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Lake City city, MN

ZIP 55041 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 55041

Median Home Value
$265,300
Median Rent
$771
Affordability Snapshot
$73,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,704/mo PITI).

11%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.2x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

28.7 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 55041 in Lake City city, MN, a household would need roughly $73,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,704. That sits below the local median household income ($83,673), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 14% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
82.5%+26% vs US avg
x
Vacancy Rate
14.3%+38% vs US avg
x
Broadband Access
86.7%-0% vs US avg
x
4+ Bedrooms
4.3%-71% vs US avg
x
Built Pre-1939
4.0%-69% vs US avg
x
Built Post-2014
0.6%-92% vs US avg
x
Rent Burden >30%
26.4%-47% vs US avg
x
Mortgage-Free
42.1%+10% vs US avg
x
$265,300
Home Value
$771
Rent
1976
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached70.3%
  • 1-unit attached6.5%
  • 2-9 units5.0%
  • 10+ units9.2%
  • Mobile home & other9.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$265,300
Median rent$771
Owner-occupied82.5%
Vacant14.3%
Price-to-income3.2x
Est. income to buy$73,000