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Thief River Falls city, MN

ZIP 56701 — 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 56701

Median Home Value
$189,700
Median Rent
$779
Affordability Snapshot
$52,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,219/mo PITI).

13%
Rent-to-Income Ratio

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

2.6x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

20.3 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 56701 in Thief River Falls city, MN, a household would need roughly $52,000 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 $1,219. That sits below the local median household income ($73,243), 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
70.1%+7% vs US avg
x
Vacancy Rate
7.9%-23% vs US avg
x
Broadband Access
89.7%+3% vs US avg
x
4+ Bedrooms
5.6%-62% vs US avg
x
Built Pre-1939
4.0%-69% vs US avg
x
Built Post-2014
0.3%-95% vs US avg
x
Rent Burden >30%
14.5%-71% vs US avg
x
Mortgage-Free
39.9%+4% vs US avg
x
$189,700
Home Value
$779
Rent
1975
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

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

  • 1-unit detached63.1%
  • 1-unit attached2.3%
  • 2-9 units7.2%
  • 10+ units16.2%
  • Mobile home & other11.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$189,700
Median rent$779
Owner-occupied70.1%
Vacant7.9%
Price-to-income2.6x
Est. income to buy$52,000