55085, Vermillion, MN

The Vermillion, MN 55085 zip code has a population of approximately 4,000 people. The median household income in the 55085 zip code is $64,500. The median home value in the 55085 zip code is $157,500.

There has been an increase in home equity and home prices in the Vermillion, MN 55085 zip code over the past few years. In 2015, there was a 5% increase in home values and a 10% increase in home equity values. This trend continued into 2016 with a 6% increase in home values and an 11% increase in home equity values. Home prices have continued to rise since then and are projected to reach $187,000 by 2021. This growth is likely due to many factors including low interest rates and increasing demand for housing stock due to an aging population.

While this growth may be good news for some homeowners, it can also be difficult for those who are not able to afford such high prices. Many people who live in the Vermillion, MN 55085 zip code are renters who are not able to take advantage of these rising prices because they do not own their homes outright. For those who do own their homes outright, they may find that their homes are worth less than they thought due to inflationary trends or other factors outside of their control (i.e., market conditions). For those who do not own their homes outright or cannot afford to buy them outright, they may find themselves struggling to pay rent or mortgage payments on a property that is worth less than it was when they first bought it.