56007 — Freeborn County, Minnesota Market Snapshot
Housing market data for zip code 56007 in Freeborn County, Minnesota. Updated monthly with median prices, days on market, and more.
Market Sales Data
64 sales in 2026 (year to date)
Median Sale Price
$198,800
Days to Sell
34
Homes Sold
64
Inventory
78
Sale-to-List
97.6%
New Listings
89
Price/SqFt
$121
Pending Sales
66
Conforming Loan Available
Most homebuyers in 56007 can comfortably use conventional financing. The median home price of $198,800 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
56007's market is balanced with homes taking an average of 34 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
The average home in 56007 sells for 2.4% below asking price (97.6% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
Most homebuyers in 56007 can comfortably use conventional financing. The median home price of $198,800 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 56007 are set at the county level.
2026 Loan Limits — Freeborn County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 56007
To purchase the median home at $198,800 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,673.
Monthly Payment
$1,673
Income Required
$71,706
Principal & Interest
$1,225/mo
Down Payment (5%)
$9,940
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 56007.
Estimated Monthly Payment
$1,380
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