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Corcoran city, MN

ZIP 55340 — Housing & Real Estate

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

Wealthy AreaLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 55340

Median Home Value
$607,600
Median Rent
$1,181
Affordability Snapshot
$167,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,903/mo PITI).

8%
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.

42.9 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 55340 in Corcoran city, MN, a household would need roughly $167,000 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 $3,903. That is roughly in line with the local median household income ($174,120). 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
93.0%+42% vs US avg
x
Vacancy Rate
1.2%-88% vs US avg
x
Broadband Access
95.9%+10% vs US avg
x
4+ Bedrooms
29.5%+99% vs US avg
x
Built Pre-1939
0.8%-94% vs US avg
x
Built Post-2014
5.9%-14% vs US avg
x
Rent Burden >30%
22.4%-55% vs US avg
x
Mortgage-Free
33.5%-12% vs US avg
x
$607,600
Home Value
$1,181
Rent
1999
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

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

  • 1-unit detached84.2%
  • 1-unit attached5.1%
  • 2-9 units2.7%
  • 10+ units3.6%
  • Mobile home & other4.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$607,600
Median rent$1,181
Owner-occupied93.0%
Vacant1.2%
Price-to-income3.5x
Est. income to buy$167,000