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Ivanhoe city, MN

ZIP 56142 — 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 56142

Median Home Value
$87,800
Median Rent
$466
Affordability Snapshot
$24,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$564/mo PITI).

8%
Rent-to-Income Ratio

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

1.3x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

15.7 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 56142 in Ivanhoe city, MN, a household would need roughly $24,000 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 $564. That sits below the local median household income ($65,987), 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 18% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
83.0%+27% vs US avg
x
Vacancy Rate
18.4%+78% vs US avg
x
Broadband Access
87.3%+0% vs US avg
x
4+ Bedrooms
7.6%-48% vs US avg
x
Built Pre-1939
8.8%-31% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
13.8%-72% vs US avg
x
Mortgage-Free
65.2%+71% vs US avg
x
$87,800
Home Value
$466
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 detached86.1%
  • 1-unit attached0.2%
  • 2-9 units9.4%
  • 10+ units2.3%
  • Mobile home & other2.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$87,800
Median rent$466
Owner-occupied83.0%
Vacant18.4%
Price-to-income1.3x
Est. income to buy$24,000