The story of this market
The typical home in ZIP 56024 sells for about $259,200, or $135 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 41 days to sell. HUD's fair market rent for a two-bedroom is $1,400 a month.
ZIP 56024 — Eagle Lake
The housing market in 56024 remains stable with steady demand and low inventory levels. Prices have seen consistent year-over-year growth, supported by the area's strong household income profile and proximity to Mankato. While sales volume is modest, the market remains competitive for well-priced single-family homes.
This ZIP is well-suited for families and commuters seeking a suburban lifestyle with proximity to Mankato's amenities while maintaining a small-town community feel.
Median prices moved up 3.2% year over year.
Homes spend a median of 41 days on market with 2.1 months of supply — a fast-moving market.
12% 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 4.6% · poverty 4.2% — 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 5.1%/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 5.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56024, Blue Earth County MN
Eagle Lake generally reports low crime rates consistent with small-town Minnesota, with property crime being the most common concern.
Schools serving the area are part of the Mankato Area Public Schools district, which is generally regarded as providing stable educational outcomes.
The area is subject to standard Midwestern climate risks, including severe thunderstorms and winter weather; flood risk is localized to specific low-lying areas near Eagle Lake.
Economic momentum is tied to the broader Mankato micropolitan area, with growth driven by local manufacturing, healthcare, and education sectors.
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.
Residents primarily commute via US Highway 14, providing a direct and relatively short drive to employment centers in Mankato.
The area features significant access to Eagle Lake for boating and fishing, along with local community parks and trail systems.
The rental market is characterized by low vacancy rates and a limited supply of multi-family units, with rents trending upward in line with regional inflation.
The economy is anchored by the Mankato micropolitan area, with major employment in healthcare, education, and manufacturing.
Transportation is heavily reliant on private vehicles, with US Highway 14 serving as the primary arterial corridor.
Development is focused on residential expansion on the periphery of the existing city footprint.
Blue Earth County Assessor manages property valuations based on annual market analysis and state-mandated assessment cycles.
Parcels are subject to school district levies and county-wide special service districts.
Property insurance premiums are stable but reflect regional exposure to severe weather events common in Southern Minnesota.
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. Source: NCES EDGE public school locations 2023-24.
A primary recreational anchor for fishing and water activities.
Provides community green space and playground facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.