Market Overview
Home Prices in Minnesota Lake, MN
The median home value in Minnesota Lake, MN is $213,617 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.1% compared to a year ago and up 6.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Minnesota Lake are priced48% below average. Minnesota Lake is part of the Mankato, MN metro area.
Over the past five years, Minnesota Lake home values have risen by approximately48.8%, reflecting strong long-term appreciation in this market.
Price History
Minnesota Lake Home Price Trend
City Comparison
Minnesota Lake vs. National Median
At $213,617, homes in Minnesota Lake cost 48% below the national median of $410,000. This makes Minnesota Lake a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Minnesota Lake?
20% Down Payment
$42,723
on $213,617
Monthly P&I
$1,114/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,415/mo
incl. taxes & insurance
Income Needed
$56,600
gross annual (30% rule)
10% Down Option
$21,362
+ PMI applies
Loan Amount (20% dn)
$170,894
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 Minnesota Lake, MN?
The median home value in Minnesota Lake is $213,617 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.1% year-over-year.
How much have home prices changed in Minnesota Lake?
Over the past year, home values in Minnesota Lake have increased by 8.1%. Over five years, prices have risen approximately 48.8%.
How much do I need to earn to buy a home in Minnesota Lake?
To comfortably afford the median home price of $213,617 with a 20% down payment ($42,723) at today's rates (6.8%), you'd need a gross annual income of approximately $56,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Minnesota Lake compare to the national average home price?
The national median home value is approximately $410,000. At $213,617, homes in Minnesota Lake are 48% below the national average.
What metro area is Minnesota Lake part of?
Minnesota Lake is part of the Mankato, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.