Real Estate Investing in Waseca, Minnesota (56093)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56093 (Waseca, MN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Waseca, MN (56093)?
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Market Analysis: 56093 Waseca
The 56093 ZIP covers a section of Waseca that demands careful diligence. Prices near $253K look accessible, but the work to make a deal cash flow is real.
The investment case in 56093 is resilient only for operators who understand what they are buying. A $253K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 56093's metrics run below Waseca County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A healthy renter share of 21% in 56093 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 56093 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Waseca:
Property Strategy for 56093
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $188,782 | $1,060 | 4.0% | +6.5% | $94,391 |
| 3BR | $232,163 | $1,410 | 4.4% | +7.1% | $77,388 |
| 4BR | $277,341 | $1,750 | 4.5% | +7.0% | $69,335 |
| 5BR | $341,481 | — | — | +7.1% | $68,296 |
Market Trends
Home Value History (with trend line)
📊 How Does 56093 Compare?
| Metric | 56093 | Waseca | Minnesota |
|---|---|---|---|
| Home Value | $253,261 | $253,261 | $340,597 |
| 5-Year CAGR | 5.3% | 5.3% | 4.9% |
| Avg Rent | $954 | $954 | - |
| Cap Rate | 2.9% | 2.9% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 56093 (Waseca, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $253,261 |
| Monthly Rent | $954 |
| Price-to-Rent | 22.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.5% |
| Cap Rate | 2.9% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +5.1% ▲ |
| 3-Year CAGR | +4.1% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 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 (2.9%). 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 56093
Population: 12,742
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 56093
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
How does Waseca, MN stack up for property investment?
Waseca, MN clocks in at an investability rating of 3.0/5, with median home values near $253K and average rents around $954/mo. That combination puts it in the significant tier for investor interest.
How deep is the rental pool in Waseca, MN?
Expect a solid tenant pool in Waseca, MN. The rental market absorbs $954/mo rents without meaningful friction.
Are rents high in Waseca, MN?
Waseca, MN rentals go for roughly $954/mo a month. That puts gross yield in solid territory relative to $253K acquisition costs.
Is Waseca, MN better for rentals, flips, or BRRRR?
For Waseca, MN, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Should investors worry about vacancy in Waseca, MN?
Vacancy in Waseca, MN is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $954/mo.
You know 56093 now. You don’t know where it ranks.
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