US5.com
  1. Home
  2. States
  3. Minnesota
  4. ZIP 55604
  5. Housing & Real Estate
Grand Marais city, MN

ZIP 55604 — Housing & Real Estate

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

Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 55604

Median Home Value
$307,100
Median Rent
$786
Affordability Snapshot
$85,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,973/mo PITI).

13%
Rent-to-Income Ratio

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

4.3x
Home Price-to-Income Ratio

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

32.6 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 55604 in Grand Marais city, MN, a household would need roughly $85,000 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 $1,973. That is about 19% above the local median household income ($71,458), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 49% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
80.1%+22% vs US avg
x
Vacancy Rate
49.4%+379% vs US avg
x
Broadband Access
94.2%+8% vs US avg
x
4+ Bedrooms
1.0%-93% vs US avg
x
Built Pre-1939
7.3%-43% vs US avg
x
Built Post-2014
0.4%-94% vs US avg
x
Rent Burden >30%
7.8%-84% vs US avg
x
Mortgage-Free
45.1%+18% vs US avg
x
$307,100
Home Value
$786
Rent
1980
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 detached91.9%
  • 1-unit attached1.6%
  • 2-9 units3.1%
  • 10+ units3.4%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$307,100
Median rent$786
Owner-occupied80.1%
Vacant49.4%
Price-to-income4.3x
Est. income to buy$85,000