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These days, finding an affordable place to live in the 56245 area can be challenging. Home prices in 56245 are now at a median cost of $205,584, lower than the Minnesota average of $345,793.
The average cost of rent is $680/mo in 56245, primarily driven by the current value of real estate in the 56245 area. In 56245, 22.82% of households rent, and 52.39% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56245 is $7,584 per month. Households that rent pay about 8.96% of their income on rent here. 56245’s most expensive areas are in the central regions, while the cheapest areas are in the northern 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
- 56297, MN: less expensive homes
- 56229, MN: equally priced homes
- 56223, MN: less expensive homes
- 56237, MN: less expensive homes
- 56285, MN: less expensive homes
- 56292, MN: less expensive homes
- 56214, MN: equally priced homes
- 56239, MN: equally priced homes
- 56264, MN: less expensive homes
- 56291, MN: less expensive homes
Zip Codes with Similar Populations
- 44653, OH: less expensive homes
- 50544, IA: less expensive homes
- 98619, WA: higher priced homes
- 99034, WA: higher priced homes
- 49965, MI: equally priced homes
- 99140, WA: less expensive homes
- 49927, MI: less expensive homes
- 49838, MI: equally priced homes
- 99659, AK: less expensive homes
- 47857, IN: less expensive homes
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