The story of this market
The typical home in ZIP 56172 sells for about $185,000, or $115 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 68 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $717 a month.
ZIP 56172 — Slayton
The housing market in 56172 is characterized by low inventory and steady, modest price appreciation. Demand remains consistent with local employment levels, resulting in a stable market with limited volatility.
This ZIP is best suited for families and individuals seeking an affordable, quiet, small-town lifestyle with strong community ties and proximity to agricultural employment.
Median prices moved up 2.4% year over year.
Homes spend a median of 68 days on market with 4.2 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 1.8% · poverty 12.6% — 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 4.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 56172, Murray 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 Slayton are generally low and consistent with rural southwestern Minnesota trends, remaining well below national averages.
The area is served by Murray County Central Schools, which maintains a stable reputation for small-town educational outcomes and community-focused programming.
The region faces standard Midwestern climate risks, including severe thunderstorms and occasional winter weather impacts; flood risk is generally low outside of immediate riparian zones.
Economic momentum is driven by regional agriculture, local government, and small-scale manufacturing, with limited large-scale industrial development.
Property taxes are assessed at the county level based on market value; the rate is determined by local school district and municipal levies, with standard Minnesota homestead exemptions available.
Commutes are primarily local within Murray County, with minimal traffic congestion and limited public transit options.
The area features access to local parks, nearby Lake Shetek State Park for water recreation, and community-based golf and sports facilities.
The rental market is characterized by low inventory and steady demand from local workers, with limited turnover and minimal short-term rental presence.
The economy is anchored by agricultural production, food processing, and local public sector employment.
Transportation relies on regional highway corridors; there is no significant public transit infrastructure.
Development is primarily focused on small-scale residential infill and local infrastructure maintenance.
Parcels are subject to Murray County Central ISD levies and local municipal utility districts.
Insurance premiums are stable, reflecting low-to-moderate risk profiles for wind and fire in the region.
Data retrieved from 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.
Major regional destination for camping, fishing, and boating.
Local 9-hole course serving the community.
Hosts annual county fair and community events.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.