Waseca County, Minnesota Housing Market Prices
Waseca County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 86% below the Minnesota median Among the top 3 cheapest counties in Minnesota$32,777
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Median rent 31% below the Minnesota median$882
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Waseca County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $32,777 | $236,718 | $248,835 |
| Price Trend (Annual %) | -8.3% | 6.6% | 7.5% |
| Median Gross Rent | $882 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 5.1% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Waseca County is about 86% lower than in Minnesota. Rent is about 31% lower than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Waseca County: home prices fell about 8.3% a year while rent rose about 5.1% a year. That is an unusual pattern worth watching.
Median rent in Waseca County rose about 54.6% between 2015 and 2024, from $571 to $882. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 0.4 yearly household incomes in Waseca County.
Buying the median-priced home in Waseca County costs roughly 3.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Waseca County. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | Waseca County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $32,777 | $236,718 | $248,835 |
| Median Household Income | $76,286 | $89,852 | $80,455 |
| Price-to-Income Ratio | 0.4 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Waseca County fell about 75.5%, while median household income rose about 29.2% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Waseca County | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 76.2% | 65.5% | 58.5% |
| Rental Rate | 18.2% | 25.2% | 31.2% |
| Vacancy Rate | 5.6% | 9.3% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Waseca County has a homeownership rate of 76.2%, higher than the Minnesota average of 65.5%. Its housing vacancy rate is 5.6%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | Waseca County | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1968 | 1976 | 1978 |
| Median Number of Rooms | 6.4 | 6.1 | 5.5 |
The typical housing unit in Waseca County was built around 1968. On average, 2.4 people live in a home with about 6.4 rooms, staying for about 17.0 years on average.
Waseca County, MN Housing Compared With Nearby Counties
Waseca County, MN is the smallest of the 5 counties compared here, 18,885 residents against a local median of 52,677. Where Waseca County, MN breaks from the counties next to it is median home price, sitting 84% below the local median of $199,664 at $32,777.
Median rent tells the same story from another angle: $882 against a local median of $1,071, 18% below it. The counties themselves spread $247,465 on median home price, so Waseca County, MN sits at one end of an already wide local range rather than apart from it. Waseca County, MN has the 5th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Waseca County, MN | 18,885 | $32,777 #5/5 | $882 #4/5 | 80.7% #1/5 |
| Steele County, MN | 37,436 | $204,296 | $1,061 | 79.4% |
| Freeborn County, MN | 30,623 | $135,869 | $848 | 79.5% |
| Rice County, MN | 67,917 | $383,335 | $1,082 | 76.3% |
| Blue Earth County, MN | 69,837 | $195,031 | $1,123 | 61.4% |
Frequently Asked Questions
Common questions about the housing market in Waseca County, Minnesota.
What is the median home price in Waseca County, Minnesota?
The median home price in Waseca County, Minnesota is $32,777, lower than the Minnesota average of $236,718.
What is the average home price in Waseca County, Minnesota?
The typical home price in Waseca County, Minnesota, reported as the median sale price, is $32,777. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Waseca County, Minnesota?
The median gross rent in Waseca County, Minnesota is $882 per month, lower than the Minnesota average of $1,280.
What was the median gross rent in Waseca County in 2020?
In 2020, the median gross rent in Waseca County, Minnesota was $712 per month.
What is the price-to-rent ratio in Waseca County, Minnesota?
The price-to-rent ratio in Waseca County, Minnesota is about 3.1, meaning it would take roughly 3.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Waseca County.
Are home prices or rent rising faster in Waseca County, Minnesota?
Home prices and rent are moving in opposite directions in Waseca County: home prices fell about 8.3% a year while rent rose about 5.1% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Waseca County, Minnesota?
76.2% of households in Waseca County, Minnesota own their home, higher than the Minnesota average of 65.5%.
What is the vacancy rate in Waseca County, Minnesota?
The housing vacancy rate in Waseca County, Minnesota is 5.6%, lower than the Minnesota average of 9.3%.
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