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Albert Lea, MN Housing

 
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As of 2010-2014, median price of a house in Albert Lea is $90,600, which is much lower than the state average of $185,200 and is much lower than the national average of $175,700. The Albert Lea median house value has grown by 29.99% since 2000. The growth rate for the price of a house in Albert Lea is lower than the state average rate of 51.31% and is lower than the national average rate of 46.91%. The median year that a house in Albert Lea was built is 1957, which is older than the median year for a house built in the state which is 1975 and is older than the median year for a house built in the USA which is 1976.

Topics:House ValueHousing OccupancyYear Structure BuiltMortgage StatusMortgage Owner's CostsNone-Mortgage Owner's CostsUnits in StructureRoomsBedroomsHouse Heating FuelGross RentVehicle Available

House Value

Median Value of a Total of 5,568 Owner Occupied Houses in Albert Lea, MN, #519
Albert Lea, MN
90,600 USD
Minnesota
185,200 USD
U.S.
175,700 USD
Median House Price Growth Since 2000, #765
Albert Lea, MN
29.99%
Minnesota
51.31%
U.S.
46.91%
Ranks: $50K or Less, $50-100K, $100-150K, $150-200K, $200-300K, $300-500K, $500-1M, $1M or More

*Based on 2010-2014 data. View historical house value data.

Housing Occupancy

 Albert Lea, MNMinnesotaU.S.
Total Housing Units8,702, see rank, 100%2,364,149132,741,033
Occupied Housing Units8,041, 92.40%, see rank89.48%87.55%
Owner Occupied5,568, 63.99%, see rank64.51%56.34%
Renter Occupied2,473, 28.42%, see rank24.96%31.21%
Vacant Housing Units661, 7.60%, see rank10.52%12.45%
For Rent261, 3.00%, see rank1.22%2.34%
For Sale Only37, 0.43%, see rank0.96%1.20%
Rented or Sold, Not Occupied0, 0.00%, see rank0.68%0.92%
For Seasonal, Recreational, or Occasional Use59, 0.68%, see rank5.29%3.97%
For Migrant Workers0, 0.00%, see rank0.01%0.03%
Other Vacant304, 3.49%, see rank2.36%4.00%

*Based on 2010-2014 data. View historical housing occupancy data.

Year Structure Built

Median Built Year, #597
Albert Lea, MNMinnesotaU.S.
195719751976

Ranks: 1995 or earlier, 1960-1969, 1970-1979, 1980-1989, 1990-2000, 2000-2010

*Based on 2010-2014 data. View historical year structure built data.

Mortgage Status

 Albert Lea, MN%MinnesotaU.S.
Owner-Occupied Units5,568100%1,525,20174,787,460
With a Mortgage3,13756.34%, see rank68.78%65.58%
Without a Mortgage2,43143.66%, see rank31.22%34.42%

*Based on 2010-2014 data. View historical mortgage status data.

Monthly Owner Costs for Housing Units with a Mortgage


Median Owner Costs, see rank
Albert Lea, MN
919 USD
Minnesota
1,526 USD
U.S.
1,522 USD

Owner Costs Distribution
Monthly Owner CostsAlbert Lea, MN%MinnesotaU.S.
$299 or Less331.05%, see rank0.18%0.20%
$300 to $499963.06%, see rank1.30%1.59%
$500 to $69967421.49%, see rank4.08%5.01%
$700 to $9991,02832.77%, see rank12.50%14.32%
$1,000 to $1,49985327.19%, see rank30.43%27.90%
$1,500 to $1,9993129.95%, see rank25.36%20.35%
$2,000 to $2,9991213.86%, see rank19.32%19.52%
$3,000 or More200.64%, see rank6.84%11.12%

Owner Cost as a Percentage of the Total Income, Median Percentage, see rank
Albert Lea, MN
20.80% of the Total Income
Minnesota
22.50% of the Total Income
U.S.
23.70% of the Total Income

Owner Cost as a Percentage of the Total Income, Distribution
 Albert Lea, MN%MinnesotaU.S.
10% or Less1976.28%, see rank6.13%5.86%
10% to 20%1,28040.80%, see rank35.03%31.95%
20% to 30%83926.75%, see rank30.01%27.64%
30% to 40%35211.22%, see rank12.88%13.74%
40% or More45414.47%, see rank15.67%20.29%

*Based on 2010-2014 data. View historical monthly owner costs for housing units with a mortgage data.

Monthly Owner Costs for Housing Units without a Mortgage


Median Owner Costs, see rank
Albert Lea, MN
361 USD
Minnesota
475 USD
U.S.
457 USD

Owner Costs Distribution
Monthly Owner CostsAlbert Lea, MN%MinnesotaU.S.
$199 or Less2429.95%, see rank4.45%7.76%
$200 to $29954022.21%, see rank10.96%14.70%
$300 to $4991,19349.07%, see rank39.99%34.63%
$500 to $69932613.41%, see rank27.38%21.16%
$700 or More1305.35%, see rank17.23%21.75%

Owner Cost as a Percentage of the Total Income, Median Percentage, see rank
Albert Lea, MN
11.80% of the Total Income
Minnesota
11.50% of the Total Income
U.S.
12.30% of the Total Income

Owner Cost as a Percentage of the Total Income, Distribution
 Albert Lea, MN%MinnesotaU.S.
10% or Less1,05643.44%, see rank43.57%40.19%
10% to 20%78532.29%, see rank31.28%31.47%
20% to 30%33113.62%, see rank11.58%12.24%
30% to 40%1255.14%, see rank5.05%5.64%
40% or More1265.18%, see rank7.69%9.16%

*Based on 2010-2014 data. View historical monthly owner costs for housing units without a mortgage data.

Units in Structure

 Albert Lea, MNMinnesotaU.S.
Total Housing Units8,702, 100%2,364,149132,741,033
1-unit, Detached5,991, 68.85%, see rank67.25%61.65%
1-unit, Attached480, 5.52%, see rank7.45%5.82%
2 Units258, 2.96%, see rank2.34%3.75%
3 or 4 Units87, 1.00%, see rank2.08%4.43%
5 to 9 Units345, 3.96%, see rank2.23%4.78%
10 or More Units1,333, 15.32%, see rank15.14%13.08%
Mobile Home, Boat, RV, Van, etc.208, 2.39%, see rank3.52%6.49%

*Based on 2010-2014 data. View historical units in structure data.

Rooms

 Albert Lea, MNMinnesotaU.S.
Total Housing Units8,702, 100%2,364,149132,741,033
1 Room200, 2.30%, see rank1.54%1.95%
2 Rooms251, 2.88%, see rank2.83%2.48%
3 Rooms1,071, 12.31%, see rank9.20%9.13%
4 Rooms1,424, 16.36%, see rank14.05%16.60%
5 Rooms1,717, 19.73%, see rank15.52%20.41%
6 Rooms1,248, 14.34%, see rank14.98%18.06%
7 Rooms1,123, 12.91%, see rank12.86%12.27%
8 Rooms663, 7.62%, see rank11.01%8.48%
9 Rooms or More1,005, 11.55%, see rank18.01%10.60%
Median Rooms5.30, see rank6.005.50

*Based on 2010-2014 data. View historical rooms data.

Bedrooms

 Albert Lea, MNMinnesotaU.S.
Total Housing Units8,702, 100%2,364,149132,741,033
No Bedroom213, 2.45%, see rank1.76%2.17%
1 Bedroom1,399, 16.08%, see rank11.71%11.16%
2 Bedrooms2,539, 29.18%, see rank26.64%26.69%
3 Bedrooms3,295, 37.86%, see rank34.15%39.70%
4 Bedrooms1,000, 11.49%, see rank19.81%16.05%
5 or More Bedrooms256, 2.94%, see rank5.94%4.22%

*Based on 2010-2014 data. View historical bedrooms data.

House Heating Fuel

 Albert Lea, MNMinnesotaU.S.
Total Housing Units8,041, 100%2,115,337116,211,092
Utility Gas6,226, 77.43%, see rank66.78%48.85%
Bottled, Tank, or LP Gas206, 2.56%, see rank10.05%4.86%
Electricity1,337, 16.63%, see rank16.13%36.68%
Fuel Oil, Kerosene, etc.67, 0.83%, see rank2.62%5.86%
Coal or Coke0, 0.00%, see rank0.03%0.12%
Wood67, 0.83%, see rank2.55%2.12%
Solar Energy0, 0.00%, see rank0.02%0.05%
Other Fuel66, 0.82%, see rank1.17%0.47%
No Fuel Used72, 0.90%, see rank0.65%1.00%

*Based on 2010-2014 data. View historical house heating fuel data.

Gross Rent

Monthly RentalAlbert Lea, MNMinnesotaU.S.
Occupied Units Paying Rent2,381, 100%562,19839,201,928
$199 or Less112, 4.70%, see rank2.46%1.50%
$200 to $299159, 6.68%, see rank4.66%3.18%
$300 to $499715, 30.03%, see rank9.32%7.37%
$500 to $699704, 29.57%, see rank17.06%16.01%
$700 to $999450, 18.90%, see rank33.30%29.17%
$1,000 to $1,499158, 6.64%, see rank23.49%26.88%
$1,500 to $1,99965, 2.73%, see rank7.02%9.79%
$2,000 or More18, 0.76%, see rank2.69%6.10%
Median$546, see rank$835$920

*Based on 2010-2014 data. View historical gross rent data.

Vehicle Available

 Albert Lea, MNMinnesotaU.S.
Occupied Housing Units8,041, 100%2,115,337116,211,092
No Vehicles Available776, 9.65%, see rank7.25%9.12%
1 Vehicles Available3,101, 38.56%, see rank30.11%33.80%
2 Vehicles Available2,995, 37.25%, see rank40.67%37.48%
3 or More Vehicles Available1,169, 14.54%, see rank21.97%19.61%

*Based on 2010-2014 data. View historical vehicle available data.


 
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