55331, Excelsior, MN

The 55331 zip code of Excelsior, MN is located in the Twin Cities metropolitan area. The median home value in this zip code is $269,000 and the median home equity value is $142,000. This means that the majority of homes in this zip code are worth more than their original purchase price. Additionally, the average home price growth rate for this zip code over the past five years has been 5%. This indicates that there are a lot of homes available for sale and a lot of people who are interested in buying them.

One reason why there has been such strong home price growth in this zip code is because there are a lot of families who want to live here. The population density in this zip code is very high (1400/sq mi), which means that there are a lot of homes available for sale and a lot of people who want to buy them. Additionally, many businesses have located here because it is close to both Minneapolis and St Paul. This has helped to drive up demand for housing and property values.

Another factor that has contributed to strong home prices in this zip code is low unemployment rates. The unemployment rate in Excelsior was 2% as of May 2017, which is much lower than the Minnesota statewide unemployment rate (3%). This means that there are plenty of jobs available and people can afford to buy homes without having to worry about losing their jobs or being unable to afford their mortgage payments.

Overall, it appears that there are plenty of reasons why home prices have increased so much in the 55331 zip code over the past few years. Families want to live here because there are plenty of homes available and businesses have located here because it's close to other major cities. Low unemployment rates also help support higher home values by making it more difficult for people to lose their jobs or become financially unstable."