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These days, finding an affordable place to live in the 56045 area can be challenging. Home prices in 56045 are now at a median cost of $206,838, lower than the Minnesota average of $345,793.
The average cost of rent is $627/mo in 56045, primarily driven by the current value of real estate in the 56045 area. In 56045, 10.81% of households rent, and 41.19% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56045 is $6,602 per month. Households that rent pay about 9.49% of their income on rent here. 56045’s most expensive areas are in the northern regions, while the cheapest areas are in the southern 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
- 56035, MN: equally priced homes
- 56016, MN: equally priced homes
- 56043, MN: less expensive homes
- 56026, MN: equally priced homes
- 55917, MN: equally priced homes
- 56007, MN: less expensive homes
- 55950, MN: higher priced homes
- 55912, MN: less expensive homes
- 56042, MN: equally priced homes
- 55982, MN: higher priced homes
Zip Codes with Similar Populations
- 03771, NH: higher priced homes
- 97326, OR: higher priced homes
- 05150, VT: less expensive homes
- 05155, VT: higher priced homes
- 05474, VT: higher priced homes
- 05872, VT: higher priced homes
- 08247, NJ: higher priced homes
- 92347, CA: equally priced homes
- 16405, PA: less expensive homes
- 62985, IL: less expensive homes
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