US5.com
  1. Home
  2. States
  3. Minnesota
  4. ZIP 56523
  5. Housing & Real Estate
Climax city, MN

ZIP 56523 — Housing & Real Estate

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

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 56523

Median Home Value
$144,800
Median Rent
$700
Affordability Snapshot
$40,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$930/mo PITI).

15%
Rent-to-Income Ratio

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

2.7x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

17.2 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 56523 in Climax city, MN, a household would need roughly $40,000 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 $930. That sits below the local median household income ($54,400), 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
80.7%+23% vs US avg
x
Vacancy Rate
6.2%-40% vs US avg
x
Broadband Access
80.7%-7% vs US avg
x
4+ Bedrooms
6.8%-54% vs US avg
x
Built Pre-1939
5.7%-56% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
21.9%-56% vs US avg
x
Mortgage-Free
48.5%+27% vs US avg
x
$144,800
Home Value
$700
Rent
1964
Year Built
2008
Moved In

Residents have lived here since ~2008 on average

Housing Structure

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

  • 1-unit detached81.4%
  • 1-unit attached1.1%
  • 2-9 units7.3%
  • 10+ units4.5%
  • Mobile home & other5.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$144,800
Median rent$700
Owner-occupied80.7%
Vacant6.2%
Price-to-income2.7x
Est. income to buy$40,000