56143, Jackson, MN

Home Equity and Home Prices in the 56143 Zip Code of Jackson, MN

The zip code of 56143 in Jackson, Minnesota has a median home value of $137,000. This is lower than the state median home value of $177,500. The zip code also has a lower than average percentage of homeowners with a mortgage at 66%. This is higher than the state average percentage of homeowners with a mortgage at 62%. The zip code also has a higher percentage of homeowners who own their homes outright (86%) than the state average (75%). These percentages are indicative of how well-off and financially stable the residents in this zip code are.

The median household income in this zip code is $60,000 which is lower than the state median household income ($72,500). However, this does not reflect how well off or financially stable the residents in this zip code are. The percent of households earning less than $30,000 is much higher here (32%) than it is statewide (10%). This indicates that there are more low-income households living in this zipcode compared to statewide.

There are several factors that could be contributing to these differences between income and wealth levels among residents in 56143. One possibility is that there may be more unemployed or underemployed residents here compared to statewide. Another possibility could be that there are more single-parent households living here which would lead to lower incomes due to reduced Social Security benefits and other government assistance programs available to them. Additionally, some low-income earners may have moved out of this area because they cannot afford to live here anymore or they do not feel safe living here due to crime rates which are above average for Minnesota's largest city.

Despite these disparities between income levels and housing values within the ZIP Code 56143, it appears that most residents feel relatively secure about their financial situation overall. This suggests that there may be opportunities for those who want to invest in property within this area by purchasing an existing home or starting their own business.