Balaton, MN—56115
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Balaton, MN
As of Oct '25, the median home price in Balaton, MN is $204,000, with a year-over-year change of 6.9%. This indicates that home prices in Balaton, MN are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $204,000 | 6.9% |
| Single Family | $205,000 | 7.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Balaton, MN
Balaton, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,300 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,300 | $1,300 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Balaton, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Balaton, MN is 48. This is a decrease of -11.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $285,000 | 288.0% |
Listing Count | 6 | 143.0% |
| Listings as % of Homes | 0.2% | 143.0% |
Days on Market | 48 | -11.0% |
Demographics — Balaton, MN
As of the latest ACS Survey released in 2023, Balaton, MN has a population of 1,260, which has decreased by -12.7% over the past 5 years. Balaton, MN is a popular place for families, as children make up 27.0% of the population. The area has a moderately educated workforce, with 28.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,260 | -12.7% |
% Under 18 | 27.0% | 8.0% |
% Seniors | 20.3% | 7.4% |
% WFH | 16.0% | 61.6% |
% w/ College Degree | 28.4% | 42.7% |
As of the latest ACS Survey released in 2023, Balaton, MN is a predominantly white area, with 93.3% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Balaton, MN is hispanic, making up 2.9% of the population. Foreign-born residents account for 1.1% of the population in Balaton, MN, and this percentage has decreased by 47.6% 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 | 93.3% | -2.3% |
% Black | 0.0% | N/A |
% Hispanic | 2.9% | 26.1% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 1.1% | -47.6% |
Mortgage and Risk — Balaton, MN
According to HUD data as of 2023, there were 35 mortgage originations in Balaton, MN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Balaton, MN. Investor activity is low, as 0.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 35 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 0.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Balaton, MN
Balaton, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $980 |
| 2 Bedroom | -$130 | $1,300 | $1,170 |
| 3 Bedroom | N/A | N/A | $1,630 |
| 4 Bedroom | N/A | N/A | $1,960 |
Affordability — Balaton, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $204,000 |
| Median Household Income | $67,200 |