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These days, finding an affordable place to live in the 56540 area can be challenging. Home prices in 56540 are now at a median cost of $200,489, lower than the Minnesota average of $345,793.
The average cost of rent is $841/mo in 56540, primarily driven by the current value of real estate in the 56540 area. In 56540, 16.92% of households rent, and 52.02% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56540 is $6,891 per month. Households that rent pay about 12.21% of their income on rent here. 56540’s most expensive areas are in the northeastern 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
- 56736, MN: higher priced homes
- 56517, MN: less expensive homes
- 56592, MN: less expensive homes
- 56535, MN: equally priced homes
- 56516, MN: less expensive homes
- 56556, MN: less expensive homes
- 56542, MN: equally priced homes
- 56568, MN: less expensive homes
- 56581, MN: less expensive homes
- 56523, MN: equally priced homes
Zip Codes with Similar Populations
- 04965, ME: less expensive homes
- 98850, WA: higher priced homes
- 97136, OR: higher priced homes
- 97067, OR: higher priced homes
- 97018, OR: higher priced homes
- 81120, CO: higher priced homes
- 78650, TX: higher priced homes
- 76245, TX: higher priced homes
- 74051, OK: equally priced homes
- 74038, OK: less expensive homes
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