Zip 56115 (Balaton, MN) Housing

The housing market in 56115 Balaton, MN is quite robust. According to the latest data, the median value of homes in this area is $171,400, which is significantly lower than the US median value of $338,100. However, the rate of appreciation for housing here has been higher than the national average at 9.54%, compared to 8.27%. This indicates that people are attracted to this area due to its affordability and potential for growth—a great combination for prospective homeowners and investors alike.

The median home cost in Balaton (zip 56115) is $171,400. Home appreciation the last 10 years has been 74.6%. Home Appreciation in Balaton (zip 56115) is up 14.7%.

Average Age of Homes

- The median age of Balaton (zip 56115) real estate is 58 years old

The Rental Market in Balaton (zip 56115)

- Renters make up 13.5% of the Balaton (zip 56115) population
- 0.0% of houses and apartments in Balaton (zip 56115), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Balaton, Minnesota	United States
	570.0	139,647,020.0
	61	42
	$171,400	$338,100
	14.7%	16.6%
	49.9%	57.0%
	74.6%	101.1%
	$10.15	$10.98
	$1,296	$2,690
	74.4%	57.4%
	9.5%	11.2%
	16.1%	31.4%
Vacant Housing
	0.0%	1.9%
	0.0%	0.4%
	0.0%	0.7%
	1.1%	0.4%
	1.4%	3.6%
	7.0%	4.1%
Value of Owner-Occupied Housing
	0.9%	2.6%
	6.4%	2.4%
	5.9%	2.8%
	11.3%	3.9%
	6.4%	4.5%
	11.6%	11.3%
	10.6%	13.0%
	21.5%	20.1%
	9.2%	13.6%
	10.4%	8.3%
	4.0%	9.7%
	0.7%	3.9%
	0.7%	2.2%
	0.0%	0.8%
	0.5%	1.1%
Housing Units by Year Structure Built
	0.2%	0.2%
	10.9%	13.6%
	10.9%	13.6%
	5.8%	13.6%
	4.6%	13.2%
	11.8%	14.8%
	5.8%	13.6%
	8.2%	10.0%
	10.5%	4.7%
	31.1%	12.2%

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