Minnesota
Morrison County
ZIP 56328
34,131 residents204 permits TTM$68,640 median HHI10 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$237,000
ACS 5-Year
Cap rate proxy
4.0%
FMR × 0.65 ÷ Home Value
Rent-to-income
13.7%
HUD FMR ÷ ACS HHI
Net migration
+1.43%
IRS SOI
Permits (TTM)
204
Census BPS
Climate risk
66.9
FEMA NRI (0–100)
ZIP 56328
Median home value
$237,000
Gross yield
4.9%
Cap rate
4.0%
Rent gap
19.6%
Affordability
P/I: 3.5R/I: —
Section 8 detail
SAFMR: $973Rent: $782Gap: 24.4%
ZIP code breakdown10 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 56314 | $335,741 | $973 | 3.5% | 2.8% | 19.6% |
| 56328 | $237,000county est. | $973 | 4.9% | 4.0% | 19.6% |
| 56338 | $352,744 | $973 | 3.3% | 2.7% | 19.6% |
| 56345 | $262,059 | $973 | 4.5% | 3.6% | 19.6% |
| 56364 | $329,684 | $973 | 3.5% | 2.8% | 19.6% |
Ranked by composite score
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Demographics
Owner-occupied
80.9%
Census ACS
Vacancy rate
14.5%
Census ACS
Bachelor's degree +
19.0%
Census ACS
Rent burdened
30.3%
Census ACS (>30% income)
Median age
42.2
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026