The story of this market
The typical home in ZIP 56241 sells for about $144,900, or $114 per square foot.
Prices are up +4.6% from a year ago, so sellers still have some momentum. Homes take about 72 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $863 a month.
ZIP 56241 — Granite Falls
The housing market in 56241 is characterized by low inventory and steady, modest price appreciation. Demand remains consistent with local economic conditions, and the market is currently balanced between buyers and sellers.
This ZIP is well-suited for families and individuals seeking an affordable, small-town lifestyle with access to regional outdoor amenities.
Median prices moved up 4.6% year over year.
Homes spend a median of 72 days on market with 0.4 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.9% · poverty 7.9% — 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 2.6%/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 2.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56241
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by the Granite Falls school system, which provides standard public education for the local community.
The region is subject to standard Midwestern climate risks, including seasonal severe weather and potential flood risks near the Minnesota River.
Economic activity is anchored by local government, regional services, and small-scale manufacturing, with stable but modest growth.
Property taxes are assessed at the county level in Minnesota, with rates determined by local school district and municipal levies.
Commutes are primarily local, with residents relying on regional highways for access to nearby employment hubs in Chippewa and Yellow Medicine counties.
The area features access to the Minnesota River, local parks, and community-focused recreational facilities.
The rental market is characterized by low inventory and steady demand from local workers and small families.
The local economy is driven by agriculture, regional healthcare services, and public sector employment.
Transportation is primarily automobile-dependent, utilizing state highways for regional connectivity.
Development is focused on maintaining existing infrastructure and supporting small-scale residential improvements.
Assessments are managed by the respective county assessors in Chippewa and Yellow Medicine counties.
Parcels are subject to local school district levies and county-wide special service districts.
Property insurance premiums are generally stable, reflecting the area's low-to-moderate risk profile for natural disasters.
Data retrieved from census.gov and censusreporter.org profiles for Granite Falls, MN.
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.
Provides scenic views and recreational fishing opportunities.
Local community park with green space and picnic areas.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.