55313, Buffalo, MN

The home equity and home prices in the 55313 zip code of Buffalo, MN are relatively high when compared to other zip codes in Minnesota. The median home value in the 55313 zip code is $156,000, which is more than double the median home value of $59,500 for all of Minnesota. Additionally, the percentage of homes that are owned outright (without a mortgage) is higher in the 55313 zip code than in any other zip code in Minnesota. This suggests that there are a lot of homeowners who have a lot of equity in their homes.

One reason why the home equity and home prices in the 55313 zip code are high is likely because there are a lot of affluent residents living in this area. The median household income in the 55313 zip code is $101,000, which is significantly higher than the median household income for all of Minnesota ($57,500). Additionally, there are a lot of well-educated residents living in this area. For example, 37% of adults living in the 55313 zip code have at least a bachelor's degree, which is much higher than the 24% average rate for all of Minnesota. Therefore, it seems likely that many people who live in this area have a lot of money saved up and can afford to buy expensive homes.