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Milroy city, MN

ZIP 56263 — 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 56263

Median Home Value
$162,000
Median Rent
$467
Affordability Snapshot
$45,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,041/mo PITI).

8%
Rent-to-Income Ratio

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

2.2x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

28.9 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 56263 in Milroy city, MN, a household would need roughly $45,000 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 $1,041. That sits below the local median household income ($73,750), 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 16% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
92.2%+41% vs US avg
x
Vacancy Rate
16.3%+58% vs US avg
x
Broadband Access
91.1%+5% vs US avg
x
4+ Bedrooms
11.6%-21% vs US avg
x
Built Pre-1939
1.4%-89% vs US avg
x
Built Post-2014
0.9%-87% vs US avg
x
Rent Burden >30%
28.6%-43% vs US avg
x
Mortgage-Free
53.6%+40% vs US avg
x
$162,000
Home Value
$467
Rent
1959
Year Built
2005
Moved In

Residents have lived here since ~2005 on average

Housing Structure

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

  • 1-unit detached89.3%
  • 1-unit attached3.3%
  • 2-9 units2.8%
  • 10+ units1.9%
  • Mobile home & other2.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$162,000
Median rent$467
Owner-occupied92.2%
Vacant16.3%
Price-to-income2.2x
Est. income to buy$45,000