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These days, finding an affordable place to live in the 56116 area can be challenging. Home prices in 56116 are now at a median cost of $206,084, lower than the Minnesota average of $269,934.
The average cost of rent is $587/mo in 56116, primarily driven by the current value of real estate in the 56116 area. While nearly 44.95% of residents own their homes outright in 56116, 14.41% rent.
Housing affordability isn’t just about home prices, though. The average household income in 56116 is $6,896 per month. Households that rent pay about 8.51% of their income on rent here. 56116's most expensive areas are in the central regions, while the cheapest areas are in the western parts of the zip.
Nearby Zip Codes
- 56138, MN: less expensive homes
- 57068, SD: less expensive homes
- 56156, MN: less expensive homes
- 56173, MN: less expensive homes
- 57005, SD: higher priced homes
- 57030, SD: equally priced homes
- 56146, MN: equally priced homes
- 56134, MN: less expensive homes
- 56158, MN: equally priced homes
- 57110, SD: higher priced homes
Zip Codes with Similar Populations
- 41360, KY: less expensive homes
- 97870, OR: higher priced homes
- 47535, IN: less expensive homes
- 47335, IN: less expensive homes
- 45330, OH: less expensive homes
- 45062, OH: less expensive homes
- 44815, OH: less expensive homes
- 43407, OH: less expensive homes
- 43323, OH: less expensive homes
- 43157, OH: higher priced homes
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