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Affordable
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These days, finding an affordable place to live in the 56294 area can be challenging. Home prices in 56294 are now at a median cost of $242,400, lower than the Minnesota average of $345,793.
The average cost of rent is $983/mo in 56294, primarily driven by the current value of real estate in the 56294 area. In 56294, 11.07% of households rent, and 68.27% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56294 is $6,979 per month. Households that rent pay about 14.08% of their income on rent here. 56294’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
- 56152, MN: less expensive homes
- 56293, MN: less expensive homes
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- 56287, MN: less expensive homes
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- 56180, MN: less expensive homes
- 56266, MN: less expensive homes
Zip Codes with Similar Populations
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- 72424, AR: less expensive homes
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