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These days, finding an affordable place to live in the 56501 area can be challenging. Home prices in 56501 are now at a median cost of $311,867, lower than the Minnesota average of $345,793.
The average cost of rent is $1,094/mo in 56501, primarily driven by the current value of real estate in the 56501 area. In 56501, 29.60% of households rent, and 37.29% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56501 is $6,424 per month. Households that rent pay about 17.03% of their income on rent here. 56501’s most expensive areas are in the southwestern 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
- 56511, MN: higher priced homes
- 56544, MN: less expensive homes
- 56578, MN: equally priced homes
- 56577, MN: less expensive homes
- 56521, MN: less expensive homes
- 56554, MN: higher priced homes
- 56552, MN: less expensive homes
- 56549, MN: equally priced homes
- 56570, MN: less expensive homes
- 56464, MN: less expensive homes
Zip Codes with Similar Populations
- 55376, MN: higher priced homes
- 34685, FL: higher priced homes
- 35757, AL: higher priced homes
- 36201, AL: less expensive homes
- 00772, PR: less expensive homes
- 38732, MS: less expensive homes
- 39507, MS: less expensive homes
- 41075, KY: equally priced homes
- 44110, OH: less expensive homes
- 44123, OH: less expensive homes
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