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Cottage Grove city, MN

ZIP 55016 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 55016

Median Home Value
$358,800
Median Rent
$1,466
Affordability Snapshot
$99,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,305/mo PITI).

15%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.0x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

20.4 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 55016 in Cottage Grove city, MN, a household would need roughly $99,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,305. That sits below the local median household income ($121,295), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
88.4%+35% vs US avg
x
Vacancy Rate
1.1%-89% vs US avg
x
Broadband Access
95.0%+9% vs US avg
x
4+ Bedrooms
12.4%-16% vs US avg
x
Built Pre-1939
0.9%-93% vs US avg
x
Built Post-2014
4.3%-38% vs US avg
x
Rent Burden >30%
19.4%-61% vs US avg
x
Mortgage-Free
27.5%-28% vs US avg
x
$358,800
Home Value
$1,466
Rent
1988
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached80.5%
  • 1-unit attached11.7%
  • 2-9 units2.7%
  • 10+ units4.7%
  • Mobile home & other0.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$358,800
Median rent$1,466
Owner-occupied88.4%
Vacant1.1%
Price-to-income3.0x
Est. income to buy$99,000