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These days, finding an affordable place to live in the 55016 area can be challenging. Home prices in 55016 are now at a median cost of $309,672, higher than the Minnesota average of $269,934.
The average cost of rent is $1,838/mo in 55016, primarily driven by the current value of real estate in the 55016 area. While nearly 25.93% of residents own their homes outright in 55016, 13.68% rent.
Housing affordability isn’t just about home prices, though. The average household income in 55016 is $9,609 per month. Households that rent pay about 19.13% of their income on rent here. 55016's most expensive areas are in the northern regions, while the cheapest areas are in the western parts of the zip.
Nearby Zip Codes
- 55071, MN: less expensive homes
- 55055, MN: less expensive homes
- 55076, MN: less expensive homes
- 55129, MN: higher priced homes
- 55125, MN: equally priced homes
- 55075, MN: less expensive homes
- 55077, MN: higher priced homes
- 55001, MN: higher priced homes
- 55033, MN: equally priced homes
- 55119, MN: less expensive homes
Zip Codes with Similar Populations
- 60060, IL: less expensive homes
- 17013, PA: less expensive homes
- 40272, KY: less expensive homes
- 45342, OH: less expensive homes
- 89141, NV: higher priced homes
- 72023, AR: less expensive homes
- 63011, MO: equally priced homes
- 94404, CA: higher priced homes
- 60101, IL: less expensive homes
- 00728, PR: less expensive homes
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