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These days, finding an affordable place to live in the 55408 area can be challenging. Home prices in 55408 are now at a median cost of $422,037, higher than the Minnesota average of $345,793.
The average cost of rent is $1,374/mo in 55408, primarily driven by the current value of real estate in the 55408 area. In 55408, 76.60% of households rent, and 27.10% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 55408 is $6,160 per month. Households that rent pay about 22.30% of their income on rent here. 55408’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northeastern 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: equally priced homes
- 55403, MN: less expensive homes
- 55405, MN: higher priced homes
- 55404, MN: less expensive homes
- 55407, MN: less expensive homes
- 55402, MN: less expensive homes
- 55415, MN: higher priced homes
- 55454, MN: less expensive homes
- 55416, MN: higher priced homes
- 55401, MN: equally priced homes
Zip Codes with Similar Populations
- 61008, IL: less expensive homes
- 44601, OH: less expensive homes
- 46516, IN: less expensive homes
- 46526, IN: less expensive homes
- 48073, MI: less expensive homes
- 00698, PR: less expensive homes
- 96001, CA: equally priced homes
- 94545, CA: higher priced homes
- 93060, CA: higher priced homes
- 46260, IN: less expensive homes
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