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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Waseca, MN Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Waseca, MN Housing Market Trends

With a population of 9,150, 3,584 total housing units (homes and apartments), and a median house value of $269,722, Waseca real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Waseca, accounting for 78.55% of the city's housing units. Other types of housing that are prevalent in Waseca include large apartment complexes or high rise apartments ( 11.18%), row houses and other attached homes ( 4.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.53%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Waseca. Owner-occupied housing accounts for 68.71% of Waseca's homes, and 57.05% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Waseca built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Waseca built between 1940-1969 ( 35.25%). A lesser amount of the housing stock also hails from before 1939 ( 21.16%). There's also some housing in Waseca built between 2000 and later ( 8.21%).

Waseca Home Appreciation Rates

Real estate appreciation rates in Waseca's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.48% during the period.

NeighborhoodScout's data show that during the latest twelve months, Waseca's appreciation rate, at 6.00%, has been at or slightly above the national average. In the latest quarter, Waseca's appreciation rate has been 4.64%, which annualizes to a rate of 19.89%.

Importantly, this makes Waseca one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Minnesota, our data show that Waseca's latest annual appreciation rate is higher than 80% of the other cities and towns in Minnesota.

Average Home Values

Median Home Value

$269,722

Waseca, MN Home Prices
> $1,346,000
$1,009,001 - $1,346,000
$673,001 - $1,009,000
$538,001 - $673,000
$404,001 - $538,000
$269,001 - $404,000
$134,001 - $269,000
$67,001 - $134,000
$0 - $67,000
0.0%
0.0%
0.9%
0.9%
1.6%
1.6%
1.6%
1.6%
12.1%
12.1%
23.2%
23.2%
46.4%
46.4%
13.6%
13.6%
0.5%
0.5%
0% 100.0%
% of Homes
Low

for Minnesota

Average

for nation

Number of Homes And Apartments:

3,584

Waseca Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,367 / per month

Homeownership Rate

Owners
Renters
68.7%
68.7%
31.3%
31.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.1%
4.1%
95.9%
95.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.2%
8.2%
35.4%
35.4%
35.3%
35.3%
21.2%
21.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
78.6%
78.6%
4.9%
4.9%
3.5%
3.5%
11.2%
11.2%
1.9%
1.9%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.5%
2.5%
7.0%
7.0%
30.0%
30.0%
36.9%
36.9%
20.1%
20.1%
3.5%
3.5%
0% 100.0%
% of Homes

Popular Neighborhoods in Waseca

Popular Communities Near Waseca, MN

Zip Codes in Waseca, MN