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Freeport city, MN

ZIP 56331 — 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 56331

Median Home Value
$270,300
Median Rent
$656
Affordability Snapshot
$74,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,736/mo PITI).

9%
Rent-to-Income Ratio

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

3.0x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

34.3 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 56331 in Freeport city, MN, a household would need roughly $74,000 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 $1,736. That sits below the local median household income ($90,893), 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

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
89.9%+37% vs US avg
x
Vacancy Rate
8.0%-22% vs US avg
x
Broadband Access
85.7%-1% vs US avg
x
4+ Bedrooms
11.3%-23% vs US avg
x
Built Pre-1939
3.9%-69% vs US avg
x
Built Post-2014
0.6%-91% vs US avg
x
Rent Burden >30%
9.0%-82% vs US avg
x
Mortgage-Free
48.3%+26% vs US avg
x
$270,300
Home Value
$656
Rent
1977
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 detached95.7%
  • 1-unit attached0.1%
  • 2-9 units0.0%
  • 10+ units2.0%
  • Mobile home & other2.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$270,300
Median rent$656
Owner-occupied89.9%
Vacant8.0%
Price-to-income3.0x
Est. income to buy$74,000