56531, Elbow Lake, MN Housing Market

ZIP code 56531's median home value is $207K, up 8.9% over the past year. Homes here sell in a median 63 days. Its PropertyIQ Score of 24 sits below the state average of 50, marking a market positioned to lag its state over the next three years.

56531, Elbow Lake, MN is one of nearly 20,000 U.S. ZIP codes that PropertyIQ analyzes with AI-powered demand signal scoring. ZIP-level analysis provides the most hyperlocal view of housing market dynamics available, measuring how demand within 56531 compares to the MN state average and identifying outperformance potential before it appears in price data.

Midwestern ZIP codes frequently offer entry prices far below national medians, but performance varies dramatically even within the same city. PropertyIQ scores individual ZIP codes to identify which neighborhoods show the demand signals — fast sales, rising price momentum, few price cuts — that predict near-term appreciation. Within the Midwest, ZIP code 56531's PropertyIQ Score of 24 runs below the Midwest norm.

The PropertyIQ Score for 56531, Elbow Lake, MN is built from four inputs measured at the ZIP-code level: Zillow home-value momentum over twelve months, Zillow home-value momentum over three months, the median days listings spend on the market (Realtor.com), and the share of listings with a price cut (Realtor.com). The score runs on a 1 to 99 scale computed across all ZIP codes nationally and calibrated so 50 equals the state average, so a score above 50 points to a micro-market positioned to outperform its state.

View 56531, Elbow Lake, MN's PropertyIQ Score and compare it against other ZIP codes in the state. Generate a free AI market report for this ZIP code or explore historical trends on the interactive map to understand how this micro-market has evolved.