Clear Lake, MN—55319
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Clear Lake, MN
As of Nov '25, the median home price in Clear Lake, MN is $398,000, with a year-over-year change of 2.8%. This indicates that home prices in Clear Lake, MN are increasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $398,000 | 2.8% |
| Single Family | $399,000 | 2.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $338,000 | 4.3% |
3 Bed | $404,000 | 3.1% |
4 Bed | $448,000 | 3.0% |
| 5 Bed | $515,998 | 2.1% |
% of Housing Stock
Rental Trends — Clear Lake, MN
As of July '25, Rentcast reports the average rent in Clear Lake, MN is $2,300, with a year-over-year rent change of -11.5%. Per bedroom, the median rent as of July '25 in Clear Lake, MN is 3-bedrooms: $2,200, 4-bedrooms: $2,400. The most common rental property sizes in Clear Lake, MN are 2-bedroom and 3-bedroom, accounting for 42.3% and 17.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,300 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,200 | $2,200 |
| 4 Bed Rent | $2,400 | $2,400 |
% of Rental Stock
Property Listings — Clear Lake, MN
As of Nov '25, Realtor.com reports that the median days on market for a home in Clear Lake, MN is 84. This is a decrease of -20.0% 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 | $364,000 | -6.0% |
Listing Count | 53 | 18.0% |
| Listings as % of Homes | 0.6% | 18.0% |
Days on Market | 84 | -20.0% |
Demographics — Clear Lake, MN
As of the latest ACS Survey released in 2023, Clear Lake, MN has a population of 5,490, which has increased by 4.4% over the past 5 years. Clear Lake, MN is a popular place for families, as children make up 26.5% of the population. The area has a moderately educated workforce, with 30.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,490 | 4.4% |
% Under 18 | 26.5% | 13.2% |
% Seniors | 14.5% | -4.6% |
% WFH | 12.9% | 108.1% |
% w/ College Degree | 30.9% | 24.6% |
As of the latest ACS Survey released in 2023, Clear Lake, MN is a predominantly white area, with 96.6% of the population identifying as white. The white population has grown by 0.2% in the last 5 years. The second most common race or ethnicity in Clear Lake, MN is asian, making up 0.8% of the population. Foreign-born residents account for 0.6% of the population in Clear Lake, MN, and this percentage has decreased by 50.0% 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 | 96.6% | 0.2% |
% Black | 0.6% | -25.0% |
% Hispanic | 0.6% | -25.0% |
% Asian | 0.8% | 60.0% |
% Foreign Born | 0.6% | -50.0% |
Mortgage and Risk — Clear Lake, MN
According to HUD data as of 2023, there were 144 mortgage originations in Clear Lake, MN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Clear Lake, MN. Investor activity is low, as 3.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 144 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 3.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 15.0% |
Rentals and Section 8 — Clear Lake, MN
Clear Lake, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 4 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | 5.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,200 |
| 2 Bedroom | N/A | N/A | $1,460 |
| 3 Bedroom | -$230 | $2,200 | $1,970 |
| 4 Bedroom | -$160 | $2,400 | $2,240 |
Affordability — Clear Lake, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $398,000 |
| Median Household Income | $111,000 |