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Red Wing city, MN

ZIP 55089 — Housing & Real Estate

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

Upper Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 55089

Median Home Value
$373,200
Median Rent
$810
Affordability Snapshot
$103,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,397/mo PITI).

9%
Rent-to-Income Ratio

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

3.5x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

38.4 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 55089 in Red Wing city, MN, a household would need roughly $103,000 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 $2,397. That is roughly in line with the local median household income ($105,938). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
91.9%+41% vs US avg
x
Vacancy Rate
7.7%-25% vs US avg
x
Broadband Access
88.8%+2% vs US avg
x
4+ Bedrooms
9.1%-39% vs US avg
x
Built Pre-1939
0.4%-97% vs US avg
x
Built Post-2014
2.5%-64% vs US avg
x
Rent Burden >30%
0.0%
x
Mortgage-Free
48.5%+27% vs US avg
x
$373,200
Home Value
$810
Rent
1984
Year Built
2002
Moved In

Residents have lived here since ~2002 on average

Housing Structure

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

  • 1-unit detached83.6%
  • 1-unit attached0.9%
  • 2-9 units1.0%
  • 10+ units0.0%
  • Mobile home & other14.5%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$373,200
Median rent$810
Owner-occupied91.9%
Vacant7.7%
Price-to-income3.5x
Est. income to buy$103,000