55811, Duluth, MN

The Duluth, MN 55811 zip code has a population of about 34,000 people and is located in the northeastern part of the state. The median home value in this zip code is $158,500 which is significantly higher than the national median home value of $123,700. The percentage of homes in this zip code that are owner-occupied is also significantly higher than the national percentage of owner-occupied homes at 66%.

One reason for this high home value and homeowner rate in the Duluth 55811 zip code may be due to its proximity to major metropolitan areas such as Minneapolis and Saint Paul. Additionally, Duluth has a strong economy with a well-educated population. This combination may contribute to high demand for housing in this area and higher prices for homes.

Another factor that may contribute to high home values and homeowner rates in the Duluth 55811 zip code is its low unemployment rate. The unemployment rate in this area was 2% as of September 2017 which is lower than both the Minnesota statewide unemployment rate (3%) and the national unemployment rate (4%). This low unemployment rate may help to attract businesses and families who are looking for stable housing opportunities.

Despite these positive factors, there are some challenges that could affect home values and homeowner rates in the Duluth 55811 zip code over time. One potential issue could be if there were any significant increases or decreases in demand for housing or if there were any economic recessionary periods that affected employment levels within the area. Additionally, although homeownership rates are high in this zip code, there may be a small number of homeowners who are not able to sell their homes at market prices due to financial constraints or other reasons.