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These days, finding an affordable place to live in the 56231 area can be challenging. Home prices in 56231 are now at a median cost of $220,000, lower than the Minnesota average of $345,793.
The average cost of rent is $1,144/mo in 56231, primarily driven by the current value of real estate in the 56231 area. In 56231, 8.53% of households rent, and 52.07% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56231 is $8,368 per month. Households that rent pay about 13.67% of their income on rent here. 56231’s most expensive areas are in the central 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
- 56249, MN: less expensive homes
- 56215, MN: less expensive homes
- 56226, MN: higher priced homes
- 56262, MN: less expensive homes
- 56208, MN: less expensive homes
- 56271, MN: equally priced homes
- 56227, MN: less expensive homes
- 56252, MN: less expensive homes
- 56276, MN: less expensive homes
- 56289, MN: higher priced homes
Zip Codes with Similar Populations
- 71859, AR: less expensive homes
- 52077, IA: less expensive homes
- 52313, IA: higher priced homes
- 52630, IA: equally priced homes
- 53016, WI: equally priced homes
- 56155, MN: less expensive homes
- 56356, MN: equally priced homes
- 57324, SD: higher priced homes
- 71021, LA: less expensive homes
- 71758, AR: less expensive homes
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