56517, Beltrami, MN

Beltrami, MN is located in the southern part of Minnesota and has a population of about 10,000 people. The 56517 zip code covers a total area of about 4 square miles and has a median home value of $151,000. Home prices in Beltrami have been increasing at a rate of about 6% per year over the past five years.

The main drivers of home equity and home prices in Beltrami are demographics, economic conditions, and interest rates. The population growth in Beltrami is primarily due to an increase in the number of retirees who are moving to the area. The economy has been strong over the past few years, which has led to an increase in demand for housing. Interest rates have been relatively stable over the past few years, which has helped to keep prices relatively high.

There are some risks that could impact home values in Beltrami over the long term. If interest rates rise significantly, this could lead to a decrease in prices as buyers may be less able to afford homes. Additionally, if there is another recession or financial crisis, this could lead to an increase in defaults on mortgages and decreased demand for housing stock overall.