56537 — Otter Tail County, Minnesota Market Snapshot
Housing market data for zip code 56537 in Otter Tail County, Minnesota. Updated monthly with median prices, days on market, and more.
Market Sales Data
46 sales in 2026 (year to date)
Median Sale Price
$229,950
Days to Sell
17
Homes Sold
46
Inventory
55
Sale-to-List
100.3%
New Listings
90
Price/SqFt
$137
Pending Sales
66
Conforming Loan Available
Most homebuyers in 56537 can comfortably use conventional financing. The median home price of $229,950 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
Homes in 56537 are moving quickly at 17 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes are selling very close to asking price in 56537 (100.3% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 56537 can comfortably use conventional financing. The median home price of $229,950 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 56537 are set at the county level.
2026 Loan Limits — Otter Tail 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 56537
To purchase the median home at $229,950 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,912.
Monthly Payment
$1,912
Income Required
$81,935
Principal & Interest
$1,417/mo
Down Payment (5%)
$11,498
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 56537.
Estimated Monthly Payment
$1,573
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