The story of this market
The typical home in ZIP 56114 sells for about $43,500, or $93 per square foot.
Homes take about 93 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,310 a month.
ZIP 56114 — Avoca
The 56114 housing market is characterized by extremely low inventory and very low transaction volume, with only 4 sales recorded over the last year. Prices vary significantly based on property type, with waterfront listings commanding higher premiums than the median home value. Market conditions remain stable due to the rural nature of the area and limited new development.
This ZIP is best suited for those seeking rural, waterfront-adjacent living or affordable housing options in a very low-density setting.
Median prices moved sideways 0.0% year over year.
Homes spend a median of 93 days on market with 0.0 months of supply — a slower-moving market.
0% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 1.2% · poverty 23.0% — a stable, low-distress profile.
ZCTA 56114, Murray County MN
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.
The area features proximity to Lime Lake, offering local waterfront access and outdoor recreation opportunities.
The rental market is limited with a focus on 3+ bedroom single-family homes; Fair Market Rent for a 2-bedroom unit is $1,310.
The local economy is primarily rural and agricultural, with limited major commercial or industrial employers within the ZIP code.
Data retrieved from Data Commons and Census Bureau sources.
No public schools report a street address in this area. Source: NCES EDGE public school locations 2023-24.
A local water body providing recreational access and waterfront residential settings.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.