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These days, finding an affordable place to live in the 56216 area can be challenging. Home prices in 56216 are now at a median cost of $175,580, lower than the Minnesota average of $345,793.
The average cost of rent is $1,484/mo in 56216, primarily driven by the current value of real estate in the 56216 area. In 56216, 9.83% of households rent, and 43.05% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56216 is $7,231 per month. Households that rent pay about 20.52% of their income on rent here. 56216’s most expensive areas are in the southeastern 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
- 56281, MN: higher priced homes
- 56253, MN: higher priced homes
- 56282, MN: higher priced homes
- 56222, MN: equally priced homes
- 56228, MN: equally priced homes
- 56260, MN: higher priced homes
- 56241, MN: equally priced homes
- 55324, MN: higher priced homes
- 56265, MN: equally priced homes
- 55350, MN: higher priced homes
Zip Codes with Similar Populations
- 35183, AL: less expensive homes
- 55798, MN: higher priced homes
- 50558, IA: less expensive homes
- 50029, IA: less expensive homes
- 43029, OH: higher priced homes
- 41855, KY: less expensive homes
- 41528, KY: less expensive homes
- 41352, KY: less expensive homes
- 40862, KY: less expensive homes
- 40310, KY: higher priced homes
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