Lester Prairie, MN housing market
The typical Lester Prairie home is worth about $327,000, up 3.5% in a year, 7% below the Minnesota typical home.
Home values, sales, trends and how Lester Prairie compares with the towns next door — updated as new data is published.
Lester Prairie at a glance
Only 2 sales in May 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Typical home value, 2016–2026
Show as a table
| January | Lester Prairie | Minnesota |
|---|---|---|
| 2017 | $181,000 | $217,000 |
| 2018 | $190,000 | $232,000 |
| 2019 | $199,000 | $246,000 |
| 2020 | $217,000 | $259,000 |
| 2021 | $237,000 | $282,000 |
| 2022 | $277,000 | $313,000 |
| 2023 | $289,000 | $325,000 |
| 2024 | $298,000 | $331,000 |
| 2025 | $310,000 | $341,000 |
| 2026 | $323,000 | $349,000 |
| August 2026 | $327,000 | $351,000 |
1 new home permitted in 2025
Builders were permitted 1 new home in Lester Prairie in 2025. That's 0.5 per 1,000 residents, slower than across Minnesota (3.8). Over the past 10 years, Lester Prairie has permitted 35 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Lester Prairie gained 164 residents while 26 new homes were permitted: about 6.3 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across Minnesota: 2.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 1 | 1 | 0 | $300,000 |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 2 | 0 | 2 | $450,000 |
| 2022 | 3 | 3 | 0 | $840,000 |
| 2021 | 7 | 7 | 0 | $1.3 million |
| 2020 | 4 | 4 | 0 | $922,000 |
| 2019 | 4 | 4 | 0 | $922,000 |
| 2018 | 6 | 6 | 0 | $1.3 million |
| 2017 | 5 | 5 | 0 | $950,000 |
| 2016 | 3 | 3 | 0 | $661,000 |
| 2015 | 4 | 4 | 0 | $684,000 |
| 2014 | 1 | 1 | 0 | $158,000 |
| 2013 | 2 | 2 | 0 | $328,000 |
| 2012 | 1 | 1 | 0 | $166,000 |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 1 | 1 | 0 | $256,000 |
| 2008 | 1 | 1 | 0 | $159,000 |
| 2007 | 6 | 6 | 0 | $1.1 million |
| 2006 | 29 | 29 | 0 | $4.1 million |
| 2005 | 37 | 37 | 0 | $10 million |
| 2004 | 61 | 61 | 0 | $8.9 million |
| 2003 | 21 | 17 | 4 | $3.1 million |
| 2002 | 22 | 16 | 6 | $2.9 million |
| 2001 | 9 | 9 | 0 | $1.1 million |
| 2000 | 3 | 3 | 0 | $376,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
3.4 years of income
The typical Lester Prairie home costs about 3.4 years of the town's median household income, less than across Minnesota (3.9 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $970
HUD's Fair Market Rent for a two-bedroom in Lester Prairie is $970 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Lester Prairie pay a median of $688, so moving in tends to cost more than staying put. A two-bedroom takes about 12% of the town's median household income.
Studio $800 · 4 bedrooms $1,630
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55354; McLeod 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.
Recent listings in Lester Prairie
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. 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.