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Milan city, MN

ZIP 56262 — 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 56262

Median Home Value
$101,300
Median Rent
$557
Affordability Snapshot
$28,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$651/mo PITI).

8%
Rent-to-Income Ratio

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

1.2x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

15.2 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 56262 in Milan city, MN, a household would need roughly $28,000 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 $651. That sits below the local median household income ($85,156), 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 17% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
85.0%+30% vs US avg
x
Vacancy Rate
17.2%+67% vs US avg
x
Broadband Access
86.3%-1% vs US avg
x
4+ Bedrooms
7.9%-47% vs US avg
x
Built Pre-1939
3.1%-76% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
9.1%-82% vs US avg
x
Mortgage-Free
64.3%+68% vs US avg
x
$101,300
Home Value
$557
Rent
1938
Year Built
2004
Moved In

Residents have lived here since ~2004 on average

Housing Structure

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

  • 1-unit detached94.4%
  • 1-unit attached0.3%
  • 2-9 units4.0%
  • 10+ units0.0%
  • Mobile home & other1.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$101,300
Median rent$557
Owner-occupied85.0%
Vacant17.2%
Price-to-income1.2x
Est. income to buy$28,000