The story of this market
The typical home in ZIP 56220 sells for about $245,000, or $142 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 48 days to sell. HUD's fair market rent for a two-bedroom is $604 a month.
ZIP 56220 — Canby
The housing market in 56220 remains stable with modest price appreciation and low inventory levels. Market activity is driven by local demand and limited supply, resulting in a balanced environment for both buyers and sellers.
This ZIP is best suited for families and individuals seeking a quiet, affordable small-town lifestyle with a low cost of living and strong community ties.
Median prices moved up 2.1% year over year.
Homes spend a median of 48 days on market with 3.4 months of supply — a fast-moving market.
19% of listings have cut prices · homes sell at 98.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.0% · poverty 10.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56220, Yellow Medicine County, MN
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in this rural Minnesota community remain low, consistent with regional trends for Yellow Medicine County.
Schools serving the area are part of the Canby Public School District, which maintains a stable reputation for small-town educational outcomes.
The area faces standard Midwestern climate risks, including severe thunderstorms and winter weather, with flood risk primarily localized to low-lying areas near the Yellow Medicine River.
Economic momentum is driven by local agricultural support services and small-scale manufacturing, with limited large-scale infrastructure development currently underway.
Property taxes are assessed by Yellow Medicine County based on market value, with local school district levies and municipal taxes comprising the primary components of the total mill rate.
Commuting is primarily car-dependent, with residents traveling to nearby regional hubs for employment; public transit options are not available.
Local amenities include city parks, community sports fields, and proximity to regional outdoor recreation areas for hunting and fishing.
The rental market is characterized by low turnover and limited inventory, with demand primarily driven by local workforce needs.
The local economy is anchored by agriculture, agribusiness, and local government services, with a focus on maintaining regional stability.
Transportation is dominated by regional highway access; there is no significant public transit infrastructure.
Development is currently focused on small-scale residential infill and maintenance of existing municipal infrastructure.
Yellow Medicine County Assessor manages property valuations, utilizing a mass appraisal system based on annual market analysis.
Parcels are subject to Canby Public School District levies and county-wide hospital district assessments.
Property insurance premiums are stable, reflecting the low-hazard profile of the region, though wind and hail coverage remain standard considerations.
Data retrieved from data.census.gov ZCTA 56220 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Central community green space with playground and picnic facilities.
Local 9-hole course serving the immediate area.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.