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These days, finding an affordable place to live in the 56516 area can be challenging. Home prices in 56516 are now at a median cost of $147,931, lower than the Minnesota average of $269,934.
The average cost of rent is $769/mo in 56516, primarily driven by the current value of real estate in the 56516 area. While nearly 58.19% of residents own their homes outright in 56516, 20.50% rent.
Housing affordability isn’t just about home prices, though. The average household income in 56516 is $5,038 per month. Households that rent pay about 15.27% of their income on rent here. 56516's most expensive areas are in the northwestern regions, while the cheapest areas are in the southern parts of the zip.
Nearby Zip Codes
- 56592, MN: higher priced homes
- 56557, MN: less expensive homes
- 56545, MN: less expensive homes
- 56540, MN: higher priced homes
- 56542, MN: equally priced homes
- 56651, MN: equally priced homes
- 56517, MN: equally priced homes
- 56510, MN: less expensive homes
- 56621, MN: equally priced homes
- 56676, MN: higher priced homes
Zip Codes with Similar Populations
- 02872, RI: higher priced homes
- 04226, ME: equally priced homes
- 04231, ME: higher priced homes
- 04624, ME: higher priced homes
- 05031, VT: higher priced homes
- 05850, VT: higher priced homes
- 05858, VT: equally priced homes
- 08329, NJ: higher priced homes
- 67623, KS: less expensive homes
- 68728, NE: less expensive homes
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