The story of this market
The typical home in ZIP 56030 sells for about $176,092, or $92 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 75 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $700 a month.
ZIP 56030 — Evan
The Fairmont housing market remains stable with modest year-over-year price growth and low inventory levels. Demand is driven by local employment and the area's affordability, though limited new construction keeps the market tight. Buyers face a competitive environment for well-maintained, move-in-ready homes.
Fairmont is well-suited for families and retirees seeking an affordable, small-town lifestyle with abundant outdoor lake access. It is less ideal for those requiring proximity to major metropolitan employment hubs.
Median prices moved up 2.1% year over year.
Homes spend a median of 75 days on market with 4.2 months of supply — a balanced-paced market.
12% 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 0.0% · poverty 80.0% — 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 4.8%/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 3.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 56031, Martin 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.
Fairmont reports crime rates generally lower than the national average, with property crime being the most common concern. The area is considered safe relative to larger urban centers in Minnesota.
Public schools in Fairmont are served by Fairmont Area Schools, which generally maintain stable performance ratings and provide a range of extracurricular activities for students.
The area faces moderate risks from severe weather, including thunderstorms and occasional winter storms. Flood risk is localized primarily near the chain of lakes surrounding the city.
The local economy is anchored by manufacturing, agriculture, and healthcare sectors. Development momentum is steady, focused on maintaining infrastructure and supporting local business expansion.
Property taxes are assessed at the county level by Martin County, with rates determined by local school district and municipal levies. Homestead exemptions are available for primary residences.
Commuting is primarily car-dependent, with most residents working within the city or in nearby Martin County communities. Major transit corridors include I-90 and MN-15.
Fairmont is known as the 'City of Lakes,' offering extensive access to five interconnected lakes for boating, fishing, and swimming. The city features numerous parks, trails, and a local golf course.
The rental market is characterized by limited inventory and steady demand, particularly for affordable housing units. Vacancy rates remain low, and short-term rentals are not a dominant market force.
The economy is driven by agricultural processing, manufacturing, and regional healthcare services. Major employers include local manufacturing firms and the school district.
Transportation is dominated by private vehicle use, with I-90 providing the primary east-west corridor. Public transit options are limited to local community services.
Development is focused on infill housing and maintaining existing commercial infrastructure within the city core.
Martin County Assessor manages property valuations, utilizing a mass appraisal system for annual tax assessments.
Parcels are subject to Fairmont Area Schools district taxes and Martin County municipal levies.
Property insurance premiums are influenced by regional weather patterns, including wind and hail exposure common in Southern Minnesota.
Net domestic migration has been relatively stable with slight outflows typical of rural Minnesota counties.
Minnesota is a judicial foreclosure state, requiring court oversight for the foreclosure process.
Minnesota law requires sellers to provide a written disclosure statement regarding the condition of the property.
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.
Five interconnected lakes providing extensive recreational boating and fishing.
Large community park with trails and picnic areas.
Local 18-hole golf course serving the community.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.