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ZIP Code · MN

ZIP 56387

Pop. 7,756·Stearns County·111th most expensive ZIP in Minnesota
Median rent (all units)
$1,267/mo
Year-over-Year
Stable
Month-over-Month
+2.5%
vs US Median
-$698
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 56387 · $1,267
More affordable than 88% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$910
1 BR
$950
2 BR
$1,250
3 BR
$1,660
4 BR+
$1,940
Research median
$1,250/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$15,204/yr
At $1,267/mo median
Location
StateMN
CountyStearns County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+0.0% YoY, +2.5% MoM), not inventory.
Demographics

Who lives here

ZIP 56387 (Waite Park, MN) is roughly split between renters and owners, has a large share of families with children, has a median income below the national average, 21.8% of residents hold a bachelor's degree or higher.

Population
7,756
Median income
$59,009
Median age
37.5
Renters
51.3%
Age distribution
25.7%
21.5%
21.3%
12.4%
19.1%
Under 1825.7%
18–3421.5%
35–5421.3%
55–6412.4%
65+19.1%
Gender
44.5%
55.5%
Male44.5%
Female55.5%
Race & ethnicity
54%
38.7%
White54%
Black38.7%
Hispanic3.9%
Asian1.7%
Other1.7%
Education (25+)
14.8%
29.5%
33.9%
21.8%
No HS diploma14.8%
HS diploma29.5%
Some college33.9%
Bachelor's+21.8%
Housing tenure
48.7%
51.3%
Owner48.7%
Renter51.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 56387 in Waite Park, MN has changed in 5 years

Income
$47,816 → $59,009
up 23.4%
Population
7,722 → 7,756
up 0.4%
Renter share
60.6% → 51.3%
-9.3 pts
Bachelor's+
16.1% → 21.8%
+5.7 pts
Median age
35.7 → 37.5
+1.8 yrs

On the earnings side, the typical household in ZIP 56387 in Waite Park, MN now reports about $59,009, up from $47,816 in 2021. The renter share has eased from 60.6% to 51.3%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 16.1% to 21.8% across the same window.

Community

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Local insights

Tips for renters in ZIP 56387

About renting in ZIP 56387

Last updated: July 20, 2026

ZIP code 56387 covers Waite Park, MN. The median rent here is $1,267/mo as of July 2026. A 1-bedroom rents for a median of $950/mo. A 2-bedroom rents for a median of $1,250/mo.

At 26% of local median household income ($59,009/yr), ZIP 56387 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 56387?

As of July 20, 2026, the median monthly rent in ZIP 56387 (Waite Park, MN) is $1,267. This is based on aggregated data from public sources and community submissions.

How does ZIP 56387 rent compare to the US average?

ZIP 56387's median rent of $1,267/mo is $698 (36%) below the US national median of $1,965/mo.

How does ZIP 56387 compare to other ZIPs in Minnesota?

ZIP 56387 is among the more affordable ZIP codes in Minnesota, ranking #111 out of 123 ZIPs at $1,267/mo.

How much income do you need to rent in ZIP 56387?

To keep rent at or below 30% of gross income, you would need to earn at least $51,000/year (~$25/hour full-time) to afford the median rent of $1,267/mo in ZIP 56387. The local median household income is $59,009/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 56387?

Rent in ZIP 56387 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 56387 an affordable place to rent?

ZIP 56387 is considered affordable for renters. At $1,267/mo, rent takes approximately 26% of the local median household income ($59,009/yr). The standard benchmark is 30%. ZIP 56387 falls comfortably within that range.

What percentage of ZIP 56387 residents rent vs. own?

According to Census data, approximately 51.3% of ZIP 56387 households are renters, while 48.7% are owner-occupied. With a majority renter population, ZIP 56387 has a strong rental market.

How does ZIP 56387 compare to the rest of Waite Park?

ZIP 56387 sits right at the Waite Park citywide median of $1,267/mo.

When was rent data for ZIP 56387 last updated?

Rent data for ZIP 56387 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
26%
AFFORDABLE

At $1,267/mo, rent takes ~26% of ZIP 56387's median household income ($59,009/yr). The standard benchmark is 30%.

ZIP 56387 26%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 56387 (Waite Park, MN)

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