Saint Peter, Minnesota.
Typical home $298,007 (+2.5% in a year), asking rent $1,166 . Mankato, MN metro.
to buy the typical home at today's mortgage rate — +$793 (+103%) since Jan 2020.
- 1 year
- Up $7,191 +2%
- $290,816$298,007 since Sep 2025
- 5 years
- Up $54,293 +22%
- $243,714$298,007 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Saint Peter$1,564
- Minnesota$1,831
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 17 years.
Typical home values in Saint Peter, MN rose 2.5% over the past year — faster than the nation's +1.2%.
Living in Saint Peter, Nicollet County, Minnesota
Saint Peter is a city of 12,066 people in Nicollet County. Half its households earn more than $65,122 a year and half less, against $79,756 across Nicollet County; 17% of its people live below the poverty line. 65% of its homes are lived in by their owners and 35% are rented. Unemployment in Nicollet County was 3.7% in August 2026, and the county had 0.1% fewer jobs in 2025 than the year before. The most residents work in schools and health care, then manufacturing.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Saint Peter is a small city on the Minnesota River, home to a college and a population that skews younger than many towns of its size. Incomes run below the county's, and the share of people living below the poverty line is fairly high. Most homes are lived in by their owners, though renters make up a real part of the town. Winters are cold, with a good deal of snow, and summers are warm.
Work. Many residents work in schools, hospitals and social care, with manufacturing, shops and professional and business services also employing people. Gustavus Adolphus College, the Saint Peter Public School District and Rivers Edge Hospital and Clinic are among the largest workplaces in town. Commutes are short, and a fair number of people work from home. Unemployment has edged up a little over the past year, and the county has about as many jobs as it did a year earlier.
Things to do. Lake Emily is a lake in or beside town, and the Linnaeus Arboretum, a botanical garden, is also close by. A short drive away, Wita Lake and Savidge Lake offer more time on the water. For a longer outing, Minneopa State Park is a protected area a longer drive away.
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- 4,059households
- 34%of adults have a degree
- 17%below the poverty line
- 15 mintypical commute
- 19%work from home
What residents work in
Employed residents by industry, from the Census survey. Nicollet County had 14,599 jobs in 2025, 0.1% fewer than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 22° and lows near 3°; warmest in July, with highs near 82° and lows near 61°. About 38 inches of snow and 32 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the St. Peter weather station, under a mile away (NOAA).
Largest workplaces in Saint Peter
- MN Department of Human ServicesMental health facilities, residential1,049
- Gustavus Adolphus CollegeUniversity or college658
- MSOP St. PeterMental health facilities, residential339
- St. Peter Public School DistrictSchool district299FTE
- Rivers Edge Hospital and ClinicCritical access hospital162FTE
- Benedictine Living Community - St PeterAssisted-living facilities with on-site nursing facilities157
- Creation Technologies - MinnesotaPrinted circuit assemblies manufacturing134
- Alumacraft BoatsMotorboat, inboard or outboard, building120
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 21 workplaces with 20 or more staff, 2,899 people in all. Colleges come from IPEDS (NCES, 2023–24), school districts from the Common Core of Data (NCES, 2023–24) and hospitals from their Medicare cost reports (CMS, 2023); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Strong windVery high
- Winter weatherVery high
- Cold wavesVery high
- HailRelatively high
- Inland floodingRelatively high
- TornadoesRelatively high
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Saint Peter’s census tracts, against the rest of the country; all of them together, relatively high. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Nicollet County and the Mankato, MN metro.
Saint Peter home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Saint Peter$298,007
- Minnesota$348,778
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 4 Saint Peter listings — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Saint Peter25.95%
- United States26.90%
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Saint Peter47
New listings per month
Sellers arriving at the market.
- Saint Peter15
Zip codes with a Saint Peter address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Saint Peter — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.