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These days, finding an affordable place to live in the 55040 area can be challenging. Home prices in 55040 are now at a median cost of $232,021, lower than the Minnesota average of $269,934.
The average cost of rent is $1,034/mo in 55040, primarily driven by the current value of real estate in the 55040 area. While nearly 27.61% of residents own their homes outright in 55040, 14.86% rent.
Housing affordability isn’t just about home prices, though. The average household income in 55040 is $6,832 per month. Households that rent pay about 15.14% of their income on rent here. 55040's most expensive areas are in the southeastern regions, while the cheapest areas are in the northern parts of the zip.
Nearby Zip Codes
- 55008, MN: equally priced homes
- 55005, MN: higher priced homes
- 55070, MN: equally priced homes
- 55011, MN: higher priced homes
- 55079, MN: equally priced homes
- 55056, MN: equally priced homes
- 55032, MN: higher priced homes
- 55092, MN: higher priced homes
- 55398, MN: higher priced homes
- 55371, MN: equally priced homes
Zip Codes with Similar Populations
- 98951, WA: less expensive homes
- 71953, AR: less expensive homes
- 34947, FL: less expensive homes
- 38635, MS: less expensive homes
- 39183, MS: less expensive homes
- 40444, KY: less expensive homes
- 00717, PR: less expensive homes
- 41143, KY: less expensive homes
- 43210, OH: equally priced homes
- 43545, OH: less expensive homes
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