56621, Bagley, MN

The Bagley, MN 56621 zip code has a population of approximately 10,000 people. The median household income in the 56621 zip code is $72,000 and the median home value is $206,000. The 56621 zip code has a homeownership rate of 69% and a rental rate of 31%.

There are a number of factors that affect home prices in the 56621 zip code. These include local economic conditions, interest rates, and availability of housing. Generally speaking, when there is an increase in demand for housing (due to an increase in population or an increase in income), home prices will rise. Conversely, when there is a decrease in demand for housing (due to a decrease in population or an increase in income), home prices will fall.

In recent years, the Bagley, MN 56621 zip code has seen relatively stable home prices. This is likely due to the fact that there are not too many major changes happening locally that would impact home values (e.g., an influx of new residents or an influx of new jobs). In addition, interest rates have remained relatively stable over the past few years (although they have recently increased slightly). This means that borrowers are still able to obtain mortgages at reasonable rates despite rising interest rates.

Overall, it appears that the Bagley, MN 56621 zip code remains fairly healthy economically – which likely contributes to its stable home prices over time.