56567 — Otter Tail County, Minnesota Market Snapshot
Housing market data for zip code 56567 in Otter Tail County, Minnesota. Updated monthly with median prices, days on market, and more.
Market Sales Data
12 sales in 2026 (year to date)
Median Sale Price
$224,950
Days to Sell
101
Homes Sold
12
Inventory
9
Sale-to-List
97.1%
New Listings
11
Price/SqFt
$158
Pending Sales
9
Conforming Loan Available
Most homebuyers in 56567 can comfortably use conventional financing. The median home price of $224,950 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
With homes sitting for 101 days on average, 56567 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
The average home in 56567 sells for 2.9% below asking price (97.1% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
Most homebuyers in 56567 can comfortably use conventional financing. The median home price of $224,950 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 56567 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 56567
To purchase the median home at $224,950 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,873.
Monthly Payment
$1,873
Income Required
$80,293
Principal & Interest
$1,386/mo
Down Payment (5%)
$11,248
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 56567.
Estimated Monthly Payment
$1,542
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