Minnesota

Watonwan County

ZIP 56056

11,169 residents12 permits TTM$70,593 median HHI6 ZIP codesUpdated April 16, 2026
Investor first look

Median home value

$151,600

ACS 5-Year

Cap rate proxy

6.4%

FMR × 0.65 ÷ Home Value

Rent-to-income

13.7%

HUD FMR ÷ ACS HHI

Net migration

+0.29%

IRS SOI

Permits (TTM)

12

Census BPS

Climate risk

23.9

FEMA NRI (0–100)

ZIP 56056

Median home value

$151,600

Gross yield

7.7%

Cap rate

6.4%

Rent gap

17.1%

Affordability

P/I: 2.1R/I:

Section 8 detail

SAFMR: $973Rent: $807Gap: 20.6%
ZIP code breakdown6 ZIP codes

Numbers repeat across most ZIPs in this county

ZIP-level home-value data isn't published for rural areas. Federal sources (Census ACS, HUD non-metro FMR) are available at the county level only, so home-value, cap-rate, and rent-gap numbers use the county estimate for every ZIP in the county.

ZIPMedian home valueRent (FMR 2BR)Gross yieldCap rateRent gap
56022$151,600county est.$9737.7%6.4%17.1%
56056$151,600county est.$9737.7%6.4%17.1%
56060$151,600county est.$9737.7%6.4%17.1%
56062$201,288$9735.8%4.8%17.1%
56081$162,775$9737.2%5.9%17.1%

Ranked by composite score

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Demographics

Owner-occupied

78.2%

Census ACS

Vacancy rate

12.0%

Census ACS

Bachelor's degree +

18.2%

Census ACS

Rent burdened

30.1%

Census ACS (>30% income)

Median age

40.6

Census ACS

Data sources
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026