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These days, finding an affordable place to live in the 56050 area can be challenging. Home prices in 56050 are now at a median cost of $339,842, lower than the Minnesota average of $345,793.
The average cost of rent is $802/mo in 56050, primarily driven by the current value of real estate in the 56050 area. In 56050, 13.58% of households rent, and 35.95% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56050 is $7,413 per month. Households that rent pay about 10.81% of their income on rent here. 56050’s most expensive areas are in the southeastern regions, while the cheapest areas are in the central 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
- 56082, MN: less expensive homes
- 56017, MN: equally priced homes
- 56063, MN: higher priced homes
- 56003, MN: less expensive homes
- 56001, MN: less expensive homes
- 56024, MN: less expensive homes
- 56074, MN: less expensive homes
- 56028, MN: equally priced homes
- 56057, MN: less expensive homes
- 56048, MN: less expensive homes
Zip Codes with Similar Populations
- 76693, TX: less expensive homes
- 28421, NC: less expensive homes
- 29471, SC: less expensive homes
- 30537, GA: less expensive homes
- 31042, GA: less expensive homes
- 32336, FL: less expensive homes
- 35136, AL: less expensive homes
- 37050, TN: less expensive homes
- 46165, IN: less expensive homes
- 75487, TX: less expensive homes
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