The story of this market
The typical home in ZIP 55923 sells for about $307,133, or $128 per square foot.
Prices are up +5.5% from a year ago, so sellers still have some momentum. Homes take about 41 days to sell. HUD's fair market rent for a two-bedroom is $2,085 a month.
ZIP 55923 — Chatfield
The Chatfield 55923 housing market is currently balanced with a median sale price of $307,133 and a 5.5% year-over-year increase. Market activity remains steady with 56 homes sold in the last 12 months and a moderate inventory level. Some metrics like median days on market and specific tax history were not fully available at the ZIP level and are omitted.
This ZIP is well-suited for family buyers and those seeking a small-town lifestyle with access to the Rochester employment core, offering a balance of affordability and quality of life.
Median prices moved up 5.5% year over year.
Homes spend a median of 41 days on market with 4.5 months of supply — a fast-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 0.9% · poverty 4.0% — 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 3.2%/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 6.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 55923
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is characterized as a tranquil neighborhood with a calm atmosphere and low levels of noise and traffic disruption. Specific crime statistics are not determinable through current public market reports.
The area is served by Chatfield Public Schools, which maintains strong academic ratings including an A- for the elementary school and an A for the secondary school.
The FEMA National Risk Index for the county is relatively low, with coldwave identified as the primary natural hazard. Parts of the area are located in FEMA Flood Zone A.
The area shows stable economic momentum with a balanced housing market and proximity to regional employment hubs in Rochester.
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 is primarily car-dependent, with residents commuting to nearby employment centers such as Rochester.
The area features local parks and access to outdoor recreation typical of the Driftless region, with basic shopping and dining available in the city of Chatfield.
The rental market is characterized by limited inventory and steady demand, with a median rent of approximately $2,085.
The local economy is supported by a mix of agriculture, local services, and commuting residents working in the broader Rochester medical and technology sectors.
Transportation is primarily served by regional highway corridors connecting Chatfield to Rochester and surrounding communities.
Planning remains focused on residential growth and utility infrastructure maintenance. No major industrial or mega-projects are currently listed.
Parcels are served by the Chatfield Public School District.
The property-insurance posture is typical for Southern Minnesota with standard residential risk profiles regarding cold, wind, and storm exposure.
Data retrieved from census.gov and local market reports.
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. Source: NCES EDGE public school locations 2023-24.
- Air Insanity Indoor Trampoline Park4.315.5 mi
- Mayo Civic Center4.516.8 mi
- Forager Brewery4.517.7 mi
- Four Daughters Vineyard & Winery, Loon Juice Hard Cider, and The Traditionalist Bourbon Distillery4.617.3 mi
- Graham Arena Complex4.315.8 mi
- Café Steam4.616.8 mi
- Chester Woods Park4.710.8 mi
- Root River Park4.410 mi
- Gamehaven Reservoir4.612.7 mi
- Shari's Sports Saloon & Lanes4.41.5 mi
- Rochester Art Center4.416.6 mi
- Historic Mayowood4.818 mi
- SPARK, Children's Museum4.516.7 mi
- History Center of Olmsted County4.718.1 mi
- Rochester Civic Theatre4.716.7 mi
- Chester Woods Park4.710.8 mi
- Root River Park4.410 mi
- Gamehaven Reservoir4.612.7 mi
- St. Charles Golf Course4.310.1 mi
- Rochester International Airport4.214.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
Local community park providing green space and recreational facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.