The story of this market
The typical home in ZIP 56256 sells for about $174,500, or $105 per square foot.
Prices are up +4.5% from a year ago, so sellers still have some momentum. Homes take about 112 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $839 a month.
ZIP 56256 — Madison
The housing market in 56256 is characterized by low inventory and slow turnover, typical of a rural agricultural community. Prices have seen modest appreciation, but the market remains highly affordable compared to state averages. Demand is driven primarily by local residents and those seeking a low-cost rural lifestyle.
This ZIP is best suited for families and individuals seeking affordable rural living, agricultural workers, and those looking for a quiet, small-town lifestyle.
Median prices moved up 4.5% year over year.
Homes spend a median of 112 days on market with 8.3 months of supply — a slower-moving market.
12% 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 1.9% · poverty 7.9% — 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 6.9%/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 4.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56256, Lac qui Parle County MN
The area is served by Lac qui Parle Valley School District, which provides rural public education services.
The region is primarily agricultural with standard Midwestern weather risks; flood and wind insurance are recommended for property owners.
The local economy is driven by agriculture and small-town commerce, with limited large-scale industrial development.
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.
Commutes are primarily local within Madison or to nearby agricultural hubs; transit options are non-existent.
Local amenities include city parks, community centers, and proximity to regional outdoor recreation areas in the Minnesota River Valley.
The rental market is characterized by small-scale multi-family housing and single-family rentals with low turnover.
The economy is heavily reliant on the agricultural sector, local government, and small-scale retail services.
Transportation is entirely dependent on private vehicles via state highway corridors.
No major large-scale commercial or residential developments are currently reported.
The Lac qui Parle County Assessor manages property valuations based on market sales and agricultural land use.
Parcels are subject to Lac qui Parle Valley ISD and county-level utility and drainage district assessments.
Standard property insurance is available, though premiums are influenced by regional weather-related risk factors.
Data retrieved from Census Reporter and data.census.gov 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.
Regional outdoor recreation area.
Local community green space.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.