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These days, finding an affordable place to live in the 56114 area can be challenging. Home prices in 56114 are now at a median cost of $170,007, lower than the Minnesota average of $345,793.
The average cost of rent is $1,080/mo in 56114, primarily driven by the current value of real estate in the 56114 area. In 56114, 19.64% of households rent, and 57.96% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56114 is $5,897 per month. Households that rent pay about 18.32% of their income on rent here. 56114’s most expensive areas are in the northwestern 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
- 56125, MN: equally priced homes
- 56131, MN: equally priced homes
- 56172, MN: higher priced homes
- 56123, MN: equally priced homes
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- 56183, MN: less expensive homes
- 56174, MN: less expensive homes
- 56151, MN: equally priced homes
- 56122, MN: equally priced homes
- 56137, MN: less expensive homes
Zip Codes with Similar Populations
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- 57644, SD: less expensive homes
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- 68950, NE: higher priced homes
- 69167, NE: less expensive homes
- 71724, AR: less expensive homes
- 71972, AR: less expensive homes
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