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These days, finding an affordable place to live in the 55031 area can be challenging. Home prices in 55031 are now at a median cost of $406,616, higher than the Minnesota average of $345,793.
The average cost of rent is $1,105/mo in 55031, primarily driven by the current value of real estate in the 55031 area. In 55031, 6.41% of households rent, and 38.29% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 55031 is $9,301 per month. Households that rent pay about 11.88% of their income on rent here. 55031’s most expensive areas are in the southern regions, while the cheapest areas are in the central parts of the zip.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Zip Codes
- 55085, MN: equally priced homes
- 55065, MN: higher priced homes
- 55024, MN: equally priced homes
- 55033, MN: less expensive homes
- 55068, MN: equally priced homes
- 55089, MN: less expensive homes
- 55124, MN: equally priced homes
- 55044, MN: higher priced homes
- 54021, WI: less expensive homes
- 55306, MN: equally priced homes
Zip Codes with Similar Populations
- 12958, NY: less expensive homes
- 14767, NY: less expensive homes
- 15724, PA: less expensive homes
- 15747, PA: less expensive homes
- 73048, OK: less expensive homes
- 76578, TX: less expensive homes
- 72642, AR: less expensive homes
- 72619, AR: less expensive homes
- 68832, NE: less expensive homes
- 63967, MO: less expensive homes
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