The story of this market
The typical home in ZIP 55981 sells for about $275,250, or $205 per square foot.
Prices are up +1.5% from a year ago, so sellers still have some momentum. Homes take about 81 days to sell, which is slow.
ZIP 55981
The housing market in 55981 is characterized by a stable, small-town environment with a median home price of $275,250. Market activity is modest, with limited new construction and a reliance on single-family detached housing. Several metrics, including sales count and rental data, are not currently published for this specific ZIP code.
This ZIP is suitable for those seeking an established, small-town riverfront lifestyle, primarily appealing to families and those looking for single-family detached homes.
Median prices moved up 1.5% year over year.
Homes spend a median of 81 days on market with 0.0 months of supply — a balanced-paced market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.5% — 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 5.2%/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 4.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
ZCTA 55981, Wabasha 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.
Wabasha experiences low levels of property and violent crime, generally trending below state and national averages for rural river communities.
Schools serving the Wabasha area are generally characterized by small class sizes and community-focused programming within the Wabasha-Kellogg School District.
The area is situated along the Mississippi River, presenting localized flood risks in low-lying zones; property insurance premiums are influenced by regional weather patterns and river proximity.
Construction activity in Wabasha slowed in 2024, with 10 housing units permitted, primarily single-family homes.
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 primarily involves personal vehicle travel along Highway 61, with limited public transit options available for regional employment centers.
The area features access to the Mississippi River and local parks, with limited shopping and dining options within the immediate vicinity.
The rental market shows elevated vacancy pressure at 17.4%, with a balanced landlord climate and moderate rent growth trends.
The local economy is anchored by small-town services and residential construction, with limited major industrial employers.
Transportation is primarily highway-dependent, with Highway 61 serving as the main artery for regional connectivity.
Development is largely focused on small-scale residential infill and riverfront preservation projects.
The Wabasha County Assessor manages property valuations, utilizing annual market analysis to determine taxable values for residential and commercial parcels.
Parcels are subject to Wabasha-Kellogg School District levies and standard county-level utility and emergency service districts.
Property insurance markets are stable but sensitive to flood-zone designations near the river.
Data retrieved from ZipCodesToGo and Census Bureau sources.
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.
Provides significant recreational opportunities including boating and fishing.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.