56162 — Martin County, Minnesota Market Snapshot
Housing market data for zip code 56162 in Martin County, Minnesota. Updated monthly with median prices, days on market, and more.
Limited Sales Data
Only 1 home sold in this ZIP code during the selected period. Statistics may not be representative. See the Martin County county page for broader data.
Market Sales Data
1 sales in 2025
Median Sale Price
$112,800
Days to Sell
74
Homes Sold
1
Inventory
N/A
Conforming Loan Available
Most homebuyers in 56162 can comfortably use conventional financing. The median home price of $112,800 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
With homes sitting for 74 days on average, 56162 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Conforming Loan Feasibility
Most homebuyers in 56162 can comfortably use conventional financing. The median home price of $112,800 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 56162 are set at the county level.
2026 Loan Limits — Martin 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 56162
To purchase the median home at $112,800 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,014.
Monthly Payment
$1,014
Income Required
$43,467
Principal & Interest
$695/mo
Down Payment (5%)
$5,640
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 56162.
Estimated Monthly Payment
$848
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