Waseca, MN 56093 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Waseca, MN—56093

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$240,000

2.2% YoY Growth

Household Income

$73,200

42.6% YoY Growth

Days on Market

13.0% Shorter YoY

Home Price Forecast

N/A

Median Rent

$720

2.3% YoY Growth

1-Bed Rent

$680

2.5% YoY Growth

2-Bed Rent

$720

14.3% YoY Growth

3-Bed Rent

$1,300

N/A

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	$240,000	2.2%
Single Family	$241,000	1.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

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

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% of Rental Stock

Studio

11.1%

1 Bedroom

20.1%

2 Bedrooms

45.9%

3 Bedrooms

19.4%

4 Bedrooms

2.1%

5+ Bedrooms

1.3%

Property Listings — Waseca, MN

As of Dec '25, Realtor.com reports that the median days on market for a home in Waseca, MN is 35. This is a decrease of -4.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$230,000	-6.0%
Listing Count	23	-44.0%
Listings as % of Homes	0.4%	-44.0%
Days on Market	49	-13.0%

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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%

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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%

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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%

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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

Waseca, MN—56093

Key Metrics at a Glance

Home Price Trends — Waseca, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Waseca, MN

% of Rental Stock

Property Listings — Waseca, MN

Demographics — Waseca, MN

Race and Ethnicity

Mortgage and Risk — Waseca, MN

Mortgages

Rentals and Section 8 — Waseca, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Waseca, MN

Home Price to Income Ratio

Waseca, MN — ZIP Code Boundary Map

Nearby ZIP Codes

New Richland, MN

Morristown, MN

Waterville, MN

Janesville, MN

Warsaw, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3
Median Home Price	$240,000
Median Household Income	$73,200

Waseca, MN—56093

Key Metrics at a Glance

Home Price Trends — Waseca, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Waseca, MN

% of Rental Stock

Property Listings — Waseca, MN

Demographics — Waseca, MN

Race and Ethnicity

Mortgage and Risk — Waseca, MN

Mortgages

Rentals and Section 8 — Waseca, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Waseca, MN

Home Price to Income Ratio

Waseca, MN — ZIP Code Boundary Map

Nearby ZIP Codes

New Richland, MN

Morristown, MN

Waterville, MN

Janesville, MN

Warsaw, MN

Frequently Asked Questions

What is the average home price in Waseca, MN 56093?

How have home prices in Waseca, MN 56093 changed over the past year?

What is the home price projection for Waseca, MN 56093?

What are the demographics of Waseca, MN 56093?

How long does it take homes to sell in Waseca, MN 56093?

What is the average rent price in Waseca, MN 56093?