56007, Albert Lea, MN

Home Equity and Home Prices in the 56007 Zip Code of Albert Lea, MN

The 56007 zip code of Albert Lea, Minnesota has a median home value of $137,500. This is higher than the statewide median home value of $116,200. The zip code also has a higher than average percentage of homes with equity (77%). This indicates that many homeowners in this area are able to use their home equity to finance other items or investments.

The average sale price for homes in the 56007 zip code was $143,500 in 2017. This is significantly higher than the statewide average sale price of $130,800. The increase in sales prices can likely be attributed to strong demand and low supply within this specific zip code. In addition, there are a number of attractive amenities located nearby including shopping and dining options as well as recreational opportunities such as fishing and skiing.

While home values in the 56007 zip code are high relative to other areas within Minnesota, it is important to keep in mind that these values can change rapidly due to market conditions. It is always advisable to consult with a real estate agent or mortgage lender if you are interested in purchasing or refinancing a home within this area.