Zip 56118 (Bingham Lake, MN) Housing

Housing in 56118 Bingham Lake, MN is quite expensive with a median value of $222,800. This is significantly higher than the US median house value of $338,100. In addition to this, the appreciation rate of houses in this area stands at 9.54%, which is slightly higher than the national average of 8.27%. Thus, investments into housing in this area are likely to be profitable.

The median home cost in Bingham Lake (zip 56118) is $222,800. Home appreciation the last 10 years has been 74.6%. Home Appreciation in Bingham Lake (zip 56118) is up 14.7%.

Average Age of Homes

- The median age of Bingham Lake (zip 56118) real estate is 73 years old

The Rental Market in Bingham Lake (zip 56118)

- Renters make up 7.4% of the Bingham Lake (zip 56118) population
- 0.0% of houses and apartments in Bingham Lake (zip 56118), 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	Bingham Lake, Minnesota	United States
	206.0	139,647,020.0
	71	42
	$222,800	$338,100
	14.7%	16.6%
	49.9%	57.0%
	74.6%	101.1%
	$11.96	$10.98
	$1,500	$2,690
	91.3%	57.4%
	6.3%	11.2%
	2.4%	31.4%
Vacant Housing
	0.0%	1.9%
	0.0%	0.4%
	0.0%	0.7%
	0.0%	0.4%
	1.9%	3.6%
	4.4%	4.1%
Value of Owner-Occupied Housing
	3.7%	2.6%
	3.2%	2.4%
	6.4%	2.8%
	10.1%	3.9%
	2.7%	4.5%
	17.0%	11.3%
	16.0%	13.0%
	9.6%	20.1%
	28.7%	13.6%
	2.1%	8.3%
	0.0%	9.7%
	0.5%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	3.9%	13.6%
	3.9%	13.6%
	3.4%	13.6%
	6.8%	13.2%
	14.6%	14.8%
	3.4%	13.6%
	11.2%	10.0%
	14.1%	4.7%
	35.9%	12.2%

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