Albert Lea, MN Real Estate
According to census data in the year 2000 there were 8,142 housing units in Albert Lea.
This represents a 2.7% growth from 7,930 in 1990.
Of those housing units, 7,995 were located in either urbanized areas or urban clusters, and 147 were located in what is classified as a rural area.
Homeownership rate in Albert Lea is about 72.9%.
Albert Lea's vacancy rate, including seasonal lodging, is about 4.3%.
Average household size is 2.28 people.
The majority of houses, apartments or condos in Albert Lea were built after 1956.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 2% |
| One Bedroom | 16.30% |
| Two Bedrooms | 28.70% |
| Three Bedrooms | 39.40% |
| Four Bedrooms | 12% |
| Five Bedrooms or more | 1.50% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.41 |
| Median year structure was built | 1955 |
| Median Value of occupied units | $69,700 |
| Median Price asked for vacant units | $92,800 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.95 |
| Median year structure was built | 1963 |
| Median Monthly Rent asked for vacant units | $329 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.20% |
| Second Mortgage | 4.10% |
| Home Equity Loan | 10.10% |
| Simple Mortgage | 44.30% |
| Debt Free | 41.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 15.3% |
