There are currently 7,557 real estate properties in Albert Lea, MN, with a median automated valuation model (AVM) price of $130,600.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Albert Lea, MN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Albert Lea, MN, is $158,798.00, with the most expensive house in Albert Lea, MN, topping out at $1,288,700.00 and the cheapest home in Albert Lea, MN, clocking in at $15,400.00. In other words, there’s something for every potential homebuyer or savvy investor in Albert Lea, MN!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Albert Lea, MN, is on a rollercoaster ride. The average rent price in Albert Lea, MN, is $1,054.00. Indeed, when looking to rent in Albert Lea, MN, you can expect to pay as little as $410.00 or as much as $2,000.00, with the average rent median estimated to be $990.00. The good news is that finding an affordable and desirable property to rent in Albert Lea, MN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Albert Lea, MN area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Albert Lea, MN and much more. Save thousands at closing with home foreclosure listings in Albert Lea, MN — up to 75% off market value!
Albert Lea is located in Freeborn, Minnesota, with an estimated municipal population of 17,656 residents. All of the best foreclosed homes for sale in Albert Lea are located in the following zip code areas on Foreclosure.com: 56007. The estimated population per square kilometer (.62 miles) in Albert Lea is 513.
So, about how much do homes cost in Albert Lea? The most recent median value of resident-owned homes in Albert Lea is 98,290. An estimated 69.1 percent of households in Albert Lea own their homes, with an average family size of 2.78. The median household income in Albert Lea is 47,508, with14 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Albert Lea, the median commute time of resident workers (in minutes) is 16.9. And last, but certainly not least, are you looking for homes to rent in Albert Lea? If so, the average rent price paid by renters in Albert Lea is 687, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Albert Lea, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Albert Lea is 42.6, split between 47.7 percent male versus 52.3 female. The percentage of residents who report being married in Albert Lea is 48.1, with an average family size of 2.78.
The percentage of residents who report their race in Albert Lea is as follows:
|Black / African American||1.6%|
|American Indian / Alaskan Native||0.7%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Albert Lea? Or maybe you are searching for 55+ active adult communities in and/or near Albert Lea?
The percentage of residents who report their age in Albert Lea is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Albert Lea with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Albert Lea.
How do you know that living in -- or moving to -- Albert Lea is right where you need to be? Perhaps you grew up in Albert Lea or already live nearby; therefore, the decision to buy a home in Albert Lea is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Albert Lea for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Albert Lea:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Albert Lea.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Albert Lea can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Albert Lea, meanwhile, can field multiple offers from more qualified buyers.