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The Lakes CDP, MN

ZIP 56175 — 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 56175

Median Home Value
$154,400
Median Rent
$483
Affordability Snapshot
$43,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$992/mo PITI).

9%
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.

26.6 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 56175 in The Lakes CDP, MN, a household would need roughly $43,000 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 $992. That sits below the local median household income ($66,506), 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 22% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
83.6%+28% vs US avg
x
Vacancy Rate
21.6%+109% vs US avg
x
Broadband Access
82.1%-6% vs US avg
x
4+ Bedrooms
7.5%-49% vs US avg
x
Built Pre-1939
9.3%-28% vs US avg
x
Built Post-2014
0.1%-99% vs US avg
x
Rent Burden >30%
7.3%-85% vs US avg
x
Mortgage-Free
59.7%+56% vs US avg
x
$154,400
Home Value
$483
Rent
1958
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 detached85.5%
  • 1-unit attached2.5%
  • 2-9 units5.8%
  • 10+ units1.7%
  • Mobile home & other4.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$154,400
Median rent$483
Owner-occupied83.6%
Vacant21.6%
Price-to-income2.3x
Est. income to buy$43,000