The typical owner-occupied home in Eagle Lake is worth about $276,500, 16% below the Minnesota median of $329,300 and 17% below the national median of $332,700. Owners pay a median $2,661 a year in property taxes, about 0.96% of their home's value, lower than the Minnesota rate of 1.02%. The median household earns $96,964 a year, so the median home costs 2.9 times the median income (3.7 times for Minnesota). 64% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Eagle Lake at a glance
| Eagle Lake | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $276,500 | $329,300 | $332,700 |
| Median property tax paid per year | $2,661 | $3,357 | $3,119 |
| Property tax as a share of value | 0.96% | 1.02% | 0.94% |
| Median household income | $96,964 | $89,062 | $80,734 |
| Homes lived in by their owners | 64% | 72% | 65% |
| Owner homes with a mortgage | 71% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,707 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 19.8% | 19.7% | 21.0% |
| Median rent | $1,403 | $1,280 | $1,413 |
| Rent as a share of renters' income | 19.9% | 29.2% | 30.6% |
| Median year homes were built | 1997 | 1979 | 1980 |
| Vacant homes | 3.0% | 9.3% | 10.1% |
| Population | 3,281 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Eagle Lake
At this week's average 30-year rate of 7.11%, buying the median Eagle Lake home of $276,500 with 20% down costs about $1,824 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,285, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $78,190 for the 20%-down payment. That payment is 23% of the median Eagle Lake household income of $96,964; at that income and 20% down, the 28% guideline points to a home of about $343,000.
The median rent here is $1,403 a month, so owning the median home costs about $421 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $55,300 |
|---|---|
| Loan amount | $221,200 |
| Principal and interest | $1,488 |
| Property taxes (0.96% a year) | $221 |
| Homeowners insurance (our estimate, 0.5% a year) | $115 |
| PMI | $0 |
| Total per month | $1,824 |
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| Down payment | $9,678 |
|---|---|
| Loan amount | $271,492 |
| Principal and interest | $1,826 |
| Property taxes (0.96% a year) | $221 |
| Homeowners insurance (our estimate, 0.5% a year) | $115 |
| FHA mortgage insurance | $122 |
| Total per month | $2,285 |
Change the numbers in the calculator
Questions about home buying in Eagle Lake
What is the median home value in Eagle Lake?
About $276,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Eagle Lake?
Homeowners pay a median $2,661 a year, which is about 0.96% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Eagle Lake?
For the median home with 20% down at 7.11%, the payment is about $1,824 a month. Keeping that under 28% of gross income takes about $78,190 a year.
More about Eagle Lake
- Mortgage Refinance in Eagle Lake
- Debt Relief in Eagle Lake
- Home Equity Loans in Eagle Lake
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data