salaryRent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 17.8 minutes.
How much money do I need?
To rent here comfortably, you should earn about $33,000 a year. That is $16 an hour at a full-time job.
Is rent cheaper than other Minnesota cities?
Yes. Rent here is cheaper than in most of Minnesota. It is number 9 of 150 cities from cheapest to most expensive.
How much do households earn in Albert Lea?
Share of households by yearly income. 19.4% of households earn $100,000 or more.
Rent by apartment size in Albert Lea
| Size | Albert Lea | U.S. average |
|---|---|---|
| Studio | $1,142 | $1,338 |
| 1 bedroom | $752 | $1,324 |
| 2 bedrooms | $991 | $1,509 |
| 3 bedrooms | $1,293 | $1,698 |
| 4 bedrooms | $1,296 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Albert Lea overall?
Everyday prices in Minnesota overall are 1% below the U.S. average (index 98.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Albert Lea, so the Minnesota figure is shown.
Taxes and bills in Albert Lea
Life in Albert Lea
Is it cheaper to rent or buy in Albert Lea?
Renting is cheaper right now: about $268 a month less.
Owning assumes a typical $157,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $15,750 for the down payment.
Frequently asked questions
What is the average rent in Albert Lea, MN?
Renting in Albert Lea costs a median of about $825 a month in 2026, including utilities. The Minnesota median is $1,525.
How much do I need to make to live in Albert Lea?
To keep rent under 30% of income, you need about $33,000 a year, or $16 an hour at a full-time job.
Is Albert Lea cheap or expensive?
Albert Lea is rated Cheap: rent takes 14.2% of the typical household income of $69,674. It ranks 9th cheapest of 150 Minnesota cities we track.
How much are property taxes in Albert Lea?
The median homeowner in Albert Lea pays $1,803 a year in property taxes, about 1.14% of the median home value.
Is Albert Lea more expensive than the national average?
Overall prices in Minnesota are 1% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Albert Lea?
The median home value in Albert Lea is $157,500, about 2.3 times the typical yearly household income.
18,330 people live in Albert Lea. Numbers are typical (middle) values.