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These days, finding an affordable place to live in the 56716 area can be challenging. Home prices in 56716 are now at a median cost of $195,828, lower than the Minnesota average of $345,793.
The average cost of rent is $931/mo in 56716, primarily driven by the current value of real estate in the 56716 area. In 56716, 38.40% of households rent, and 44.85% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 56716 is $5,288 per month. Households that rent pay about 17.61% of their income on rent here. 56716’s most expensive areas are in the northwestern regions, while the cheapest areas are in the western 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
- 56723, MN: higher priced homes
- 56523, MN: equally priced homes
- 56750, MN: less expensive homes
- 56736, MN: higher priced homes
- 58201, ND: higher priced homes
- 58278, ND: higher priced homes
- 58275, ND: higher priced homes
- 56535, MN: equally priced homes
- 56715, MN: less expensive homes
- 56556, MN: less expensive homes
Zip Codes with Similar Populations
- 60449, IL: higher priced homes
- 75495, TX: higher priced homes
- 73075, OK: less expensive homes
- 72560, AR: less expensive homes
- 72405, AR: higher priced homes
- 70345, LA: equally priced homes
- 70113, LA: higher priced homes
- 67152, KS: less expensive homes
- 67052, KS: higher priced homes
- 66547, KS: higher priced homes
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