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These days, finding an affordable place to live in the 55407 area can be challenging. Home prices in 55407 are now at a median cost of $322,936, lower than the Minnesota average of $345,793.
The average cost of rent is $1,488/mo in 55407, primarily driven by the current value of real estate in the 55407 area. In 55407, 41.08% of households rent, and 26.99% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 55407 is $7,258 per month. Households that rent pay about 20.50% of their income on rent here. 55407’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
- 55409, MN: higher priced homes
- 55406, MN: equally priced homes
- 55404, MN: equally priced homes
- 55408, MN: higher priced homes
- 55454, MN: less expensive homes
- 55403, MN: equally priced homes
- 55417, MN: higher priced homes
- 55455, MN: higher priced homes
- 55415, MN: higher priced homes
- 55402, MN: less expensive homes
Zip Codes with Similar Populations
- 11249, NY: higher priced homes
- 10454, NY: higher priced homes
- 63701, MO: less expensive homes
- 48105, MI: higher priced homes
- 48224, MI: less expensive homes
- 53703, WI: higher priced homes
- 54313, WI: equally priced homes
- 55110, MN: higher priced homes
- 60107, IL: less expensive homes
- 60110, IL: less expensive homes
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