US5.com
  1. Home
  2. States
  3. Minnesota
  4. ZIP 56750
  5. Housing & Real Estate
Red Lake Falls city, MN

ZIP 56750 — 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 56750

Median Home Value
$162,700
Median Rent
$512
Affordability Snapshot
$45,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,045/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.

26.5 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 56750 in Red Lake Falls 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 $1,045. That sits below the local median household income ($74,688), 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 11% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
85.0%+30% vs US avg
x
Vacancy Rate
10.8%+5% vs US avg
x
Broadband Access
82.5%-5% vs US avg
x
4+ Bedrooms
5.8%-61% vs US avg
x
Built Pre-1939
7.3%-43% vs US avg
x
Built Post-2014
0.8%-88% vs US avg
x
Rent Burden >30%
6.9%-86% vs US avg
x
Mortgage-Free
52.0%+36% vs US avg
x
$162,700
Home Value
$512
Rent
1971
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 detached78.8%
  • 1-unit attached0.8%
  • 2-9 units3.0%
  • 10+ units7.5%
  • Mobile home & other9.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$162,700
Median rent$512
Owner-occupied85.0%
Vacant10.8%
Price-to-income2.2x
Est. income to buy$45,000