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  4. /Eagle Lake, MN - 56024

Eagle Lake, MN—56024

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$343,000
3.2% YoY Growth
Household Income
$96,700
33.2% YoY Growth
Days on Market
36
51.0% Longer YoY
Home Price Forecast
1.5%
Median Rent
$1,100
21.3% YoY Growth
1-Bed Rent
$625
N/A
2-Bed Rent
$1,100
8.3% YoY Growth
3-Bed Rent
N/A
N/A
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Eagle Lake, MN

As of May '26, the median home price in Eagle Lake, MN is $343,000, with a year-over-year change of 3.2%. This indicates that home prices in Eagle Lake, MN are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$343,0003.2%
Single Family $343,0002.7%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$322,0001.6%
    3 Bed
    		$325,0002.5%
    4 Bed
    		$366,0002.8%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    0.5%
    1 Bedroom
    1.5%
    2 Bedrooms
    24.6%
    3 Bedrooms
    37.5%
    4 Bedrooms
    26.5%
    5+ Bedrooms
    9.4%

    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.

    TypeMedian RentAverage 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/AN/A
    4 Bed Rent $1,740$1,740
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    % of Rental Stock

    Studio
    1.8%
    1 Bedroom
    5.0%
    2 Bedrooms
    59.0%
    3 Bedrooms
    25.5%
    4 Bedrooms
    4.5%
    5+ Bedrooms
    4.3%

    Property Listings — Eagle Lake, MN

    As of May '26, Realtor.com reports that the median days on market for a home in Eagle Lake, MN is 36. This is a increase of 51.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$386,000-10.0%
    Listing Count
    		1254.0%
    Listings as % of Homes0.3%54.0%
    Days on Market
    		3651.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		3,6009.5%
    % Under 18
    		28.2%1.8%
    % Seniors
    		10.5%41.9%
    % WFH
    		9.1%49.2%
    % w/ College Degree
    		37.1%21.6%
    Loading chart...

    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$685$625$1,310
    2 Bedroom$490$1,100$1,590
    3 BedroomN/AN/A$2,230
    4 Bedroom$930$1,740$2,670

    Affordability — Eagle Lake, MN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.2
    Median Home Price$343,000
    Median Household Income$96,700

    Eagle Lake, MN — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Saint Clair

    56080

    Madison Lake, MN

    56063

    Mankato, MN

    56001

    Janesville, MN

    56048

    Kasota, MN

    56050

    Frequently Asked Questions