Waseca, MN—56093
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Waseca, MN
Waseca, MN lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $241,000 | 2.7% |
| Single Family | $242,000 | 2.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $189,000 | 2.2% |
3 Bed | $232,000 | 2.2% |
4 Bed | $277,000 | 1.8% |
| 5 Bed | $341,000 | 1.5% |
% of Housing Stock
Rental Trends — Waseca, MN
As of July '25, Rentcast reports the average rent in Waseca, MN is $816, with a year-over-year rent change of -2.3%. Per bedroom, the median rent as of July '25 in Waseca, MN is 1-bedrooms: $705, 2-bedrooms: $800, 3-bedrooms: $1,300. The most common rental property sizes in Waseca, MN are 2-bedroom and 1-bedroom, accounting for 45.9% and 20.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $720 | $816 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $680 | $705 |
| 2 Bed Rent | $720 | $800 |
| 3 Bed Rent | $1,300 | $1,300 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Waseca, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Waseca, MN is 24. This is a increase of 20.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $234,000 | -2.0% |
Listing Count | 32 | -40.0% |
| Listings as % of Homes | 0.4% | -40.0% |
Days on Market | 24 | 20.0% |
Demographics — Waseca, MN
As of the latest ACS Survey released in 2023, Waseca, MN has a population of 12,700, which has increased by 3.3% over the past 5 years. Waseca, MN is a moderately popular place for families, as children make up 23.5% of the population. The area has a poorly educated workforce, with 19.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,700 | 3.3% |
% Under 18 | 23.5% | 4.9% |
% Seniors | 17.4% | 6.1% |
% WFH | 5.2% | 10.6% |
% w/ College Degree | 19.3% | 2.7% |
As of the latest ACS Survey released in 2023, Waseca, MN is a predominantly white area, with 84.4% of the population identifying as white. The white population has shrunk by 2.1% in the last 5 years. The second most common race or ethnicity in Waseca, MN is hispanic, making up 9.6% of the population. Foreign-born residents account for 3.7% of the population in Waseca, MN, and this percentage has decreased by 22.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.4% | -2.1% |
% Black | 1.1% | -63.3% |
% Hispanic | 9.6% | 29.7% |
% Asian | 1.2% | 140.0% |
% Foreign Born | 3.7% | -22.9% |
Mortgage and Risk — Waseca, MN
According to HUD data as of 2023, there were 173 mortgage originations in Waseca, MN, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 43.0% above 90% LTV (very high). This implies large mortgage risk in Waseca, MN. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 173 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Waseca, MN
Waseca, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 232 |
Total Units Section 8 | 172 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 73.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $680 | $830 |
| 2 Bedroom | $370 | $720 | $1,090 |
| 3 Bedroom | $180 | $1,300 | $1,480 |
| 4 Bedroom | N/A | N/A | $1,740 |
Affordability — Waseca, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $241,000 |
| Median Household Income | $73,200 |