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Canby city, MN

ZIP 56220 — 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 56220

Median Home Value
$162,500
Median Rent
$448
Affordability Snapshot
$45,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,044/mo PITI).

9%
Rent-to-Income Ratio

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

2.7x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

30.2 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 56220 in Canby city, MN, a household would need roughly $45,000 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 $1,044. That sits below the local median household income ($60,185), 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 15% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
86.7%+33% vs US avg
x
Vacancy Rate
14.9%+44% vs US avg
x
Broadband Access
85.0%-2% vs US avg
x
4+ Bedrooms
10.3%-30% vs US avg
x
Built Pre-1939
8.2%-36% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
9.0%-82% vs US avg
x
Mortgage-Free
58.3%+53% vs US avg
x
$162,500
Home Value
$448
Rent
1959
Year Built
2007
Moved In

Residents have lived here since ~2007 on average

Housing Structure

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

  • 1-unit detached85.1%
  • 1-unit attached0.9%
  • 2-9 units5.4%
  • 10+ units6.4%
  • Mobile home & other2.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$162,500
Median rent$448
Owner-occupied86.7%
Vacant14.9%
Price-to-income2.7x
Est. income to buy$45,000