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Clarks Grove city, MN

ZIP 56016 — 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 56016

Median Home Value
$199,700
Median Rent
$725
Affordability Snapshot
$55,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,283/mo PITI).

10%
Rent-to-Income Ratio

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

2.3x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

23.0 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 56016 in Clarks Grove city, MN, a household would need roughly $55,000 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 $1,283. That sits below the local median household income ($85,938), 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 11% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
86.4%+32% vs US avg
x
Vacancy Rate
10.8%+5% vs US avg
x
Broadband Access
95.7%+10% vs US avg
x
4+ Bedrooms
5.4%-64% vs US avg
x
Built Pre-1939
9.0%-30% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
11.1%-78% vs US avg
x
Mortgage-Free
42.9%+12% vs US avg
x
$199,700
Home Value
$725
Rent
1966
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 detached83.1%
  • 1-unit attached0.0%
  • 2-9 units2.0%
  • 10+ units2.2%
  • Mobile home & other12.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$199,700
Median rent$725
Owner-occupied86.4%
Vacant10.8%
Price-to-income2.3x
Est. income to buy$55,000