The story of this market
The typical home in ZIP 56537 sells for about $197,600, or $112 per square foot.
Prices are up +4.9% from a year ago, so sellers still have some momentum. Homes take about 84 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $950 a month.
ZIP 56537 — Fergus Falls
The housing market in 56537 remains stable with moderate price growth and consistent inventory levels. Demand is driven by local employment stability and the area's affordability relative to larger metro markets. Some figures, such as specific monthly sales counts and precise price-cut percentages, are not explicitly published at the ZCTA level and are omitted.
This ZIP is well-suited for families and retirees seeking an affordable, small-town lifestyle with access to outdoor amenities and a stable regional economy.
Median prices moved up 4.9% year over year.
Homes spend a median of 84 days on market with 6.2 months of supply — a balanced-paced market.
12% 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 3.8% · poverty 10.2% — 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 4.3%/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 4.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56537, Otter Tail County MN
Fergus Falls maintains a relatively low crime rate compared to national averages, with local law enforcement managing three primary locations to serve the community.
The area is served by the Fergus Falls Public School District, which is generally regarded as providing stable educational opportunities for local families.
The region faces standard Midwestern climate risks, including seasonal severe weather and potential for localized flooding near water bodies; property insurance remains standard for the region.
Economic momentum is driven by local healthcare, education, and manufacturing sectors, with steady infrastructure maintenance supporting the city's role as a regional hub.
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.
Commuting is primarily car-dependent, with Highway 59 and I-94 serving as the main arteries for regional travel.
The area features numerous lakes, parks, and trails, including the Central Lakes Trail, providing extensive outdoor recreation opportunities within a short distance.
The rental market shows significant vacancy pressure, particularly in the rental sector, with a mix of long-term housing and limited short-term rental activity.
The economy is anchored by healthcare services, manufacturing, and the public school district, serving as a commercial center for Otter Tail County.
Transportation is dominated by private vehicle use, with I-94 providing critical access to the broader Minnesota region.
Development is focused on residential infill and small-scale commercial expansion within the city limits.
Otter Tail County Assessor manages property valuations based on market-value assessments conducted periodically.
Parcels are subject to school district levies and county-wide special service districts.
Property insurance premiums are stable, reflecting the moderate risk profile of the region.
Data retrieved from US Census Bureau ZCTA profiles.
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.
A major regional trail system for biking and hiking.
Provides fishing, kayaking, and scenic views throughout the city.
A central hub for local events and resources.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.