Median price for residential apartments in Albert Lea, MN as of Nov, 2022.
Take into account that the price depends on the location and condition of the apartment. The size and amenities might have a large influence on the asking price as well.
73 Albert Lea, MN 56007, USA apartments for sale
Albert Lea
According to statistics, the population in Albert Lea, MN amounts to 17,716, which shows decline 0% compared to the previous year. The median age of the city’s residents is 44. The average household income is $43,532, shifting growth 3% from the past year, and the average property value in Albert Lea, MN decline -1% to $94,400 throughout the year.
| Population | 17,716 |
| Median Age | 43.5 |
| Poverty Rate | 16% |
| Household Income | $43,532 |
| Number Of Employees | 8,481 |
| Median Property Value | $94,400 |
Household Income
The average household income in Albert Lea, MN grew from $42,128 to $43,532 in the past year. This data is an estimate based upon 7,806 households in Albert Lea, MN . The chart below presents how household income is distributed in Albert Lea, MN in comparison to the revenue allocation amid households nationally.
Property Value
According to data from last year, the average property value in Albert Lea, MN shifted from $95,200 to $94,400 throughout the year. The subsequent graph indicates the share of properties in the given price range in Albert Lea, MN in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Albert Lea, MN properties falls in the '$100,000 to $124,999' range, which is lower than the most significant median property across the country.
Rent vs. Own
Property Taxes
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Albert Lea, MN compared to median property taxes around the country. The prevalent amount of property taxes in Albert Lea, MN equals $1150, which is less than the national average.
Housing Trends
How much does an apartment cost in Albert Lea, MN 56007, USA
Average apartment sale in Albert Lea: $198,011 (-4%)
| Apartment Size | Nov | vs Last Month |
|---|---|---|
| Studio apartments | $150,043 | +61.4% |
| 2-bed apartments | $149,023 | -28.4% |
| 3-bed apartments | $184,412 | -15.8% |
| 4+ bed apartments | $297,117 | +12.8% |
During Nov 2022, the average price for an apartment in/near Albert Lea, MN decreased by 4% to $198,011.
Asking price for 2-bed apartment also decreased by 28.4% and a place of this size will now cost you $149,023. A 3-bed apartment goes for $184,412, it decreased by 15.8% lately. We discerned the rise of 4- and more bed apartment price. It increased by 12.8% and made it up to $297,117.
| Listing Type | Nov | vs Last Month |
|---|---|---|
| Land for sale | $95,120 | +72.5% |
| Apartments for sale | $139,900 | N/A |
| Other for sale | $177,500 | -24.5% |
| Duplexes for sale | $425,000 | N/A |
| Houses for sale | $201,382 | -10.7% |
| Lofts for sale | $269,900 | N/A |
| Condos for sale | $219,900 | N/A |
While assessing the property pricing Albert Lea, MN, you can note that it remains flat with a price tag of $139,900. Price reports demonstrate that house price decreased by 10.7% this month making it up to $201,382. Condo prices remain stable. Condo for sale is now available for the same pricing as previously — $219,900. An average value of duplex is $425,000, thus a median price for a duplex remains the same this month. The price statistics of lofts have not significantly changed, it now still goes for $269,900.