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These days, finding an affordable place to live in the 56111 area can be challenging. Home prices in 56111 are now at a median cost of $170,091, lower than the Minnesota average of $345,793.
The average cost of rent is $842/mo in 56111, primarily driven by the current value of real estate in the 56111 area. In 56111, 15.32% of households rent, and 51.02% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56111 is $7,929 per month. Households that rent pay about 10.62% of their income on rent here. 56111’s most expensive areas are in the northern 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
- 56143, MN: equally priced homes
- 56171, MN: equally priced homes
- 56127, MN: less expensive homes
- 56176, MN: less expensive homes
- 56181, MN: equally priced homes
- 56121, MN: less expensive homes
- 56150, MN: equally priced homes
- 56031, MN: higher priced homes
- 56161, MN: equally priced homes
- 56075, MN: higher priced homes
Zip Codes with Similar Populations
- 58845, ND: higher priced homes
- 57750, SD: less expensive homes
- 58011, ND: higher priced homes
- 58031, ND: equally priced homes
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- 58327, ND: higher priced homes
- 58416, ND: less expensive homes
- 58461, ND: higher priced homes
- 58492, ND: higher priced homes
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