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These days, finding an affordable place to live in the 56120 area can be challenging. Home prices in 56120 are now at a median cost of $137,045, lower than the Minnesota average of $345,793.
The average cost of rent is $803/mo in 56120, primarily driven by the current value of real estate in the 56120 area. In 56120, 11.51% of households rent, and 63.98% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56120 is $5,744 per month. Households that rent pay about 13.98% of their income on rent here. 56120’s most expensive areas are in the southern 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
- 56022, MN: higher priced homes
- 56159, MN: higher priced homes
- 56160, MN: higher priced homes
- 56081, MN: higher priced homes
- 56162, MN: higher priced homes
- 56118, MN: higher priced homes
- 56056, MN: higher priced homes
- 56101, MN: higher priced homes
- 56060, MN: higher priced homes
- 56062, MN: higher priced homes
Zip Codes with Similar Populations
- 51466, IA: higher priced homes
- 79052, TX: less expensive homes
- 77456, TX: equally priced homes
- 76621, TX: higher priced homes
- 74957, OK: equally priced homes
- 56041, MN: higher priced homes
- 55941, MN: higher priced homes
- 54836, WI: higher priced homes
- 54442, WI: higher priced homes
- 52209, IA: higher priced homes
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