The story of this market
The typical home in ZIP 56074 sells for about $435,000, or $162 per square foot.
Prices are up +8.78% from a year ago, so sellers still have some momentum. Homes take about 65 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $858 a month.
ZIP 56074 — Nicollet
The housing market in 56074 is characterized by low inventory and stable pricing, reflecting a quiet, small-town environment. Recent data shows a median listing price of $435,000, though sales volume remains limited. Market conditions are driven by local demand and proximity to the larger Mankato employment hub.
This ZIP is well-suited for families and individuals seeking a quiet, small-town lifestyle with access to regional employment centers in the Mankato area.
Median prices moved up 8.8% year over year.
Homes spend a median of 65 days on market with 3.0 months of supply — a fast-moving market.
15% 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 1.3% · poverty 4.6% — 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 4.3%/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 3.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56074, Nicollet County MN
The area is served by the Nicollet Public School District, which maintains a small-town educational environment.
The region is subject to standard Midwestern climate risks, including severe thunderstorms and winter weather; flood risk is localized to specific low-lying areas near the Minnesota River valley.
Economic momentum is tied to the broader Mankato-North Mankato MSA, with local development focused on residential stability and agricultural support services.
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 by car, with an average commute time of approximately 19.3 minutes toward employment hubs in Mankato or Saint Peter.
Local amenities include community parks and proximity to the Minnesota River for outdoor activities, with major shopping and dining options located within a 15-minute drive in Saint Peter or Mankato.
The rental market is characterized by low vacancy rates and limited inventory, with rents remaining relatively stable compared to larger urban centers.
The local economy is anchored by agricultural production and small-scale manufacturing, with significant employment reliance on the nearby Mankato regional hub.
Transportation is primarily highway-dependent, with State Highway 111 serving as a key corridor for regional connectivity.
Development is primarily focused on small-scale residential infill and maintenance of existing infrastructure.
Nicollet County Assessor manages property valuations based on annual market analysis and state-mandated assessment cycles.
Parcels are subject to Nicollet Public School District levies and county-wide special service districts.
Property insurance premiums are influenced by regional weather patterns, including wind and hail exposure common to southern Minnesota.
Data retrieved from Census ACS 5-year estimates and SimpleMaps ZCTA profiles.
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.
Local community park providing green space and recreational facilities.
Provides regional access for fishing and outdoor recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.