Foreclosure Homes in Balaton, MN

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1 3rd-st-Balaton-MN-56115
$49,500 List Price

3rd St
Balaton, MN 56115

3 Bed | 2 Bath

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Home Value Estimator For Balaton, MN

There are currently 89 real estate properties in Balaton, MN, with a median automated valuation model (AVM) price of $216,400.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Balaton, 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 Balaton, MN, is $311,394.00, with the most expensive house in Balaton, MN, topping out at $1,275,800.00 and the cheapest home in Balaton, MN, clocking in at $14,400.00. In other words, there’s something for every potential homebuyer or savvy investor in Balaton, MN!

Rent Prices In Balaton, MN

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Balaton, MN, is on a rollercoaster ride. The average rent price in Balaton, MN, is $1,117.00. Indeed, when looking to rent in Balaton, MN, you can expect to pay as little as $690.00 or as much as $2,200.00, with the average rent median estimated to be $1,070.00. The good news is that finding an affordable and desirable property to rent in Balaton, 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 Balaton, MN

Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Balaton, MN area at Get information on foreclosure homes for rent, how to buy foreclosures in Balaton, MN and much more. Save thousands at closing with home foreclosure listings in Balaton, MN — up to 75% off market value!

Top Reasons To Live In Balaton, MN In 2021

Balaton is located in Lyon, Minnesota, with an estimated municipal population of 624 residents. All of the best foreclosed homes for sale in Balaton are located in the following zip code areas on 56115. The estimated population per square kilometer (.62 miles) in Balaton is 166.

Cost Of Living In Balaton, MN

So, about how much do homes cost in Balaton? The most recent median value of resident-owned homes in Balaton is 72,085. An estimated 77.9 percent of households in Balaton own their homes, with an average family size of 2.81. The median household income in Balaton is 50,313, with13.4 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Balaton, the median commute time of resident workers (in minutes) is 22.3. And last, but certainly not least, are you looking for homes to rent in Balaton? If so, the average rent price paid by renters in Balaton is 573, according to recent statistics.

Diversity And Demographics In Balaton, 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 Balaton, 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 Balaton is 40, split between 48.2 percent male versus 51.8 female. The percentage of residents who report being married in Balaton is 49.3, with an average family size of 2.81.

The percentage of residents who report their race in Balaton is as follows:

White 98.2%
Black / African American 0%
Asian 0%
American Indian / Alaskan Native 0.2%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 1.2%
Other 0.5%

Looking for family-friendly neighborhoods in and/or near Balaton? Or maybe you are searching for 55+ active adult communities in and/or near Balaton?

The percentage of residents who report their age in Balaton is as follows:

Under 10 13.9%
Aged 10-19 8.8%
20s 15.5%
30s 11.8%
40s 8.5%
50s 8.8%
60s 18%
70s 10.1%
80+ 4.5%

Best Schools In Balaton, 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 Balaton with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Balaton.

Pros And Cons Of Living In Balaton, Minnesota

How do you know that living in -- or moving to -- Balaton is right where you need to be? Perhaps you grew up in Balaton or already live nearby; therefore, the decision to buy a home in Balaton is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Balaton 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 Balaton:

  • 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 Balaton.

Reasons To Move To Balaton, 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 Balaton can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Balaton, meanwhile, can field multiple offers from more qualified buyers.


Listing types in Balaton, MN

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