Zip 56007 (Albert Lea, MN) Housing

The housing market in Albert Lea, MN (56007) is doing better than the U.S. average, with the median home value sitting at $146,600 compared to a national median of $338,100. In the past year, home values have appreciated 11.33%, significantly higher than the 8.27% appreciation rate for the U.S. as a whole. This strong performance on the housing market may indicate strong economic growth and stability in Albert Lea, MN making it an attractive option for potential home buyers or investors looking for an appealing place to settle down or diversify their portfolio.

The median home cost in Albert Lea (zip 56007) is $146,600. Home appreciation the last 10 years has been 70.2%. Home Appreciation in Albert Lea (zip 56007) is up 11.6%.

Average Age of Homes

- The median age of Albert Lea (zip 56007) real estate is 59 years old

The Rental Market in Albert Lea (zip 56007)

- Renters make up 26.1% of the Albert Lea (zip 56007) population
- 0.9% of houses and apartments in Albert Lea (zip 56007), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Albert Lea, Minnesota	United States
	9,891.0	139,647,020.0
	62	42
	$146,600	$338,100
	11.6%	16.6%
	43.0%	57.0%
	70.2%	101.1%
	$11.18	$10.98
	$1,433	$2,690
	68.2%	57.4%
	8.9%	11.2%
	22.9%	31.4%
Vacant Housing
	0.9%	1.9%
	0.5%	0.4%
	0.6%	0.7%
	0.5%	0.4%
	0.8%	3.6%
	5.6%	4.1%
Value of Owner-Occupied Housing
	2.2%	2.6%
	2.4%	2.4%
	7.0%	2.8%
	13.1%	3.9%
	14.9%	4.5%
	18.6%	11.3%
	17.8%	13.0%
	15.4%	20.1%
	4.7%	13.6%
	2.0%	8.3%
	1.3%	9.7%
	0.2%	3.9%
	0.2%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	5.1%	13.6%
	5.1%	13.6%
	6.7%	13.6%
	7.2%	13.2%
	15.1%	14.8%
	6.7%	13.6%
	19.6%	10.0%
	7.4%	4.7%
	24.8%	12.2%

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