The story of this market
The typical home in ZIP 56142 sells for about $185,000, or $112 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 98 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $658 a month.
ZIP 56142 — Ivanhoe
The housing market in 56142 is characterized by low inventory and slow turnover, reflecting a stable rural environment. Prices have seen modest year-over-year growth, driven by limited supply rather than high demand. The market remains balanced for local buyers and sellers.
This ZIP is best suited for families and individuals seeking a quiet, affordable rural lifestyle with strong community ties and low cost of living.
Median prices moved up 2.4% year over year.
Homes spend a median of 98 days on market with 6.5 months of supply — a slower-moving market.
8% 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 4.9% · poverty 12.7% — 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 5.4%/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 3.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56142, Lincoln 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 Ivanhoe are generally low and consistent with rural southwestern Minnesota trends, significantly below national averages.
The area is served by the Lincoln HI School District, which provides small-town educational settings with a focus on community-integrated learning.
The region faces standard Midwestern climate risks, including severe thunderstorms and winter weather; flood risk is localized near the Yellow Medicine River.
Economic momentum is driven by local agriculture and small-scale service industries, with limited large-scale industrial development.
Property taxes are assessed at the county level in Lincoln County, with rates determined by local school district levies and municipal requirements.
Commutes are primarily local or involve travel to nearby regional hubs via U.S. Highway 75 and Minnesota State Highway 19.
Local amenities include community parks and access to outdoor recreation typical of the Minnesota prairie landscape.
The rental market is limited in depth, primarily consisting of single-family homes and small multi-family units with low turnover.
The economy is anchored by agricultural production, local government, and small-business services.
Transportation relies on private vehicles; there is no public transit infrastructure.
No major commercial or residential developments are currently in the pipeline.
Lincoln County Assessor manages property valuations based on annual market analysis.
Parcels are subject to Lincoln County and local school district tax levies.
Property insurance premiums are stable, reflecting low hazard exposure compared to urban centers.
Net domestic migration is generally flat, typical of rural Minnesota counties.
Minnesota operates as a judicial foreclosure state with specific redemption periods.
Sellers are required to provide a comprehensive disclosure statement regarding property condition.
Data retrieved from U.S. Census Bureau 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.
Intermittent stream providing local scenic and recreational value.
Central community space for local gatherings and outdoor activities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.