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These days, finding an affordable place to live in the 55118 area can be challenging. Home prices in 55118 are now at a median cost of $351,863, higher than the Minnesota average of $345,793.
The average cost of rent is $1,567/mo in 55118, primarily driven by the current value of real estate in the 55118 area. In 55118, 35.54% of households rent, and 33.52% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 55118 is $7,959 per month. Households that rent pay about 19.69% of their income on rent here. 55118’s most expensive areas are in the western regions, while the cheapest areas are in the southeastern 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
- 55107, MN: less expensive homes
- 55102, MN: equally priced homes
- 55120, MN: higher priced homes
- 55075, MN: less expensive homes
- 55101, MN: less expensive homes
- 55150, MN: higher priced homes
- 55116, MN: higher priced homes
- 55105, MN: higher priced homes
- 55103, MN: less expensive homes
- 55077, MN: higher priced homes
Zip Codes with Similar Populations
- 06410, CT: higher priced homes
- 08055, NJ: higher priced homes
- 08755, NJ: higher priced homes
- 11530, NY: higher priced homes
- 11725, NY: higher priced homes
- 15010, PA: less expensive homes
- 18045, PA: equally priced homes
- 19103, PA: higher priced homes
- 46804, IN: less expensive homes
- 63640, MO: less expensive homes
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