Eagle Lake, MN—56024
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Eagle Lake, MN
As of Nov '25, the median home price in Eagle Lake, MN is $330,000, with a year-over-year change of 5.3%. This indicates that home prices in Eagle Lake, 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 | $330,000 | 5.3% |
| Single Family | $330,000 | 5.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $243,000 | 10.5% |
3 Bed | $287,000 | 5.9% |
4 Bed | $351,000 | 4.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Eagle Lake, MN
As of July '25, Rentcast reports the average rent in Eagle Lake, MN is $1,180, with a year-over-year rent change of -21.3%. Per bedroom, the median rent as of July '25 in Eagle Lake, MN is studios: $1,280, 1-bedrooms: $662, 2-bedrooms: $1,320, 4-bedrooms: $1,740. The most common rental property sizes in Eagle Lake, MN are 2-bedroom and 3-bedroom, accounting for 59.0% and 25.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,180 |
| Studio Rent | $900 | $1,280 |
| 1 Bed Rent | $625 | $662 |
| 2 Bed Rent | $1,100 | $1,320 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $1,740 | $1,740 |
% of Rental Stock
Property Listings — Eagle Lake, MN
As of Nov '25, Realtor.com reports that the median days on market for a home in Eagle Lake, MN is 39. This is a decrease of -39.0% 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 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $380,000 | -16.0% |
Listing Count | 9 | -52.0% |
| Listings as % of Homes | 0.3% | -52.0% |
Days on Market | 39 | -39.0% |
Demographics — Eagle Lake, MN
As of the latest ACS Survey released in 2023, Eagle Lake, MN has a population of 3,600, which has increased by 9.5% over the past 5 years. Eagle Lake, MN is a popular place for families, as children make up 28.2% of the population. The area has a moderately educated workforce, with 37.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,600 | 9.5% |
% Under 18 | 28.2% | 1.8% |
% Seniors | 10.5% | 41.9% |
% WFH | 9.1% | 49.2% |
% w/ College Degree | 37.1% | 21.6% |
As of the latest ACS Survey released in 2023, Eagle Lake, MN is a predominantly white area, with 86.5% of the population identifying as white. The white population has shrunk by 3.0% in the last 5 years. The second most common race or ethnicity in Eagle Lake, MN is hispanic, making up 6.3% of the population. Foreign-born residents account for 2.8% of the population in Eagle Lake, MN, and this percentage has increased by 250.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 86.5% | -3.0% |
% Black | 0.6% | -73.9% |
% Hispanic | 6.3% | 133.3% |
% Asian | 0.8% | 100.0% |
% Foreign Born | 2.8% | 250.0% |
Mortgage and Risk — Eagle Lake, MN
According to HUD data as of 2023, there were 69 mortgage originations in Eagle Lake, MN, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Eagle Lake, MN. Investor activity is low, as 7.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 69 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 7.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 6.0% |
Rentals and Section 8 — Eagle Lake, MN
Eagle Lake, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 22 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | 1.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $685 | $625 | $1,310 |
| 2 Bedroom | $490 | $1,100 | $1,590 |
| 3 Bedroom | N/A | N/A | $2,230 |
| 4 Bedroom | $930 | $1,740 | $2,670 |
Affordability — Eagle Lake, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $330,000 |
| Median Household Income | $96,700 |