Foreclosure Homes in Albert Lea, MN

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11 Fairlane-ter-Albert-lea-MN-56007
$60,000 List Price

Fairlane Ter
Albert Lea, MN 56007

3 Bed | 1 Bath | 1,064 Sq. Ft.

5 Academy-ave-Albert-lea-MN-56007
$35,360 EMV

Academy Ave
Albert Lea, MN 56007

2 Bed | 2 Bath | 864 Sq. Ft.

$180,965 EMV

Raymond Ave
Albert Lea, MN 56007

2 Bed | 2 Bath | 1,476 Sq. Ft.

$39,185 EMV

Valley Ave
Albert Lea, MN 56007

2 Bed | 1 Bath | 698 Sq. Ft.

27 Maurice-ave-Albert-lea-MN-56007
Fixer Upper
$37,900 List Price

Maurice Ave
Albert Lea, MN 56007

2 Bed | 1 Bath

8 Garfield-ave-Albert-lea-MN-56007
$22,900 List Price

Garfield Ave
Albert Lea, MN 56007

1 Bed | 1 Bath | 563 Sq. Ft.

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Home Value Estimator For Albert Lea, MN

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!

Rent Prices 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.

Foreclosure Homes in Albert Lea, MN

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 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!

Top Reasons To Live In Albert Lea, MN In 2021

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 56007. The estimated population per square kilometer (.62 miles) in Albert Lea is 513.

Cost Of Living In Albert Lea, MN

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.

Diversity And Demographics In Albert Lea, Minnesota

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:

White 88.3%
Black / African American 1.6%
Asian 3.5%
American Indian / Alaskan Native 0.7%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 2.2%
Other 3.7%

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:

Under 10 13%
Aged 10-19 11.1%
20s 11.1%
30s 12%
40s 11.5%
50s 12.3%
60s 10.8%
70s 10.2%
80+ 8.1%

Best Schools In Albert Lea, Minnesota

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.

Pros And Cons Of Living In Albert Lea, Minnesota

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:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

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.

Reasons To Move To Albert Lea, Minnesota, In 2021

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.


Listing types in Albert Lea, MN

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