How much does it cost to rent in Waseca, MN?

As of March 2026, the median monthly rent in Waseca, MN is $990. This figure is based on aggregated data from public sources and community-submitted rents.

Is Waseca cheaper than other Minnesota cities?

Waseca is among the more affordable cities in Minnesota, ranking #68 out of 70 cities at $990/mo.

When was Waseca rent data last updated?

Waseca rent data reflects March 2026 and was last refreshed on March 14, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · MN

Waseca

Name: Average Rent Prices in Waseca, MN
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 9,164·68th most expensive in Minnesota·One of the most affordable rental markets in the US

Median rent (all units)

$990/mo

Year-over-Year

Stable

Month-over-Month

Stable

vs US Median

-$975

Be the first to discuss Waseca rents ↓

Most AffordableMost Expensive

Waseca · $990

More affordable than 97% of US cities · National median $1,965/mo

Affordability

19% of income

VERY AFFORDABLE

0%30% benchmark60%+

At $990/mo, rent takes about 19% of the local median household income, comfortably within the 30% benchmark.

Income to afford

$40,000/yr

Local median income

$64,074/yr

Based on the 30%-of-income rule using Waseca's median rent and household income. See the full affordability breakdown →

Medians by bedroom

Rent by unit size

Studio

$830

1 BR

$830

2 BR

$1,090

3 BR

$1,480

4 BR+

$1,740

Research median

$1,090/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: March 14, 2026

Annual cost

$11,880/yr

At $990/mo median

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+0.0% YoY, +0.0% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Waseca, MN is majority owner-occupied, has a median income below the national average, 17.2% of residents hold a bachelor's degree or higher.

Population

9,164

Median income

$64,074

Median age

Renters

28.1%

Age distribution

24.1%

20.7%

28.6%

16.5%

Under 1824.1%

18–3420.7%

35–5428.6%

55–6410.1%

65+16.5%

Gender

44.9%

55.1%

Male44.9%

Female55.1%

Race & ethnicity

90.3%

White90.3%

Black1.7%

Hispanic8.6%

Asian3%

Education (25+)

39.1%

36.4%

17.2%

No HS diploma7.3%

HS diploma39.1%

Some college36.4%

Bachelor's+17.2%

Housing tenure

71.9%

28.1%

Owner71.9%

Renter28.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Waseca, MN has changed in 5 years

Income

$57,022 → $64,074

up 12.4%

Population

9,237 → 9,164

down 0.8%

Renter share

26.7% → 28.1%

+1.4 pts

Bachelor's+

19.2% → 17.2%

-2.0 pts

Median age

39.2 → 38

-1.2 yrs

Household income in the area moved from $57,022 to $64,074 across the same window, up 12.4% versus 2021. Bachelor's-degree-or-higher attainment moved from 19.2% to 17.2% across the same window.

Community

Discussions about Waseca

No discussions yet. Start the conversation.

View Waseca rent history (2015–2026) →

Salary vs rent

Can you afford rent in Waseca on your salary?

At $990/mo, how Waseca rent compares to typical pay (30% rule).

Registered Nurse

Avg $98,259/yr · Rent = 12.1% income

very comfortable

Elementary School Teacher

Avg $69,763/yr · Rent = 17% income

very comfortable

Police Officer

Avg $80,361/yr · Rent = 14.8% income

very comfortable

Software Developer

Avg $143,634/yr · Rent = 8.3% income

very comfortable

Lawyer

Avg $183,529/yr · Rent = 6.5% income

very comfortable

Firefighter

Avg $65,322/yr · Rent = 18.2% income

very comfortable

Truck Driver

Avg $58,978/yr · Rent = 20.1% income

affordable

Electrician

Avg $72,696/yr · Rent = 16.3% income

very comfortable

By apartment size

Waseca rent by bedroom count

Median rent for each apartment size in Waseca. Click any size for full breakdown.

Local insights

Tips for renters in Waseca

About renting in Waseca, MN

Last updated: March 14, 2026

The median rent in Waseca is $990/mo as of March 2026. A studio apartment averages $830/mo while a 2-bedroom runs $1,090/mo. One-bedroom apartments average $830/mo and 3-bedroom units go for $1,480/mo.

At 19% of local median household income ($64,074/yr), Waseca ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Waseca an affordable city for renters?

Waseca is considered very affordable for renters. At $990/mo, rent takes approximately 19% of the local median household income ($64,074/yr). The standard benchmark is 30%. Waseca falls comfortably within that range.

How much income do you need to rent in Waseca?

To keep rent at or below 30% of gross income, you would need to earn at least $40,000/year (~$19/hour full-time) to afford the median rent of $990/mo in Waseca. The local median household income is $64,074/yr, meaning the typical Waseca household meets that threshold.

Is rent going up or down in Waseca?

Rent in Waseca has been relatively stable over the past year, with a 0.0% change year over year as of March 2026.

How does Waseca rent compare to other cities in Minnesota?

Waseca is one of the more affordable cities in Minnesota for rent, ranking #68 out of 70 tracked cities at $990/mo.

Which nearby cities are cheaper to rent in than Waseca?

Albert Lea is nearby and more affordable at $960/mo, which is $30 less than Waseca.

What percentage of Waseca residents rent vs. own?

According to Census data, approximately 28.1% of Waseca households are renters, while 71.9% are owner-occupied. Waseca leans toward homeownership, which can mean a smaller rental inventory.