55768, Mountain Iron, MN

The 55768 zip code of Mountain Iron, MN has a median home value of $162,000 and a median home equity value of $111,000. These values are both above the statewide median home value of $146,500 and the national median home equity value of $106,200. The 55768 zip code is also above the Minnesota median home value of $135,700.

Mountain Iron is located in rural Minnesota and has a population of just over 1,000 people. The majority of residents in the 55768 zip code are white (92%) and have a college degree or higher (79%). The average household size is 2.5 people and the average family size is 3 people.

The 55768 zip code has seen strong growth over the past few years as housing prices have increased significantly. In 2015, the median home value was just under $160,000 while by 2018 it had increased to over $162,000. This growth has been driven by strong demand for homes in this area as well as limited supply which has made homes more expensive than usual. Over the past five years alone, house prices have grown by an average of 21%.

Despite these high prices however, there are still many opportunities available for those looking to purchase or invest in property in Mountain Iron. The area is relatively safe with low crime rates and good schools ratings which make it an attractive place to live and raise a family. Additionally, there are plenty of jobs available in nearby cities such as Duluth or Two Harbors which makes it easy for residents to get around town and find work.