Rent to own Homes in Albert Lea, MN

Located in southeastern Minnesota, Albert Lea is an approximately 90-minute drive from the Twin Cities. Originally an agricultural town, the city has since become something of a medical hub, with the Mayo Clinic Health System currently the largest employer. Albert Lea is also known for its gorgeous scenery, with the city and the surrounding area boasting several beautiful lakes and an expansive park system.

Albert Lea, MN is a great place for affordable rent-to-own homes! With a median household income of over $45,929 and a median rent of $728, the Albert Lea, MN rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Albert Lea, MN. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.

Check out Albert Lea, MN rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Showing 1 - 44 of 176
1 of 14 224 W HOLLY ST
Rent To Own
 
Single Family Home
Owatonna, MN 55060
4
1
1133 ft2
1885
324 E FOUNTAIN ST
Rent to Own Eligible
 
Townhouse/Condo
Albert Lea, MN 56007
4
1
1992 ft2
1955
17970 780TH AVE
Rent to Own Eligible
 
Single Family Home
Albert Lea, MN 56007
2
1
1683 ft2
1885
New
808 LAKE CHAPEAU DR #105
Rent to Own Eligible
 
Townhouse/Condo
Albert Lea, MN 56007
2
2
1374 ft2
1986
414 CRESCENT DR
Rent to Own Eligible
 
Single Family Home
Albert Lea, MN 56007
4
2
2803 ft2
1981
1 of 43 1709 OAKWOOD TER
Rent to Own Eligible
 
Single Family Home
Albert Lea, MN 56007
3
1
1560 ft2
1959
New
212 N BROADWAY AVE #C-3
Rent to Own Eligible
 
Townhouse/Condo
Albert Lea, MN 56007
2
1
1785 ft2
1991
New
212 N Broadway Ave
Rent to Own Eligible
 
Townhouse/Condo
Albert Lea, MN 56007
2
2
1785 ft2
1991
New
1206 VIRGINIA PL
Rent to Own Eligible
 
Townhouse/Condo
Albert Lea, MN 56007
4
1
1664 ft2
1961
71537 COUNTY ROAD 46
Rent to Own Eligible
 
Single Family Home
Albert Lea, MN 56007
4
1
1304 ft2
1934
New
73931 325TH ST
Rent to Own Eligible
 
Single Family Home
Hartland, MN 56042
3
1
3176 ft2
1895
New
218 2ND ST SE
Rent to Own Eligible
 
Single Family Home
Geneva, MN 56035
3
2
2311 ft2
1965
89610 240TH ST
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
3
1336 ft2
1978
1 of 32 2704 9TH AVE SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
5
4
3259 ft2
1999
1 of 101 2508 4TH AVE NW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
4
4
6772 ft2
2002
New
16651 520TH AVE
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
2
1732 ft2
1926
1 of 71 429 1ST ST NW
Rent to Own Eligible
 
Single Family Home
Blooming Prairie, MN 55917
4
2
2392 ft2
1969
New
640 2ND ST NE
Rent to Own Eligible
 
Single Family Home
Blooming Prairie, MN 55917
3
2
4678 ft2
1890
1403 21ST ST SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
3
2056 ft2
1936
1307 18TH DR NE
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
2
2
1292 ft2
2019
1 of 20 1901 11TH AVE SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
2
3880 ft2
1960
1 of 68 636 E MAIN ST
Rent to Own Eligible
 
Single Family Home
Blooming Prairie, MN 55917
5
2
3000 ft2
1976
New
800 17TH ST SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
2
1
1008 ft2
1950
New
1 of 20 1608 4TH AVE SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
2
1378 ft2
1947
New
162 10TH ST SE
Rent to Own Eligible
 
Single Family Home
Wells, MN 56097
3
1
0 ft2
1977
1 of 6 1519 5TH AVE NW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
4
2
2816 ft2
1979
1 of 14 2806 12TH ST SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
1
1196 ft2
1971
1 of 23 1410 8TH AVE NW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
5
1
2438 ft2
1917
1404 17TH AVE SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
4
1699 ft2
2002
New
90 10TH ST SE
Rent to Own Eligible
 
Single Family Home
Wells, MN 56097
4
1
0 ft2
1967
2400 13TH ST SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
2
1040 ft2
1958
1807 11TH ST SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
2
1070 ft2
1957
1 of 98 907 10TH ST NW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
2
2256 ft2
1937
1 of 80 1007 2ND AVE NW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
2
2019 ft2
1917
1 of 30 1007 8TH ST NW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
4
2
1414 ft2
1938
311 6TH ST SW
Rent to Own Eligible
 
Single Family Home
Wells, MN 56097
2
1
0 ft2
1950
Hot New
809 2ND AVE SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
4
4
2240 ft2
1898
706 8TH AVE NW #4
Rent to Own Eligible
 
Townhouse/Condo
Austin, MN 55912
3
4
1790 ft2
1984
404 6TH ST SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
3
1805 ft2
1921
1 of 58 604 15TH AVE SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
2
2016 ft2
1956
New
608 6TH AVE SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
5
3
1991 ft2
1939
1 of 35 608 14TH AVE SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
4
2
2544 ft2
1947
1 of 44 1704 2ND ST SW
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
4
3
2360 ft2
2007
2008 6TH AVE NE
Rent to Own Eligible
 
Single Family Home
Austin, MN 55912
3
2
1128 ft2
1953
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56007 rent to own homes

Buying a Home in Albert Lea, MN

Albert Lea, MN is seeing rapid growth and Albert Lea, MN's' housing market remains optimal with an average home price that is -53% below the 2024 national average. Albert Lea, MN is part of Freeborn county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Freeborn is 1.01% which is above the national average, which is 0.99%.

Median Home Price in Albert Lea, MN

Median Rent in Albert Lea, MN

Rent to own homes offer low monthly payments and flexible terms.

Top 5 Reasons to Live in Albert Lea, MN

Breathtaking lakes! Minnesota is often referred to as the Land of 10,000 Lakes. Several of the most beautiful can be found in the Albert Lea area, which is home to Pickerel Lake, Goose Lake, School Lake, Albert Lea Lake and Fountain Lake. These bodies of water provide ample opportunities for recreation, with community members enjoying boating and swimming in the summer, as well as ice fishing during the winter months.

Dedication to the arts! The arts are very important in the Albert Lea area, as evidenced in an impressive gallery at the Albert Lea Art Center. A variety of art lessons are available at this location, including a fiber arts class and a small canvas decoupage class. The community also places an emphasis on the performing arts, with the Albert Lea Community Theatre delighting audiences for the past five decades.

Low property taxes! Aspiring Albert Lea residents will be relieved to learn that, unlike many of Minnesota's communities, Albert Lea boasts a surprisingly low property tax rate. The property tax rate per $1,000 of home value is currently $11.68, which is significantly lower than the United States average of $12.07. This is great news for those interested in buying outright or pursuing rent to own opportunities.

Low vacancy rate! Accommodations vary in Albert Lea, with some residents choosing to live in the Gray Gables Apartments and Fountain Lake Estates, while many others invest in condominiums or traditional single-family homes. No matter the living arrangement, it's clear that this is a popular place to establish a home -- the vacancy rate is currently only 5.64 percent!

Relive history at the Freeborn County Historical Village! The Albert Lea community is proud of its heritage, which is celebrated all year long at the Freeborn County Historical Museum and its adjacent Historical Village. Attractions at these popular destinations include a one-room schoolhouse, a log cabin, a mill house and a barber shop. Several additional exhibits are housed in the attraction's main two-story building, which also features an extensive collection of historical archives.