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These days, finding an affordable place to live in the 56003 area can be challenging. Home prices in 56003 are now at a median cost of $296,185, lower than the Minnesota average of $345,793.
The average cost of rent is $1,096/mo in 56003, primarily driven by the current value of real estate in the 56003 area. In 56003, 28.80% of households rent, and 35.76% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56003 is $7,359 per month. Households that rent pay about 14.90% of their income on rent here. 56003’s most expensive areas are in the northeastern regions, while the cheapest areas are in the eastern 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
- 56001, MN: equally priced homes
- 56050, MN: higher priced homes
- 56024, MN: equally priced homes
- 56055, MN: less expensive homes
- 56037, MN: equally priced homes
- 56074, MN: equally priced homes
- 56063, MN: higher priced homes
- 56080, MN: less expensive homes
- 56034, MN: less expensive homes
- 56021, MN: equally priced homes
Zip Codes with Similar Populations
- 03064, NH: higher priced homes
- 55344, MN: higher priced homes
- 75054, TX: higher priced homes
- 74110, OK: less expensive homes
- 74070, OK: less expensive homes
- 71006, LA: higher priced homes
- 64060, MO: higher priced homes
- 63074, MO: less expensive homes
- 59912, MT: higher priced homes
- 56187, MN: less expensive homes
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