The story of this market
The typical home in ZIP 56116 sells for about $215,000, or $142 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 68 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $980 a month.
ZIP 56116 — Beaver Creek
The housing market in 56116 remains stable with low inventory and modest price appreciation. Demand is driven by local residents and those seeking rural affordability, though limited sales volume keeps the market quiet.
This ZIP is best suited for families and individuals seeking a quiet, rural lifestyle, affordable housing, and a strong sense of community, rather than urban amenities or high-density living.
Median prices moved up 2.4% year over year.
Homes spend a median of 68 days on market with 4.2 months of supply — a balanced-paced market.
13% 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 0.7% · poverty 5.0% — 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 5.3%/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 5.0%/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 56116, Murray 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 this rural Minnesota area are consistently low, with property and violent crime incidents significantly below both state and national averages.
Schools serving this area are part of small, rural districts that generally maintain stable student-to-teacher ratios and community-focused educational environments.
The area faces moderate risk from severe winter weather and occasional spring flooding near local waterways, with standard insurance coverage typically available.
Economic momentum is driven primarily by regional agriculture, local manufacturing, and small-scale service industries, with limited large-scale commercial development.
Property taxes are assessed at the county level based on market value, with local school district levies and municipal service fees comprising the primary tax burden.
Commutes are primarily car-dependent, with residents traveling to nearby regional hubs for employment via state highways.
The area offers access to local parks, community sports fields, and proximity to regional lakes and trails suitable for outdoor recreation.
The rental market is characterized by low inventory and high demand for single-family units, with limited turnover and stable rent growth.
The local economy is anchored by agricultural production, food processing, and small-town retail services.
Transportation infrastructure is limited to state and county highway networks with no public transit systems.
There are no major large-scale commercial or residential developments currently approved or under construction in this ZIP.
The Murray County Assessor manages property valuations, utilizing a mass appraisal system for annual tax assessments.
Parcels are subject to local school district taxes and county-wide administrative levies.
Property insurance premiums are stable, though coverage for wind and hail damage remains a standard consideration for homeowners.
Net domestic migration is generally flat, with modest shifts reflecting regional employment trends.
Minnesota is a judicial foreclosure state, requiring court oversight for the foreclosure process.
Sellers are required to provide a written disclosure statement regarding the condition of the property at the time of sale.
Data retrieved from data.census.gov 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.
A major regional attraction offering camping, fishing, and boating opportunities.
Hosts annual community events and regional gatherings.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.