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Elmore city, MN

ZIP 56027 — Housing & Real Estate

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

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 56027

Median Home Value
$56,800
Median Rent
$523
Affordability Snapshot
$16,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$365/mo PITI).

13%
Rent-to-Income Ratio

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

1.2x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

9.1 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 56027 in Elmore city, MN, a household would need roughly $16,000 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 $365. That sits below the local median household income ($48,214), 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

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
75.8%+16% vs US avg
x
Vacancy Rate
8.7%-15% vs US avg
x
Broadband Access
70.8%-19% vs US avg
x
4+ Bedrooms
3.1%-79% vs US avg
x
Built Pre-1939
8.0%-38% vs US avg
x
Built Post-2014
0.8%-89% vs US avg
x
Rent Burden >30%
7.0%-86% vs US avg
x
Mortgage-Free
66.3%+74% vs US avg
x
$56,800
Home Value
$523
Rent
1952
Year Built
2008
Moved In

Residents have lived here since ~2008 on average

Housing Structure

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

  • 1-unit detached92.8%
  • 1-unit attached1.0%
  • 2-9 units0.0%
  • 10+ units6.2%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$56,800
Median rent$523
Owner-occupied75.8%
Vacant8.7%
Price-to-income1.2x
Est. income to buy$16,000