A typical Nicollet home is worth roughly $240,000
Home prices around Nicollet have risen about 49% over the past 5 years. Builders were permitted 3 new homes in 2025.
What kind of housing town is Nicollet?
Read from the numbers below. The page puts what stands out first.
Home prices up 49% in 5 years
The federal house price index for the ZIP code around Nicollet rose 49% over the past 5 years, faster than across Minnesota (37%). Last year prices rose 6.1%.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Nicollet, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A typical home costs 2.8 years of income
Less than across Minnesota (3.9 years). Try your own numbers below.
That covers a typical Nicollet home, with $84K to spare.
A two-bedroom rents for about $1,060 a month here, $410 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Nicollet’s typical property tax (1.07% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,060
Renters already here pay a median of $855, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Mankato, MN MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
3 new homes permitted in 2025
Builders were permitted 3 new homes in Nicollet in 2025, all single-family houses. Over the past 10 years, Nicollet has permitted 41 homes in all.
Between the 2010 and 2020 censuses, Nicollet gained 50 residents while 48 new homes were permitted: about 1 new resident per new home. Building outpaced population growth, which usually means smaller households or homes used part of the year. Across Minnesota: 2.2 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 1 | 1 | 0 | $320,000 |
| 2025 | 3 | 3 | 0 | $960,000 |
| 2024 | 11 | 3 | 8 | $2.6 million |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 2 | 2 | 0 | $442,000 |
| 2020 | 7 | 7 | 0 | $2.2 million |
| 2019 | 1 | 1 | 0 | $240,000 |
| 2018 | 11 | 7 | 4 | $871,000 |
| 2017 | 3 | 3 | 0 | $710,000 |
| 2016 | 3 | 1 | 2 | $415,000 |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 4 | 4 | 0 | $714,000 |
| 2013 | 4 | 4 | 0 | $668,000 |
| 2012 | 4 | 0 | 4 | $400,000 |
| 2011 | 14 | 0 | 14 | $175,000 |
| 2010 | 4 | 0 | 4 | $350,000 |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 2 | 2 | 0 | $580,000 |
| 2007 | 8 | 4 | 4 | $1.3 million |
| 2006 | 12 | 4 | 8 | $1.3 million |
| 2005 | 17 | 13 | 4 | $2.8 million |
| 2004 | 10 | 10 | 0 | $1.2 million |
| 2003 | 16 | 8 | 8 | $1.2 million |
| 2002 | 21 | 3 | 18 | $1.6 million |
| 2001 | 11 | 11 | 0 | $1.3 million |
| 2000 | 7 | 7 | 0 | $1 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
66% of Nicollet households own their home
Half of Nicollet’s homes were built before 1982.
Minnesota: 72% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
Nicollet vs. its neighbors
The towns that share a border with Nicollet. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Nicollet | $240K* | +6.1%† | $1,060 | 3 | $84,643 |
| Granby | — | +6.1%† | $1,060 | — | $130,000 |
Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.
Neighbors talk housing
What Nicollet buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.