Unexpected ZIP Code Named Minnesota’s ‘Most Affordable’ for Rent

When I saw the ranking for the most affordable ZIP code for renters in Minnesota, I was floored. It's definitely NOT what I expected, not even close.

Let’s just say it had me wondering how these numbers were calculated and if they really capture the full picture. But before we get into specifics, let’s break down how this title of “most affordable” was determined.

CashNetUSA set out to make sense of the quirks in the 2024 rental market by comparing average local rents and household incomes across ZIP codes in U.S. cities with populations over 100,000.

Their methodology involved crunching data from the U.S. Census and Zillow’s Observed Rent Index, ranking ZIP codes by affordability.

Related: This Town is Officially The Cheapest Place to Live in All of Minnesota

Affordability, in this case, meant rental costs as a percentage of local income, with “affordable” rents defined as those taking up less than 30% of the average monthly salary.

Before we find the cheapest zip code, let's take a peek at the most affordable cities in Minnesota for reference:

Get our free mobile app

The most affordable ZIP code in Minnesota has been revealed:

It's supposedly 55906 AKA Northeast Rochester. For locals, this might come as a head-scratcher. I feel like that’s not even the most affordable ZIP code in Rochester, let alone the state.

But, according to CashNet.com, it is. And they say that rent in the 55906 ZIP code is 14.57% of the local average income which is actually one of the lowest in the country. Click here for more info and to see where Minnesota lands compared to other states.

Listen to Curt St. John and Samm Adams in the Morning
weekdays from 6 to 10 a.m. on Quick Country 96.5