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Two Harbors city, MN

ZIP 55616 — Housing & Real Estate

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

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 55616

Median Home Value
$237,000
Median Rent
$866
Affordability Snapshot
$65,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,522/mo PITI).

13%
Rent-to-Income Ratio

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

3.1x
Home Price-to-Income Ratio

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

22.8 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 55616 in Two Harbors city, MN, a household would need roughly $65,000 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 $1,522. That sits below the local median household income ($77,242), 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

Vacancy rate 24% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
81.8%+25% vs US avg
x
Vacancy Rate
23.7%+130% vs US avg
x
Broadband Access
87.2%+0% vs US avg
x
4+ Bedrooms
3.7%-75% vs US avg
x
Built Pre-1939
5.2%-60% vs US avg
x
Built Post-2014
0.1%-98% vs US avg
x
Rent Burden >30%
22.4%-55% vs US avg
x
Mortgage-Free
35.0%-8% vs US avg
x
$237,000
Home Value
$866
Rent
1968
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

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

  • 1-unit detached81.7%
  • 1-unit attached3.4%
  • 2-9 units5.8%
  • 10+ units5.9%
  • Mobile home & other3.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$237,000
Median rent$866
Owner-occupied81.8%
Vacant23.7%
Price-to-income3.1x
Est. income to buy$65,000