55330, Elk River, MN

The Elk River, MN 55330 zip code has a population of approximately 10,000 people. The median household income in the 55330 zip code is $71,000 and the median home value is $183,500. The 55330 zip code has a homeownership rate of 68% and an unemployment rate of 3%.

The average home value in the 55330 zip code has increased by 9.5% over the past year. This growth is likely due to increasing demand for homes in Elk River as well as nationwide trends of rising home values. In addition, there are currently only 2 active listings for homes in the 55330 zip code which may also contribute to higher prices.

Home equity is an important factor when considering purchasing a home. Home equity allows homeowners to borrow money against their homes to cover costs such as down payments or repairs. Home equity can also be used as a source of emergency funds if needed. The average home value in the 55330 zip code is $183,500 which means that most homeowners have significant equity in their homes.