The story of this market
The typical home in ZIP 56277 sells for about $179,900, or $125 per square foot.
Prices are up +2.5% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $798 a month.
ZIP 56277 — Olivia
The housing market in 56277 is stable, characterized by modest price growth and low inventory levels. Demand remains consistent among local buyers, driven by the area's affordability compared to larger regional centers. Sales activity is limited, reflecting the rural nature of the market.
This ZIP is best suited for families and individuals seeking an affordable, quiet, small-town lifestyle with a low cost of living.
Median prices moved up 2.5% year over year.
Homes spend a median of 45 days on market with 6.2 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.7% · poverty 14.1% — 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 5.1%/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 3.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56277, Renville 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.
The area is served by the Bird Island-Olivia-Lake Lillian Public School District, which provides K-12 education.
The local economy is anchored by agricultural services and regional trade, with steady but modest development momentum.
Property taxes are assessed at the county level by Renville County, with rates determined by local school district and municipal levies.
Commutes are primarily car-dependent, with residents typically traveling to nearby regional employment hubs within Renville County.
The area features local parks and community-focused recreational facilities typical of rural Minnesota, with limited large-scale commercial shopping.
The rental market is characterized by low inventory and stable demand, primarily serving local workers and small families.
The economy is heavily influenced by the agricultural sector, with support services and local government serving as primary employers.
Transportation is primarily via regional highway corridors; public transit options are limited.
Development is focused on maintaining existing infrastructure and small-scale residential improvements.
Renville County Assessor manages property valuations for tax purposes.
Parcels are subject to school district levies and county-wide special service districts.
Standard property insurance coverage is available, with premiums reflecting regional weather risks.
Minnesota operates as a judicial foreclosure state with specific redemption periods.
Sellers are required to provide a disclosure statement regarding the condition of the property.
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.
Local community park providing green space and recreational areas.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.