Elizabeth, MN housing market
The median sale price was $245,000 in May 2026.
Home values, sales, trends and how Elizabeth compares with the towns next door — updated as new data is published.
Elizabeth at a glance
Only 1 sale in May 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
No new homes permitted in 2025
No permits for new homes were issued in Elizabeth in 2025. The last year with any was 2006 (2 new homes).
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 0 | 0 | 0 | — |
| 2006 | 2 | 2 | 0 | $260,000 |
| 2005 | 3 | 3 | 0 | $450,000 |
| 2004 | 3 | 3 | 0 | $450,000 |
| 2003 | 0 | 0 | 0 | — |
| 2002 | 2 | 2 | 0 | $75,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
A two-bedroom rents for about $1,250
HUD's Fair Market Rent for a two-bedroom in Elizabeth is $1,250 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $860 · 4 bedrooms $1,820
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (56533, 56537; Otter Tail County, MN), 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.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.