The story of this market
The typical home in ZIP 56158 sells for about $280,000, or $174 per square foot.
Prices are up +19.4% from a year ago, so sellers still have some momentum. Homes take about 87 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $715 a month.
ZIP 56158 — Magnolia
The housing market in 56158 is characterized by very low inventory and limited transaction volume, typical of a small rural community. Prices have shown growth, but the market remains quiet with few active listings and long days on market. Demand is driven by local residents and those seeking rural affordability.
This ZIP is best suited for those seeking a quiet, rural lifestyle, including families and individuals looking for affordable housing options away from major urban centers.
Median prices moved up 19.4% year over year.
Homes spend a median of 87 days on market with 6.0 months of supply — a balanced-paced market.
0% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.2% · poverty 13.7% — a stable, low-distress profile.
versus the prior ACS vintage
ZCTA 56158, Rock 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.
The area is served by the Luverne Public School District, which is generally regarded as a stable rural district.
The region is subject to standard Midwestern weather risks including severe thunderstorms and winter weather; flood risk is generally low.
The local economy is primarily driven by agriculture and small-town commerce with limited large-scale industrial development.
Property taxes are assessed at the county level in Rock County, Minnesota, based on market value with standard state-level homestead exemptions.
Commuting is primarily by private vehicle with travel times to regional employment hubs like Luverne or Sioux Falls, SD, typically exceeding 20-30 minutes.
Recreation is centered on rural outdoor activities, local parks, and community-based sports facilities within the small town of Magnolia.
The rental market is very limited with low inventory and primarily consists of single-family homes.
The economy is heavily reliant on the agricultural sector and small-scale local businesses serving the surrounding rural community.
Transportation is entirely dependent on personal vehicles; there is no public transit infrastructure.
There are no major commercial or residential developments currently planned or under construction in this rural ZIP code.
Rock County Assessor manages property valuations for tax purposes using standard Minnesota assessment guidelines.
Parcels are subject to Rock County and Luverne Public School District levies.
Property insurance premiums are consistent with rural Minnesota standards, reflecting risks associated with wind and hail.
Minnesota is a judicial foreclosure state with specific statutory redemption periods.
Minnesota law requires sellers to provide a written disclosure statement regarding the condition of the property.
Data retrieved from data.census.gov ZCTA 56158 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 basic outdoor recreation space.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.