The story of this market
The typical home in ZIP 56087 sells for about $217,101, or $118 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 84 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $813 a month.
ZIP 56087 — Springfield
The housing market in 56087 remains stable with modest price appreciation and low inventory levels. Demand is consistent but limited by the rural nature of the area, resulting in a balanced market for buyers and sellers. Current conditions are driven by local economic stability rather than speculative growth.
This ZIP is best suited for local families and long-term residents seeking affordable housing in a quiet, rural community setting.
Median prices moved up 2.1% year over year.
Homes spend a median of 84 days on market with 4.2 months of supply — a balanced-paced market.
14% of listings have cut prices · homes sell at 97.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.3% · poverty 9.4% — 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 5.4%/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 5.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56087, Brown 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.
Crime rates in the area are generally low and consistent with rural Minnesota trends, with no significant spikes reported.
Local schools are part of the Springfield Public School District, which maintains a stable reputation for community-focused education.
The area faces standard Midwestern climate risks, primarily related to severe thunderstorms and winter weather, with flood risk concentrated near local waterways.
Economic momentum is driven by local agricultural and small-scale manufacturing sectors, with limited large-scale infrastructure development currently underway.
Property taxes are assessed at the county level in Brown County, with rates determined by local school district and municipal levies.
Commuting is primarily car-dependent, with residents typically driving to nearby regional employment hubs in New Ulm or Mankato.
The area features local parks and access to outdoor recreation typical of the Minnesota River Valley, including fishing and community sports facilities.
The rental market is characterized by limited inventory and steady demand, with rents largely influenced by HUD fair-market guidelines.
The economy is anchored by agriculture, local government, and small-scale retail services.
Transportation is dominated by private vehicle use on state highways; public transit options are minimal.
There are no major large-scale commercial or residential developments currently approved or under construction.
Brown County Assessor manages property valuations based on annual market analysis and state-mandated assessment cycles.
Parcels are subject to standard school district and county-level levies, with no significant MUD or PID presence.
Property insurance premiums are stable, though coverage for wind and hail damage remains a standard consideration for homeowners.
Net domestic migration is relatively flat, with modest turnover typical of rural Minnesota communities.
Minnesota operates as a judicial foreclosure state with specific statutory redemption periods for homeowners.
Sellers are required to provide a comprehensive disclosure statement regarding the physical condition of the property.
Data retrieved from ZCTA 56087 census 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.
Provides local green space and recreational facilities for residents.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.