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These days, finding an affordable place to live in the 56531 area can be challenging. Home prices in 56531 are now at a median cost of $164,800, lower than the Minnesota average of $345,793.
The average cost of rent is $750/mo in 56531, primarily driven by the current value of real estate in the 56531 area. In 56531, 24.52% of households rent, and 47.98% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56531 is $5,681 per month. Households that rent pay about 13.20% of their income on rent here. 56531’s most expensive areas are in the southeastern 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
- 56311, MN: higher priced homes
- 56590, MN: higher priced homes
- 56309, MN: higher priced homes
- 56339, MN: higher priced homes
- 56326, MN: higher priced homes
- 56274, MN: higher priced homes
- 56248, MN: higher priced homes
- 56565, MN: equally priced homes
- 56315, MN: higher priced homes
- 56583, MN: higher priced homes
Zip Codes with Similar Populations
- 12501, NY: higher priced homes
- 13416, NY: higher priced homes
- 16877, PA: higher priced homes
- 66052, KS: higher priced homes
- 67522, KS: less expensive homes
- 65571, MO: equally priced homes
- 64742, MO: higher priced homes
- 63937, MO: higher priced homes
- 60938, IL: less expensive homes
- 57570, SD: less expensive homes
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