The story of this market
The typical home in ZIP 56248 sells for about $185,000, or $115 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 62 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $535 a month.
ZIP 56248 — Herman
The housing market in 56248 remains stable with low inventory and modest price appreciation consistent with rural Minnesota trends. Demand is driven by local residents and agricultural workers, resulting in a slow but steady sales pace. The market is not experiencing the volatility seen in larger urban centers.
This area is best suited for families and individuals seeking a quiet, rural lifestyle, lower cost of living, and proximity to agricultural or small-town employment opportunities.
Median prices moved up 2.4% year over year.
Homes spend a median of 62 days on market with 4.8 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.0% · poverty 11.2% — 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 4.5%/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 3.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56248, 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 area are consistently low, with incidents primarily limited to minor traffic or civil matters; regional comparisons indicate significantly lower crime than urban centers.
Schools serving this area are part of small, rural independent districts that generally maintain stable performance metrics, though limited by smaller tax bases and enrollment numbers.
The area faces standard Midwestern climate risks, including seasonal severe thunderstorms and winter weather; flood risk is localized to specific low-lying areas near regional waterways.
Economic momentum is driven by regional agriculture and small-scale local commerce, with limited large-scale industrial or residential development projects currently underway.
Property taxes are assessed at the county level based on market value; the jurisdiction utilizes standard state-mandated exemptions for homestead properties and agricultural land.
Commutes are primarily car-dependent, involving travel on state highways to reach regional employment hubs in larger neighboring towns.
Recreational opportunities are centered on outdoor activities, including access to local parks, regional wildlife management areas, and small-town community facilities.
The rental market is characterized by low inventory and limited turnover, with demand primarily driven by local workforce needs rather than investor-led short-term rental activity.
The local economy is heavily anchored by the agricultural sector, with supporting industries in local retail, education, and government services.
Transportation infrastructure consists primarily of state and county highways; there is no public transit system serving this rural ZIP code.
There are no major commercial or residential developments currently approved or under construction within this ZIP code.
The Yellow Medicine County Assessor manages property valuations, focusing on annual market adjustments and agricultural land classification.
Parcels are subject to local school district levies and county-wide hospital district assessments.
Property insurance premiums are generally stable, though coverage for wind and hail damage remains a standard consideration for homeowners in this region.
Data retrieved from US Census Bureau ZCTA-level tables.
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 local fishing and scenic outdoor access.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.