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These days, finding an affordable place to live in the 56340 area can be challenging. Home prices in 56340 are now at a median cost of $301,225, lower than the Minnesota average of $345,793.
The average cost of rent is $956/mo in 56340, primarily driven by the current value of real estate in the 56340 area. In 56340, 7.80% of households rent, and 45.17% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56340 is $7,888 per month. Households that rent pay about 12.11% of their income on rent here. 56340’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northwestern 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
- 56314, MN: less expensive homes
- 56384, MN: less expensive homes
- 56310, MN: equally priced homes
- 56375, MN: higher priced homes
- 56307, MN: equally priced homes
- 56373, MN: equally priced homes
- 56367, MN: equally priced homes
- 56331, MN: equally priced homes
- 56318, MN: less expensive homes
- 56377, MN: equally priced homes
Zip Codes with Similar Populations
- 67663, KS: less expensive homes
- 39664, MS: less expensive homes
- 43217, OH: less expensive homes
- 44429, OH: less expensive homes
- 44637, OH: less expensive homes
- 45054, OH: higher priced homes
- 45715, OH: less expensive homes
- 03814, NH: equally priced homes
- 49339, MI: less expensive homes
- 50207, IA: less expensive homes
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