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Hanley Falls city, MN

ZIP 56245 — 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 56245

Median Home Value
$150,000
Median Rent
$500
Affordability Snapshot
$41,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$964/mo PITI).

7%
Rent-to-Income Ratio

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

1.8x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

25.0 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 56245 in Hanley Falls city, MN, a household would need roughly $41,000 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 $964. That sits below the local median household income ($82,679), 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 11% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
71.8%+10% vs US avg
x
Vacancy Rate
11.4%+11% vs US avg
x
Broadband Access
83.3%-4% vs US avg
x
4+ Bedrooms
8.9%-40% vs US avg
x
Built Pre-1939
2.5%-80% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
10.2%-80% vs US avg
x
Mortgage-Free
54.0%+41% vs US avg
x
$150,000
Home Value
$500
Rent
1959
Year Built
2010
Moved In

Residents have lived here since ~2010 on average

Housing Structure

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

  • 1-unit detached81.4%
  • 1-unit attached0.4%
  • 2-9 units0.0%
  • 10+ units13.6%
  • Mobile home & other4.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$150,000
Median rent$500
Owner-occupied71.8%
Vacant11.4%
Price-to-income1.8x
Est. income to buy$41,000