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Aitkin city, MN

ZIP 56431 — 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 56431

Median Home Value
$264,800
Median Rent
$674
Affordability Snapshot
$73,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,701/mo PITI).

12%
Rent-to-Income Ratio

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

4.1x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

32.7 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 56431 in Aitkin city, MN, a household would need roughly $73,000 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 $1,701. That is roughly in line with the local median household income ($64,846). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 45% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
85.4%+31% vs US avg
x
Vacancy Rate
44.9%+335% vs US avg
x
Broadband Access
85.3%-2% vs US avg
x
4+ Bedrooms
3.9%-74% vs US avg
x
Built Pre-1939
4.1%-68% vs US avg
x
Built Post-2014
1.3%-81% vs US avg
x
Rent Burden >30%
18.9%-62% vs US avg
x
Mortgage-Free
52.0%+36% vs US avg
x
$264,800
Home Value
$674
Rent
1983
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 detached85.3%
  • 1-unit attached0.4%
  • 2-9 units2.6%
  • 10+ units4.5%
  • Mobile home & other7.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$264,800
Median rent$674
Owner-occupied85.4%
Vacant44.9%
Price-to-income4.1x
Est. income to buy$73,000