake cost 11% above the national median of $410,000. Buyers in Madison Lake should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Madison Lake?
20% Down Payment
$91,144
on $455,719
Monthly P&I
$2,377/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,019/mo
incl. taxes & insurance
Income Needed
$120,760
gross annual (30% rule)
10% Down Option
$45,572
+ PMI applies
Loan Amount (20% dn)
$364,575
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 Madison Lake, MN?
The median home value in Madison Lake is $455,719 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5% year-over-year.
How much have home prices changed in Madison Lake?
Over the past year, home values in Madison Lake have increased by 5%. Over five years, prices have risen approximately 30.9%.
How much do I need to earn to buy a home in Madison Lake?
To comfortably afford the median home price of $455,719 with a 20% down payment ($91,144) at today's rates (6.8%), you'd need a gross annual income of approximately $120,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Madison Lake compare to the national average home price?
The national median home value is approximately $410,000. At $455,719, homes in Madison Lake are 11% above the national average.
What metro area is Madison Lake part of?
Madison Lake is part of the Mankato, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.