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Affordable
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These days, finding an affordable place to live in the 55316 area can be challenging. Home prices in 55316 are now at a median cost of $373,934, higher than the Minnesota average of $345,793.
The average cost of rent is $1,785/mo in 55316, primarily driven by the current value of real estate in the 55316 area. In 55316, 11.92% of households rent, and 27.66% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 55316 is $9,520 per month. Households that rent pay about 18.75% of their income on rent here. 55316’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southern 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
- 55433, MN: less expensive homes
- 55445, MN: equally priced homes
- 55327, MN: higher priced homes
- 55443, MN: equally priced homes
- 55369, MN: equally priced homes
- 55448, MN: less expensive homes
- 55303, MN: equally priced homes
- 55444, MN: less expensive homes
- 55434, MN: less expensive homes
- 55311, MN: higher priced homes
Zip Codes with Similar Populations
- 03431, NH: less expensive homes
- 06042, CT: less expensive homes
- 07016, NJ: higher priced homes
- 08037, NJ: less expensive homes
- 08088, NJ: equally priced homes
- 08638, NJ: less expensive homes
- 13069, NY: less expensive homes
- 15136, PA: less expensive homes
- 23324, VA: less expensive homes
- 24017, VA: less expensive homes
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