CALCMONEY // MORTGAGE // MN // EDINA // 55416
ZIP CODE ANALYSISHyper-local mortgage data for ZIP 55416 in Edina, MN.
$480,000
$384,000
$3,137
$134,444/yr
| Down Payment | Home Price | Loan Amount | Monthly P&I | Total Monthly | Rate |
|---|---|---|---|---|---|
| 10% Down | $480,000 | $432,000 | $2,845 | $3,453 | 6.9% |
| 20% Down | $480,000 | $384,000 | $2,529 | $3,137 | 6.9% |
| 25% Down | $480,000 | $360,000 | $2,371 | $2,979 | 6.9% |
Total monthly includes principal & interest, property tax (1.12% annual), and estimated homeowners insurance. PMI not included.
St. Louis Park (ZIP 55416) sits within Edina, Minnesota with a median home price of $480,000 — significantly above the Edina city-wide median of $850,000. At 80% LTV, the typical loan of $384,000 remains within conforming loan limits, keeping conventional financing accessible.
Property taxes in ZIP 55416 run 1.12% annually, adding $448 per month on the median home. Median household income in this neighborhood is approximately $82,000, placing the price-to-income ratio at 5.9x. Minnesota levies a state income tax, which reduces take-home pay and should be factored into your maximum monthly payment calculation.