55959, Minnesota City, MN

The home equity and home prices in the 55959 zip code of Minnesota City, MN are very high. The median home value in this zip code is $269,000, which is more than double the statewide median home value of $123,500. Additionally, the percentage of homes in this zip code that are worth more than $300,000 is significantly higher than the statewide percentage of homes that are worth more than $300,000. This indicates that there are a lot of high-value homes in this zip code.

Another indication of how valuable homes in this zip code are is the fact that the percentage of households that own their homes outright is significantly lower than the statewide percentage of households that own their homes outright. In fact, only 47% of households in this zip code own their home outright compared to 61% of households statewide. This suggests that there are a lot of people who are leveraged into homeownership through mortgages or other forms of debt.

One potential explanation for why there are so many high-value homes in this zip code and so few low-value homes is that there is a lot of investment activity happening here. For example, there is a significant number (10)of businesses located within 5 miles of this zipcode and these businesses may be contributing to increased demand for housing near these businesses. Additionally, many people who live in this zip code may be employed by companies located within 5 miles or commute to work from here. As a result, they may be able to afford to buy a house even if their income isn't as high as someone who works outside the area or doesn't have a commute at all.