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Paynesville city, MN

ZIP 56362 — 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 56362

Median Home Value
$242,700
Median Rent
$739
Affordability Snapshot
$67,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,559/mo PITI).

11%
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.

27.4 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 56362 in Paynesville city, MN, a household would need roughly $67,000 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 $1,559. That sits below the local median household income ($81,536), 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 23% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
82.6%+26% vs US avg
x
Vacancy Rate
23.0%+123% vs US avg
x
Broadband Access
89.0%+2% vs US avg
x
4+ Bedrooms
7.1%-52% vs US avg
x
Built Pre-1939
7.3%-43% vs US avg
x
Built Post-2014
1.4%-80% vs US avg
x
Rent Burden >30%
26.9%-46% vs US avg
x
Mortgage-Free
43.6%+14% vs US avg
x
$242,700
Home Value
$739
Rent
1975
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

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

  • 1-unit detached83.4%
  • 1-unit attached3.4%
  • 2-9 units2.0%
  • 10+ units9.2%
  • Mobile home & other1.9%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$242,700
Median rent$739
Owner-occupied82.6%
Vacant23.0%
Price-to-income3.0x
Est. income to buy$67,000