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These days, finding an affordable place to live in the 56511 area can be challenging. Home prices in 56511 are now at a median cost of $387,845, higher than the Minnesota average of $345,793.
The average cost of rent is $893/mo in 56511, primarily driven by the current value of real estate in the 56511 area. In 56511, 11.16% of households rent, and 43.70% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56511 is $7,982 per month. Households that rent pay about 11.19% of their income on rent here. 56511’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
- 56554, MN: equally priced homes
- 56501, MN: less expensive homes
- 56521, MN: less expensive homes
- 56577, MN: less expensive homes
- 56549, MN: less expensive homes
- 56552, MN: less expensive homes
- 56578, MN: less expensive homes
- 56544, MN: less expensive homes
- 56547, MN: less expensive homes
- 56580, MN: less expensive homes
Zip Codes with Similar Populations
- 04562, ME: less expensive homes
- 04694, ME: less expensive homes
- 57430, SD: less expensive homes
- 39851, GA: less expensive homes
- 41553, KY: less expensive homes
- 03887, NH: less expensive homes
- 43071, OH: less expensive homes
- 97465, OR: less expensive homes
- 94511, CA: higher priced homes
- 92281, CA: less expensive homes
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