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Balaton city, MN

ZIP 56115 — Housing & Real Estate

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

Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 56115

Median Home Value
$191,900
Median Rent
$663
Affordability Snapshot
$53,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,233/mo PITI).

12%
Rent-to-Income Ratio

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

2.9x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

24.1 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 56115 in Balaton city, MN, a household would need roughly $53,000 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 $1,233. That sits below the local median household income ($67,177), 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

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
82.3%+26% vs US avg
x
Vacancy Rate
6.2%-39% vs US avg
x
Broadband Access
89.0%+2% vs US avg
x
4+ Bedrooms
7.8%-47% vs US avg
x
Built Pre-1939
9.8%-23% vs US avg
x
Built Post-2014
0.5%-92% vs US avg
x
Rent Burden >30%
9.7%-81% vs US avg
x
Mortgage-Free
45.5%+19% vs US avg
x
$191,900
Home Value
$663
Rent
1957
Year Built
2010
Moved In

Residents have lived here since ~2010 on average

Housing Structure

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

  • 1-unit detached95.5%
  • 1-unit attached0.0%
  • 2-9 units0.9%
  • 10+ units2.3%
  • Mobile home & other1.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$191,900
Median rent$663
Owner-occupied82.3%
Vacant6.2%
Price-to-income2.9x
Est. income to buy$53,000