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These days, finding an affordable place to live in the 56160 area can be challenging. Home prices in 56160 are now at a median cost of $250,961, lower than the Minnesota average of $345,793.
The average cost of rent is $1,207/mo in 56160, primarily driven by the current value of real estate in the 56160 area. In 56160, 8.21% of households rent, and 62.85% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56160 is $6,164 per month. Households that rent pay about 19.58% of their income on rent here. 56160’s most expensive areas are in the northern regions, while the cheapest areas are in the southern 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
- 56162, MN: equally priced homes
- 56176, MN: less expensive homes
- 56120, MN: less expensive homes
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- 56081, MN: less expensive homes
- 56118, MN: equally priced homes
- 56088, MN: less expensive homes
- 56060, MN: less expensive homes
- 56101, MN: less expensive homes
- 56075, MN: less expensive homes
Zip Codes with Similar Populations
- 99781, AK: less expensive homes
- 83520, ID: higher priced homes
- 82831, WY: higher priced homes
- 84734, UT: higher priced homes
- 82441, WY: higher priced homes
- 85328, AZ: less expensive homes
- 81640, CO: less expensive homes
- 81049, CO: equally priced homes
- 79730, TX: less expensive homes
- 15721, PA: less expensive homes
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