55932, Elgin, MN

The 55932 zip code of Elgin, MN has a median home value of $159,900 and a median home equity value of $128,700. These values are higher than the Minnesota statewide median home value of $146,600 and the national median home value of $177,200. The 55932 zip code also has a lower than average homeownership rate of 57%, which is lower than the Minnesota statewide homeownership rate of 63% and the national homeownership rate of 68%.

The 55932 zip code has a higher than average percentage of owner-occupied homes (63%) compared to the Minnesota statewide percentage (50%) and the national percentage (55%). This indicates that more households in the 55932 zip code own their homes compared to other areas in Minnesota and across the United States. Additionally, there is a greater concentration of owner-occupied homes in this area compared to other parts of Minnesota and across the United States. This may be due to factors such as low housing costs or strong economic conditions.

Another indicator that suggests strong homeowner sentiment in this area is that there is a greater concentration of single-family homes in this zip code compared to other parts of Minnesota and across the United States. This may indicate that people are more likely to own their homes outright or have more equity in their homes than people who live in multifamily dwellings or apartments. Additionally, there is also a greater concentration of single-family homes here compared to other parts of Minneapolis which could indicate that people are attracted to living in this area for its suburban feel.