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Independence city, MN

ZIP 55359 — 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 55359

Median Home Value
$573,700
Median Rent
$1,155
Affordability Snapshot
$158,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,685/mo PITI).

11%
Rent-to-Income Ratio

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

4.4x
Home Price-to-Income Ratio

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

41.4 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 55359 in Independence city, MN, a household would need roughly $158,000 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 $3,685. That is about 22% above the local median household income ($129,508), so the median earner would likely stretch or need a larger down payment. 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
84.6%+29% vs US avg
x
Vacancy Rate
3.6%-65% vs US avg
x
Broadband Access
93.0%+7% vs US avg
x
4+ Bedrooms
17.0%+15% vs US avg
x
Built Pre-1939
3.1%-76% vs US avg
x
Built Post-2014
1.0%-86% vs US avg
x
Rent Burden >30%
25.4%-49% vs US avg
x
Mortgage-Free
27.6%-28% vs US avg
x
$573,700
Home Value
$1,155
Rent
1979
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 detached85.8%
  • 1-unit attached0.8%
  • 2-9 units1.5%
  • 10+ units11.9%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$573,700
Median rent$1,155
Owner-occupied84.6%
Vacant3.6%
Price-to-income4.4x
Est. income to buy$158,000