The story of this market
The typical home in ZIP 56072 sells for about $312,450, or $148 per square foot.
Prices are up +2.1% 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 $779 a month.
ZIP 56072 — New Richland
The housing market in 56072 is characterized by low inventory and steady, modest price appreciation. Demand remains consistent among local buyers, though the limited number of listings keeps sales volume low. The market is stable, reflecting broader regional trends of slow but steady growth.
This ZIP is best suited for families and individuals seeking a quiet, rural lifestyle with affordable housing costs and a strong sense of community.
Median prices moved up 2.1% year over year.
Homes spend a median of 68 days on market with 6.0 months of supply — a balanced-paced market.
8% of listings have cut prices · homes sell at 98.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.5% · poverty 5.1% — 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 7.4%/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 7.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 56072, Blue Earth 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 this rural Minnesota area are significantly lower than the national average, with property and violent crime incidents being rare.
Schools serving the area are part of smaller regional districts that generally maintain stable performance ratings and focus on community-based education.
The area faces standard Midwestern climate risks, including severe thunderstorms and winter weather, with flood risk primarily localized to low-lying areas near regional waterways.
Economic momentum is driven by regional agriculture, local manufacturing, and small-business services, with limited large-scale infrastructure development.
Property taxes are assessed at the county level based on market value, with standard homestead exemptions available for primary residences.
Commutes are primarily car-dependent, with residents traveling to nearby regional employment hubs via state highways.
The area features access to local parks, regional trails, and proximity to small lakes suitable for fishing and seasonal outdoor activities.
The rental market is limited in depth, consisting mostly of single-family homes and small multi-family units with low turnover and stable pricing.
The local economy is anchored by agricultural production and small-scale manufacturing, with many residents commuting to larger nearby cities for professional services.
Transportation is almost exclusively via private vehicle, with regional highway access connecting the area to larger employment centers.
There are no major large-scale commercial or residential developments currently approved or under construction in this ZIP.
The Blue Earth County Assessor manages property valuations, utilizing annual market analysis to determine taxable values.
Parcels are subject to county, township, and school district levies, with no major MUD or PID developments reported.
Property insurance premiums are generally stable, though coverage for wind and hail damage is a standard consideration for homeowners.
Data retrieved from data.census.gov 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.
- Waseca Water Park4.513.3 mi
- Harmony Park4.914.7 mi
- Steele County Four Seasons Centre4.618.4 mi
- Steele County Free Fair4.718.3 mi
- Torey's Restaurant & Bar4.519.1 mi
- Wedgewood Cove Golf Course & Restaurant4.320 mi
- Clear Lake Park4.412.2 mi
- Minnesota State Public School Orphanage Museum4.618.8 mi
- Steele County Historical Society4.718.6 mi
- Clear Lake Park4.412.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Local community park with playground and picnic facilities.
Provides regional access for fishing and nature observation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.