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These days, finding an affordable place to live in the 56001 area can be challenging. Home prices in 56001 are now at a median cost of $273,817, lower than the Minnesota average of $345,793.
The average cost of rent is $1,284/mo in 56001, primarily driven by the current value of real estate in the 56001 area. In 56001, 45.83% of households rent, and 42.03% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56001 is $6,356 per month. Households that rent pay about 20.21% of their income on rent here. 56001’s most expensive areas are in the northeastern regions, while the cheapest areas are in the northern 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
- 56003, MN: equally priced homes
- 56024, MN: equally priced homes
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- 56080, MN: less expensive homes
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- 56055, MN: less expensive homes
- 56034, MN: equally priced homes
- 56074, MN: equally priced homes
- 56048, MN: equally priced homes
Zip Codes with Similar Populations
- 99336, WA: higher priced homes
- 30236, GA: equally priced homes
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