The story of this market
The typical home in ZIP 55605 sells for about $140,200, or $115 per square foot.
Prices are up +2.5% from a year ago, so sellers still have some momentum. Homes take about 145 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $521 a month.
ZIP 55605
The housing market in 55605 is characterized by low inventory, low turnover, and modest price appreciation. The market is heavily influenced by tribal land ownership and the remote nature of the North Shore, resulting in limited residential development and stable, albeit low, property values.
This ZIP is best suited for those seeking rural, remote living, tribal members, or outdoor enthusiasts who prioritize proximity to Lake Superior and wilderness access over urban amenities.
Median prices moved up 2.5% year over year.
Homes spend a median of 145 days on market with 15.0 months of supply — a slower-moving market.
12% of listings have cut prices · homes sell at 96% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.5% · poverty 16.3% — a mixed stability 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 2.2%/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 2.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 55605, Cook County MN
Crime data for Grand Portage is not determinable at the ZIP level, though the area is generally characterized by low population density and rural isolation.
Public education is served by the Cook County School District, with schools located in Grand Marais; local school quality is generally considered consistent with rural Minnesota standards.
The area faces risks typical of the North Shore, including severe winter weather and wildfire potential in forested areas; flood risk is primarily associated with Lake Superior shoreline proximity.
Economic momentum is driven by the Grand Portage Band of Lake Superior Chippewa, which operates the Grand Portage Lodge & Casino, the primary employer in the ZIP.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Minnesota) — Condominium Unit Taxation: Each unit constitutes a separate parcel for tax purposes. If a declaration is recorded at least 30 days before a tax installment is due, the taxing authority must split the taxes among the units. State (Minnesota) — Minnesota General Property Tax Classification System: Property tax is calculated by applying a class rate to the parcel's estimated market value to determine tax capacity, then multiplying by the local tax rate. For residential homesteads (Class 1a), the rate is 1.00% for the first $500,000 of market value and 1.
Commuting is primarily via Highway 61, which serves as the sole arterial route connecting Grand Portage to Grand Marais and other regional employment centers.
The area is defined by Grand Portage State Park, Grand Portage National Monument, and extensive access to Lake Superior and the Superior National Forest for outdoor recreation.
The rental market is extremely limited with low turnover and high vacancy rates, often influenced by seasonal housing needs and tribal housing programs.
The economy is heavily reliant on tourism, tribal government operations, and the Grand Portage Lodge & Casino.
Public transit is limited; the area relies on Highway 61 for all regional connectivity.
There are no major commercial or residential developments currently approved or under construction in this ZIP.
Cook County Assessor manages property valuations; assessments are conducted periodically to reflect market value.
Parcels are served by Cook County ISD 166; no special MUD or PID districts are reported.
Property insurance premiums are influenced by wildfire risk and the remote nature of the geography.
Net domestic migration is stable with low turnover.
Minnesota is a judicial foreclosure state with statutory redemption periods.
Minnesota requires sellers to provide a written disclosure statement regarding the condition of the property.
Data retrieved from Census Reporter and ACS 5-year 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. Source: NCES EDGE public school locations 2023-24.
Features the High Falls of the Pigeon River on the Canadian border.
Preserves the historic fur trade depot and Ojibwe heritage.
Major regional anchor for tourism and gaming.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.