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City · 6,646 residents · Olmsted County, Minnesota

Byron , Minnesota

In Byron, a typical home is worth $345,300 and typical rent is $1,135 a month. Compared with all of Olmsted County, typical household income is 30% higher, typical rent is 17% lower, and the share of households that own their home is 13 points higher.

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  • Typical home value

    $345,300

    4% above the county

    5% above Minnesota

    • Byron
    • Olmsted
    • Minnesota

  • Typical rent

    $1,135a month

    17% below the county

    11% below Minnesota

    • Byron
    • Olmsted
    • Minnesota

  • Typical household income

    $124,010a year

    30% above the county

    39% above Minnesota

    • Byron
    • Olmsted
    • Minnesota

  • Households that own their home

    83%

    13 points above the county

    11 points above Minnesota

    • Byron
    • Olmsted
    • Minnesota

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$402,703
3.7% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Byron is in Olmsted County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Olmsted County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Byron apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Austin, the typical home value is $163,900: 53% less than in Byron ($345,300).

  2. The typical household income in Byron is $124,010, 30% more than in Olmsted County as a whole ($95,406).

  3. 83% of households in Byron own their home, against 71% in Olmsted County.

  4. Nearby, in Austin, the typical rent is $953: 16% less than in Byron ($1,135).

  5. The typical rent in Byron is $1,135 a month, 17% less than in Olmsted County as a whole ($1,370).

  6. Byron has the 14th largest share of rent-burdened renters of the 139 cities in Minnesota with more than 5,000 people (62%).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Byron

What homes there are in Byron, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Byron, 8 in 10 homes are single-family detached houses; in Olmsted County, 6.

Year built

Here half of the homes date from 2000 or later; in Olmsted County, from 1989 or later.

In Byron, 75% of homes have 3 bedrooms or more, more than in Olmsted County (63%).

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$2,205 a month

Olmsted County: $1,956 a month

Without a mortgage

$729 a month

Olmsted County: $721 a month

Owners with a mortgage

74%

Olmsted County: 61%

The typical cost for an owner with a mortgage in Byron is $2,205 a month, more than in Olmsted County ($1,956); without one, $729.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Since 2015–2019, homes in Byron gained value faster than in Olmsted County: 58% against 55%.

The typical rent in Byron stayed about the same over that time: the difference is within the Census margin of error.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureByronOlmsted CountyMinnesotaUnited States
Rental vacancy Unreliable estimate7.1%5.3%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.6%0.9%
More than one person per room Unreliable estimate2.1%2.3%3.4%
People per household 2.792.412.432.53
Drive alone 70%67%69%69%
Carpool Unreliable estimate9%8%9%
Public transit Unreliable estimate3%2%3%
Walk or bike Unreliable estimate4%3%3%
Work from home 20%15%18%15%
Other means Unreliable estimate1%1%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

More people live in each home here: 2.79 on average, against 2.41 in Olmsted County.

Many people here do not commute at all: 20% work from home; in Olmsted County, 15%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Byron?

A typical home is tight for the typical income

We start with a typical home in Byron, worth $345,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 29% of the typical household income in Byron, which is $124,010 a year. For that payment to be 28% of income, a household would need to earn about $128,041 a year.

The calculator's FHA and conventional loan limits are those of all of Olmsted County.

Your numbers

Local data
$

Starts at the typical home value in Byron. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $12,086 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,988

at 7.18% · 30 years

Loan amount
$339,045
Total interest
$487,807
Paid off in
November 2056

Includes $5,831 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,894 a month

  • Tight

    $2,894 to $3,720 a month

    Your payment · 29%

  • Hard

    more than $3,720 a month

Compared with the typical household income in Byron ($124,010 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,988
Principal & interest$2,297
Property tax$394
Home insurance$144
FHA mortgage insurance (MIP)$153

You need at least $12,086 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Byron and Olmsted County

Byron is in Olmsted County, Minnesota. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Byron's own numbers

Typical home value
$345,300
Typical monthly rent
$1,135
Typical yearly household income
$124,010
Households that own their home
83%
Effective property tax rate
1.37%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Olmsted County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,422
Price change over 5 years (FHFA)
+38%
Homes in a high flood-risk zone
0.4%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Olmsted County.

Everything about Olmsted County

Buying

Buying a home in Byron

A typical home in Byron is worth $345,300: 4% above the county and 5% above Minnesota. With the typical household income in Byron ($124,010 a year), a typical home costs 2.8 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Byron 2.8 years
  • Olmsted 3.5 years
  • Minnesota 3.7 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Olmsted County

According to FHFA’s house price index, home prices in Olmsted County rose 80% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Olmsted County.

Period County Minnesota U.S.
Last year (2025) +2.5% +2.8% +2.9%
5 years (2020–2025) +38% +37% +47%
10 years (2015–2025) +80% +71% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Byron next to Olmsted County, Minnesota and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Byron $345,300
  • Olmsted $331,700
  • Minnesota $329,300
  • United States $332,700
Typical monthly rent
  • Byron $1,135
  • Olmsted $1,370
  • Minnesota $1,280
  • United States $1,413
Typical yearly household income
  • Byron $124,010
  • Olmsted $95,406
  • Minnesota $89,062
  • United States $80,734
See the full table
Byron next to Olmsted County and Minnesota
Measure Byron Olmsted County Minnesota U.S.
Typical home value $345,300 $331,700 $329,300 $332,700
Typical monthly rent $1,135 $1,370 $1,280 $1,413
Typical yearly household income $124,010 $95,406 $89,062 $80,734
Households that own their home 83% 71% 72% 65%
Typical yearly property tax $4,740 $3,525 $3,357 $3,119
Effective property tax rate 1.37% 1.06% 1.02% 0.94%
Renters with high rent for their income 62% 48% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Olmsted County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Byron

For a typical $345,300 home in Byron, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Byron's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,988a month

    Least cash to close
    Down payment
    $12,086
    Cash to close
    $22,445
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $153

  • Conventional, 5% down $2,924a month

    Down payment
    $17,265
    Cash to close
    $27,624
    Rate
    7.18%
    Mortgage insurance
    PMI · $164

  • Conventional, 20% down, no PMI $2,409a month

    Down payment
    $69,060
    Cash to close
    $79,419
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,729a month

    Down payment
    $51,795
    Cash to close
    $62,154
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Byron and for Olmsted County.

Property tax

Effective rate in Byron

1.37%of the home’s value each year

$4,740 a year for the typical owner in Byron.

  • Byron 1.37%
  • Olmsted 1.06%
  • Minnesota 1.02%

What Minnesota publishes Homestead market value exclusion (Minnesota Office of the Revisor of Statutes (Minnesota Statutes))

Exemptions and deadlines in Minnesota

Flood risk in Olmsted County

FEMA does not publish these numbers by city: they are for all of Olmsted County.

Homes in the high-risk zone
0.4%
226
Of those, with NFIP insurance
16%
County Minnesota U.S.
Homes in the high-risk zone 0.4% 0.7% 3.5%
Of those, with NFIP insurance 16% 17% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Byron

Typical rent in Byron is $1,135 a month: 17% below the county. In Byron, 62% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Olmsted County, by unit size. To pay the 2-bedroom one ($1,422 a month) without spending more than 30% of your income, you would need to earn $27.35 an hour working full time.

HUD fair market rent for all of Olmsted County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,183 $22.75 $47,320
1 bedroom $1,226 $23.58 $49,040
2 bedrooms $1,422 $27.35 $56,880
3 bedrooms $1,969 $37.87 $78,760
4 bedrooms $2,377 $45.71 $95,080

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Byron

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Byron is in ZIP code 55920.

For 2 bedrooms it is $1,270: $152 less than the fair market rent for Olmsted County ($1,422).

  • 55920 $1,270$1,770

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Byron when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Byron

HUD lists one building with rents for lower incomes in Byron.

  • Valley View Estates Multiple Building Addresses, Byron 55920 48 low-income homes · 2 bd: 37 · 3 bd: 11 · In service since 1995

See all 46 buildings in Olmsted County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Byron

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Olmsted County. The nearest ones are below; many serve by phone or online.

A man shakes hands with the specialist who helped him with his loan, in the kitchen of his new home.

HUD counseling is free or low-cost

Assistance programs in Byron

No down payment, repair or rent-help program on our list is for Byron or Olmsted County. The ones below are statewide in Minnesota: they work in Byron the same as in the rest of the state.

Which programs do I qualify for? All programs in Minnesota

  • Deferred Payment Loan (Start Up)

    Statewide in Minnesota

    Minnesota state agency loan for the down payment and closing costs alongside the Start Up mortgage for first-time buyers: up to $14,000 (or $18,000 in the Plus version), with no interest or monthly payments, repaid at the end of the mortgage. Offered by Minnesota Housing (Minnesota Housing Finance Agency).

    Deferred

    See the program Official page

  • Monthly Payment Loan

    Statewide in Minnesota

    Minnesota Housing loan of up to $14,000 for the down payment and closing costs, which you repay over 15 years at the same rate as your Minnesota Housing mortgage; it works with Start Up (first-time buyers) or Step Up. Offered by Minnesota Housing (Minnesota Housing Finance Agency).

    Repayable

    See the program Official page

Housing counselors near Byron

The HUD-approved agencies closest to the center of Byron, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Three Rivers Community Action, Inc.

    1414 Northstar Dr, Zumbrota · 18 miles away · Spanish

    Also serves in other languages.

    • Pre-purchase counseling
    • Homebuyer education workshops
    (507) 696-4025

  • Dakota County Community Development Agency

    1228 Town Centre Dr, Eagan · 60 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 2 more
    (651) 675-4400

  • Washington County Community Development Agency

    7645 Currell Blvd, Woodbury · 63 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (651) 202-2822

All counseling agencies in Minnesota

Help in Spanish near Byron

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Byron

HUD’s record names them for Byron or Olmsted County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Olmsted County Hra Public housing and Section 8 vouchers (507) 328-7150

All housing agencies in Minnesota Source: HUD

Cities

Other cities in Olmsted County

These cities are also in Olmsted County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Olmsted County Housing in Minnesota

Nearby cities

The cities closest to Byron, with the typical home value.

Neighboring counties

If Olmsted County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Byron.

All guides
A man and two girls read a book together on the sofa.

Questions

Housing questions about Byron

Short answers with the numbers for Byron and all of Olmsted County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Byron?

The typical home value in Byron is $345,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Olmsted County it is $331,700.

How much does it cost to rent in Byron?

Typical rent in Byron is $1,135 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Olmsted County is $1,422.

What is the FHA loan limit in Byron?

Byron uses the FHA limit for all of Olmsted County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Byron?

The typical homeowner in Byron pays $4,740 a year, according to the U.S. Census Bureau. That is 1.37% of the home’s value; in Olmsted County, the rate is 1.06%.

Where can I find free help to buy or rent in Byron?

We found no HUD-approved counseling agencies with an office in Olmsted County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).