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These days, finding an affordable place to live in the 56551 area can be challenging. Home prices in 56551 are now at a median cost of $271,914, lower than the Minnesota average of $345,793.
The average cost of rent is $1,048/mo in 56551, primarily driven by the current value of real estate in the 56551 area. In 56551, 19.86% of households rent, and 45.10% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56551 is $5,810 per month. Households that rent pay about 18.03% of their income on rent here. 56551’s most expensive areas are in the northwestern 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
- 56588, MN: higher priced homes
- 56527, MN: less expensive homes
- 56524, MN: higher priced homes
- 56571, MN: higher priced homes
- 56515, MN: higher priced homes
- 56576, MN: higher priced homes
- 56518, MN: less expensive homes
- 56453, MN: less expensive homes
- 56482, MN: less expensive homes
- 56586, MN: higher priced homes
Zip Codes with Similar Populations
- 66088, KS: less expensive homes
- 03447, NH: equally priced homes
- 86512, AZ: less expensive homes
- 71071, LA: less expensive homes
- 14033, NY: higher priced homes
- 77364, TX: equally priced homes
- 62910, IL: less expensive homes
- 17086, PA: less expensive homes
- 31738, GA: less expensive homes
- 75973, TX: less expensive homes
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