Real Estate Investing in Lanesboro, Minnesota (55949)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 55949 (Lanesboro, MN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 19.6% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 32.3 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Lanesboro, MN (55949)?
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Market Analysis: 55949 Lanesboro
ZIP 55949 inside Fillmore County looks affordable on the surface — median value of $338K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed markets are won on execution, not on spreadsheets. ZIP 55949 reflects the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Lanesboro have seen price recovery that 55949 has not matched. Fillmore County data supports the view that the spread is structural rather than temporary.
Put differently, 1,918 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategically, 55949 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Lanesboro:
Property Strategy for 55949
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $246,911 | $970 | 2.8% | +7.5% | $123,456 |
| 3BR | $314,003 | $1,300 | 3.0% | +8.2% | $104,668 |
| 4BR | $393,967 | $1,310 | 2.4% | +8.1% | $98,492 |
Market Trends
Home Value History (with trend line)
📊 How Does 55949 Compare?
| Metric | 55949 | Lanesboro | Rochester, MN | Minnesota |
|---|---|---|---|---|
| Home Value | $338,459 | $338,459 | N/A | $340,597 |
| 5-Year CAGR | 5.4% | 5.4% | N/A | 4.9% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 2.0% | 2.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 55949 (Lanesboro, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $338,459 |
| Monthly Rent | $873 |
| Price-to-Rent | 32.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 7.4% |
📈 Home Appreciation
| 1-Year | +2.7% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 55949
Population: 1,918
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 55949
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
What is the median home value in Lanesboro, MN?
In Lanesboro, MN the median home value sits at $338K. Against the broader MN market, that reads as reasonable for most investors.
Is Lanesboro, MN good for house hacking?
The a challenging house-hack environment in Lanesboro, MN reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Is it easy to find good tenants in Lanesboro, MN?
The tenant pool in Lanesboro, MN is solid, supported by local employment and population fundamentals. Rents of $873/mo are well-absorbed by the market.
Is Lanesboro, MN landlord-friendly?
For rental operators, Lanesboro, MN rates as balanced. The regulatory environment standard buy-and-hold operations.
What is the typical rental rate in Lanesboro, MN?
Rental rates in Lanesboro, MN average $873/mo. Tenant demand and $338K home values make the yield look reasonable by investor standards.
You know 55949 now. You don’t know where it ranks.
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How 55949 ranks in Rochester, MN
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