The story of this market
The typical home in ZIP 56088 sells for about $212,450, or $82 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 94 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,039 a month.
ZIP 56088 — Truman
The housing market in 56088 is characterized by low inventory and stable, modest price growth consistent with rural Minnesota trends. Activity is driven by local demand for single-family homes, with limited new construction keeping supply tight. Market conditions remain balanced due to the low volume of transactions.
This ZIP is best suited for families and individuals seeking a quiet, rural lifestyle with affordable housing options and a strong sense of community.
Median prices moved up 3.2% year over year.
Homes spend a median of 94 days on market with 7.0 months of supply — a slower-moving market.
14% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 1.6% · poverty 8.6% — 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 7.1%/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 6.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56088
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by rural independent school districts which generally maintain small class sizes and community-focused programming.
The region is primarily concerned with severe thunderstorm and winter weather risks; flood risk is localized to specific low-lying areas near regional waterways.
Economic momentum is driven by regional agriculture and small-scale manufacturing, with limited new large-scale commercial development.
Property taxes are assessed at the county level based on market value; agricultural land may qualify for specific state-level green-acre tax deferment programs.
Commutes are primarily car-dependent, with residents traveling to nearby regional hubs like Windom or Mankato for employment.
Recreation is centered on outdoor activities including local parks, fishing in nearby lakes, and community-based sports facilities.
The rental market is characterized by low inventory and high demand for single-family housing, with limited multi-family supply.
The local economy is heavily reliant on the agricultural sector, including crop production and related agribusiness services.
Transportation is entirely reliant on private vehicles, with no public transit infrastructure available in this rural area.
Development is currently limited to small-scale residential improvements and maintenance of existing infrastructure.
Parcels are subject to local school district levies and county-wide administrative taxes.
Property insurance premiums are influenced by regional weather patterns, specifically wind and hail risk common in Southern Minnesota.
Data retrieved from data.census.gov ZCTA 56088 profile.
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.
Local community park providing green space and recreational facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.