Market Overview
Home Prices in Sleepy Eye, MN
The median home value in Sleepy Eye, MN is $177,523 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 9.1% compared to a year ago and up 5.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Sleepy Eye are priced57% below average. Sleepy Eye is part of the New Ulm, MN metro area.
Over the past five years, Sleepy Eye home values have risen by approximately33.7%, reflecting strong long-term appreciation in this market.
Price History
Sleepy Eye Home Price Trend
City Comparison
Sleepy Eye vs. National Median
At $177,523, homes in Sleepy Eye cost 57% below the national median of $410,000. This makes Sleepy Eye a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Sleepy Eye?
20% Down Payment
$35,505
on $177,523
Monthly P&I
$926/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,176/mo
incl. taxes & insurance
Income Needed
$47,040
gross annual (30% rule)
10% Down Option
$17,752
+ PMI applies
Loan Amount (20% dn)
$142,018
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 Sleepy Eye, MN?
The median home value in Sleepy Eye is $177,523 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 9.1% year-over-year.
How much have home prices changed in Sleepy Eye?
Over the past year, home values in Sleepy Eye have increased by 9.1%. Over five years, prices have risen approximately 33.7%.
How much do I need to earn to buy a home in Sleepy Eye?
To comfortably afford the median home price of $177,523 with a 20% down payment ($35,505) at today's rates (6.8%), you'd need a gross annual income of approximately $47,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Sleepy Eye compare to the national average home price?
The national median home value is approximately $410,000. At $177,523, homes in Sleepy Eye are 57% below the national average.
What metro area is Sleepy Eye part of?
Sleepy Eye is part of the New Ulm, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.