56576 — Otter Tail County, Minnesota Market Snapshot
Housing market data for zip code 56576 in Otter Tail County, Minnesota. Updated monthly with median prices, days on market, and more.
Limited Sales Data
Only 4 homes sold in this ZIP code during the selected period. Statistics may not be representative. See the Otter Tail County county page for broader data.
Market Sales Data
4 sales in 2026 (year to date)
Median Sale Price
$413,500
Days to Sell
302
Homes Sold
4
Inventory
13
Conforming Loan Available
Most homebuyers in 56576 can comfortably use conventional financing. The median home price of $413,500 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 302 days on average, 56576 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 56576 can comfortably use conventional financing. The median home price of $413,500 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 56576 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 56576
To purchase the median home at $413,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $3,318.
Monthly Payment
$3,318
Income Required
$142,205
Principal & Interest
$2,548/mo
Down Payment (5%)
$20,675
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 56576.
Estimated Monthly Payment
$2,709
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