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Albany city, MN

ZIP 56307 — 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 56307

Median Home Value
$268,600
Median Rent
$537
Affordability Snapshot
$74,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,725/mo PITI).

7%
Rent-to-Income Ratio

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

3.0x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

41.7 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 56307 in Albany city, MN, a household would need roughly $74,000 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 $1,725. That sits below the local median household income ($89,563), 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
78.6%+20% vs US avg
x
Vacancy Rate
5.9%-42% vs US avg
x
Broadband Access
87.1%+0% vs US avg
x
4+ Bedrooms
8.4%-44% vs US avg
x
Built Pre-1939
3.5%-73% vs US avg
x
Built Post-2014
0.1%-99% vs US avg
x
Rent Burden >30%
11.6%-77% vs US avg
x
Mortgage-Free
39.9%+4% vs US avg
x
$268,600
Home Value
$537
Rent
1986
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 detached77.6%
  • 1-unit attached2.4%
  • 2-9 units7.9%
  • 10+ units9.8%
  • Mobile home & other2.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$268,600
Median rent$537
Owner-occupied78.6%
Vacant5.9%
Price-to-income3.0x
Est. income to buy$74,000