Market Overview
Home Prices in Wanamingo, MN
The median home value in Wanamingo, MN is $311,059 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.9% compared to a year ago and up 2.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Wanamingo are priced24% below average. Wanamingo is part of the Red Wing, MN metro area.
Over the past five years, Wanamingo home values have risen by approximately18.8%, reflecting steady appreciation in this market.
Price History
Wanamingo Home Price Trend
City Comparison
Wanamingo vs. National Median
At $311,059, homes in Wanamingo cost 24% below the national median of $410,000. This makes Wanamingo a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Wanamingo?
20% Down Payment
$62,212
on $311,059
Monthly P&I
$1,622/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,060/mo
incl. taxes & insurance
Income Needed
$82,400
gross annual (30% rule)
10% Down Option
$31,106
+ PMI applies
Loan Amount (20% dn)
$248,847
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 Wanamingo, MN?
The median home value in Wanamingo is $311,059 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.9% year-over-year.
How much have home prices changed in Wanamingo?
Over the past year, home values in Wanamingo have increased by 3.9%. Over five years, prices have risen approximately 18.8%.
How much do I need to earn to buy a home in Wanamingo?
To comfortably afford the median home price of $311,059 with a 20% down payment ($62,212) at today's rates (6.8%), you'd need a gross annual income of approximately $82,400. This assumes keeping total housing costs at or below 30% of gross income.
How does Wanamingo compare to the national average home price?
The national median home value is approximately $410,000. At $311,059, homes in Wanamingo are 24% below the national average.
What metro area is Wanamingo part of?
Wanamingo is part of the Red Wing, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.