The story of this market
The typical home in ZIP 56141 sells for about $109,600, or $184 per square foot.
Homes take about 120 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $710 a month.
ZIP 56141 — Iona
The housing market in 56141 is characterized by low inventory and very limited sales activity, typical of a small, rural agricultural community. Prices remain stable with minimal year-over-year growth, reflecting a stagnant population base. The market is driven by local demand rather than speculative investment.
This ZIP is best suited for those seeking affordable rural living, agricultural workers, or retirees looking for a quiet, low-cost environment.
Median prices moved sideways 0.0% year over year.
Homes spend a median of 120 days on market with 5.0 months of supply — a slower-moving 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 10.7% · poverty 18.7% — a mixed stability 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 2.9%/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 3.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56141
Local schools are part of rural district systems serving the broader Murray County area.
The area is subject to standard Midwestern weather risks including wind and occasional severe storms; flood risk is localized.
The local economy is primarily agricultural with limited new development momentum.
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 by private vehicle to nearby regional hubs like Slayton or Worthington.
Recreation is centered on rural outdoor activities, local parks, and proximity to regional lakes in Murray County.
The rental market is limited with low turnover and primarily serves local agricultural or service workers.
The economy is heavily reliant on agriculture and agribusiness, with employment concentrated in farming and local service sectors.
Transportation is entirely dependent on personal vehicles; no public transit infrastructure exists.
There are no major commercial or residential developments currently approved or under construction in this ZIP.
Murray County Assessor manages property valuations based on market-based assessment cycles.
Parcels are subject to county, township, and school district levies.
Insurance premiums are stable but reflect regional exposure to severe weather events.
Data retrieved from Census Bureau ZCTA profiles.
No public schools report a street address in this area. Source: NCES EDGE public school locations 2023-24.
Local community green space.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.