56176, Trimont, MN

The 56176 zip code of Trimont, MN has a median home value of $158,000. This is higher than the statewide median home value of $146,600. The zip code also has a lower than average percentage of homeowners with mortgages at 66%. This is lower than the statewide percentage of homeowners with mortgages at 74%. The 56176 zip code has a higher percentage of homeowners who have equity in their homes at 84%. This is higher than the statewide percentage of homeowners who have equity in their homes at 76%.

There are several factors that may contribute to the high home values and low mortgage rates in the 56176 zip code. One factor may be that Trimont is a desirable location. It is located within close proximity to Minneapolis and St. Paul, two major metropolitan areas with high levels of employment and population density. Additionally, Trimont has many amenities available nearby, including shopping malls and restaurants. These amenities may make it more difficult for potential buyers to find comparable properties in other parts of Minnesota or across the United States.

Another factor that may contribute to high home values and low mortgage rates in the 56176 zip code is the availability of creditworthy borrowers. Many potential buyers in this area have good credit scores, which makes it easier for them to obtain financing for a home purchase. In addition, there are relatively few foreclosures or short sales in this area, which may help keep prices high relative to other areas where these types of transactions occur frequently.