Elgin, MN housing market
The typical Elgin home is worth about $379,000, up 5.8% in a year, 8% above the Minnesota typical home.
Home values, sales, trends and how Elgin compares with the towns next door — updated as new data is published.
Elgin at a glance
Typical home value, 2016–2026
Show as a table
| January | Elgin | Minnesota |
|---|---|---|
| 2017 | $204,000 | $217,000 |
| 2018 | $220,000 | $232,000 |
| 2019 | $234,000 | $246,000 |
| 2020 | $246,000 | $259,000 |
| 2021 | $266,000 | $282,000 |
| 2022 | $302,000 | $313,000 |
| 2023 | $320,000 | $325,000 |
| 2024 | $332,000 | $331,000 |
| 2025 | $353,000 | $341,000 |
| 2026 | $368,000 | $349,000 |
| August 2026 | $379,000 | $351,000 |
Elgin and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Elgin | $379K | +5.8% | $1,210 | — | $113,304 |
| Plainview | $284K | +3.6% | $1,210 | — | $97,857 |
| Viola | — | +15.5%† | $1,210 | 0 | $111,667 |
| Farmington | — | — | $1,220 | 1 | $87,750 |
† FHFA price index change, where Zillow has no home value for the town.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,210
HUD's Fair Market Rent for a two-bedroom in Elgin is $1,210 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Elgin pay a median of $729, so moving in tends to cost more than staying put.
Studio $900 · 4 bedrooms $2,030
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55932, 55964; Rochester, MN HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Elgin
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.