55904, Rochester, MN

Home Equity and Home Prices in the 55904 Zip Code of Rochester, Minnesota

The zip code 55904 has a population of around 101,000 people and is located in the southeastern part of Rochester, Minnesota. The median home value in this zip code is $154,900 which is above the national median home value of $127,500. The percentage of homes that are owner-occupied is around 68%, which is above the national average of 63%. Around 27% of homes in this zip code are occupied by renters.

There are a number of factors that contribute to the high home values in this zip code. One reason is that there are a lot of affluent residents who can afford to buy homes here. Another reason is that there are a lot of new homes being built here, which drives up prices. Finally, there is a strong demand for housing in this area due to its proximity to both downtown Rochester and Mayo Clinic Health System.

Despite these high values, it's important to keep in mind that home equity isn't always indicative of long-term financial stability. For example, if you lose your job or have an unexpected expense come up, you may not be able to afford your mortgage payments or sell your home quickly enough to recoup your losses. It's also important to remember that prices can change over time - so it's always best to consult with a real estate agent or mortgage lender before making any decisions about buying or selling a home.