56601, Bemidji, MN

The home equity and home prices in the 56601 zip code of Bemidji, MN are reflective of the overall market conditions in the area. Over the past year, home values have increased by 2.4%, which is above the national average of 1.9%. The median home value in this zip code is $142,000, which is significantly higher than the statewide median of $130,000. This indicates that there is a high demand for homes in this area and that buyers are willing to pay a premium for properties here.

One reason for this high demand may be that Bemidji has a strong economy. The city has experienced steady growth over the past few years and its unemployment rate is below the statewide average. Additionally, there are many jobs available in nearby cities such as Cloquet and Brainerd, which may contribute to increased demand for housing stock in Bemidji.

Despite these positive factors, not all areas of Minnesota are experiencing robust housing market conditions right now. In fact, some parts of the state are seeing prices decline due to low inventory levels and increasing competition from other areas within the state or across state lines. So while it's definitely important to do your research before buying a property anywhere in Minnesota, it's also important to remember that no one region will experience every type of market condition at any given time.