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Minnesota Lake city, MN

ZIP 56068 — 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 56068

Median Home Value
$160,400
Median Rent
$573
Affordability Snapshot
$44,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,030/mo PITI).

10%
Rent-to-Income Ratio

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

2.3x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

23.3 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 56068 in Minnesota Lake city, MN, a household would need roughly $44,000 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 $1,030. That sits below the local median household income ($68,988), 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
76.4%+17% vs US avg
x
Vacancy Rate
8.3%-19% vs US avg
x
Broadband Access
91.8%+6% vs US avg
x
4+ Bedrooms
12.3%-17% vs US avg
x
Built Pre-1939
7.5%-42% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
13.5%-73% vs US avg
x
Mortgage-Free
43.6%+14% vs US avg
x
$160,400
Home Value
$573
Rent
1956
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 detached93.3%
  • 1-unit attached1.0%
  • 2-9 units4.2%
  • 10+ units0.6%
  • Mobile home & other0.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$160,400
Median rent$573
Owner-occupied76.4%
Vacant8.3%
Price-to-income2.3x
Est. income to buy$44,000