Lake Crystal, MN—56055
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lake Crystal, MN
As of Oct '25, the median home price in Lake Crystal, MN is $280,000, with a year-over-year change of 7.4%. This indicates that home prices in Lake Crystal, MN are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $280,000 | 7.4% |
| Single Family | $283,000 | 8.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $199,000 | 7.0% |
3 Bed | $263,000 | 7.8% |
4 Bed | $330,000 | 7.1% |
| 5 Bed | $388,000 | 8.4% |
% of Housing Stock
Rental Trends — Lake Crystal, MN
Lake Crystal, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $895 | $940 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $895 | $895 |
| 2 Bed Rent | $875 | $962 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lake Crystal, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Lake Crystal, MN is 33. This is a increase of 27.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 73.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $289,000 | 7.0% |
Listing Count | 22 | 62.0% |
| Listings as % of Homes | 0.3% | 62.0% |
Days on Market | 33 | 27.0% |
Demographics — Lake Crystal, MN
As of the latest ACS Survey released in 2023, Lake Crystal, MN has a population of 3,870, which has decreased by -2.7% over the past 5 years. Lake Crystal, MN is a moderately popular place for families, as children make up 24.3% of the population. The area has a moderately educated workforce, with 28.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,870 | -2.7% |
% Under 18 | 24.3% | 1.2% |
% Seniors | 20.2% | 12.8% |
% WFH | 6.8% | 21.4% |
% w/ College Degree | 28.5% | 7.5% |
As of the latest ACS Survey released in 2023, Lake Crystal, MN is a predominantly white area, with 94.1% of the population identifying as white. The white population has shrunk by 4.7% in the last 5 years. The second most common race or ethnicity in Lake Crystal, MN is hispanic, making up 2.9% of the population. Foreign-born residents account for 0.9% of the population in Lake Crystal, MN, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 94.1% | -4.7% |
% Black | 0.6% | 200.0% |
% Hispanic | 2.9% | 383.3% |
% Asian | 0.1% | 0.0% |
% Foreign Born | 0.9% | 0.0% |
Mortgage and Risk — Lake Crystal, MN
According to HUD data as of 2023, there were 61 mortgage originations in Lake Crystal, MN, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Lake Crystal, MN. Investor activity is low, as 10.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 61 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 10.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Lake Crystal, MN
Lake Crystal, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 51 |
Total Units Section 8 | 46 |
% Rentals under Section 8 | 17.3% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$65 | $895 | $830 |
| 2 Bedroom | $135 | $875 | $1,010 |
| 3 Bedroom | N/A | N/A | $1,420 |
| 4 Bedroom | N/A | N/A | $1,700 |
Affordability — Lake Crystal, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $280,000 |
| Median Household Income | $83,500 |