The story of this market
The typical home in ZIP 56062 sells for about $192,236, or $146 per square foot.
Homes take about 57 days to sell. HUD's fair market rent for a two-bedroom is $775 a month.
ZIP 56062 — Madelia
The Madelia housing market is characterized by a median home value of approximately $192,236 and a population of 3,234. Market data for specific metrics like closed sales, rent, and tax rates are not currently published at the ZIP level. The area shows a 10.6% vacancy rate, suggesting a stable but slow-growth environment.
This ZIP is primarily suited for local families and residents seeking a small-town environment in Watonwan County, as evidenced by the stable, detached-housing-dominant residential profile.
Median prices moved sideways 0.0% year over year.
Homes spend a median of 57 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 3.0% · poverty 10.7% — a stable, low-distress profile.
versus the prior ACS vintage
ZCTA 56062, Watonwan County MN
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.
The area exhibits a 10.6% vacancy rate, which may signal weakening demand in the local rental market.
The local economy is primarily driven by agricultural and small-town service sectors within Watonwan County.
Data sourced from Census Bureau ZCTA-level tables and county-level rollups.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.