The story of this market
The typical home in ZIP 56387 sells for about $289,000, or $159 per square foot.
Prices are up +3.23% from a year ago, so sellers still have some momentum. Homes take about 32 days to sell. HUD's fair market rent for a two-bedroom is $1,129 a month.
ZIP 56387 — Waite Park
The 56387 housing market shows resilience with a median sale price of $289,000 and a 3.23% year-over-year increase. Low inventory levels and steady buyer demand continue to support price growth despite broader economic headwinds.
This ZIP is well-suited for local workers and families seeking proximity to the St. Cloud employment core and retail amenities at a more accessible price point than the national average.
Median prices moved up 3.2% year over year.
Homes spend a median of 32 days on market with 1.0 months of supply — a fast-moving market.
6% 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 7.4% · poverty 22.4% — a mixed stability profile.
versus the prior ACS vintage
ZCTA 56387, Stearns 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.
Waite Park serves as a commercial hub for the St. Cloud metro area, featuring significant retail development along the Highway 23 corridor.
Property taxes are assessed by Stearns County based on local mill rates; specific exemptions for homestead properties apply under Minnesota state law.
The ZIP is centrally located within the St. Cloud metropolitan area, providing direct access to major regional employers via Highway 23 and Interstate 94.
The area features access to local parks and proximity to the Mississippi River and regional trail systems in the St. Cloud area.
The rental market is characterized by steady demand from the local workforce and students, with limited inventory and moderate vacancy pressure.
The economy is anchored by retail, healthcare, and manufacturing sectors within the broader St. Cloud metropolitan area.
Parcels are served by the St. Cloud Area School District and local municipal utility providers.
Data retrieved from census.gov and incomebyzipcode.com
Major regional retail hub along Highway 23.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.