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These days, finding an affordable place to live in the 55340 area can be challenging. Home prices in 55340 are now at a median cost of $683,570, higher than the Minnesota average of $345,793.
The average cost of rent is $1,416/mo in 55340, primarily driven by the current value of real estate in the 55340 area. In 55340, 7.29% of households rent, and 26.04% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 55340 is $14,886 per month. Households that rent pay about 9.51% of their income on rent here. 55340’s most expensive areas are in the southern regions, while the cheapest areas are in the northwestern 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
- 55311, MN: less expensive homes
- 55446, MN: less expensive homes
- 55447, MN: less expensive homes
- 55357, MN: less expensive homes
- 55356, MN: higher priced homes
- 55442, MN: less expensive homes
- 55369, MN: less expensive homes
- 55441, MN: less expensive homes
- 55359, MN: less expensive homes
- 55391, MN: higher priced homes
Zip Codes with Similar Populations
- 99022, WA: less expensive homes
- 04096, ME: equally priced homes
- 04468, ME: less expensive homes
- 04736, ME: less expensive homes
- 06907, CT: less expensive homes
- 07656, NJ: equally priced homes
- 07825, NJ: less expensive homes
- 07981, NJ: less expensive homes
- 08086, NJ: less expensive homes
- 56716, MN: less expensive homes
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