ZIP Code Market Report
56470 — Park Rapids, MN
Data through February 2026 · Updated monthly
Avg Home Value
$311,392
▲ 3.6% year-over-year
Month-over-Month
-0.1%
▼ 0.1%
Single Family
$308,927
Condo / Co-op
--
The average home value in the 56470 ZIP code (Park Rapids, MINNESOTA) is $311,392 as of February 2026. Home prices are rising, up 3.6% compared to last year.
A 3-bedroom home in 56470 is valued at $337,418.
The market in 56470 has a $334,388 spread between bottom-tier homes at $179,608 and top-tier homes at $513,996. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
This report is part of the Hubbard County market area in MINNESOTA. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Hubbard County report.
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Market Snapshot
56470 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $314,083 | $311,585 | $311,392 | ▼ 0.9% |
| Single Family Value | $306,069 | $307,297 | $308,927 | ▲ 0.9% |
Home Values
56470 Home Value Trend
Historical home values for ZIP code 56470. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 56470
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 2 Bedrooms | $293,446 |
| 3 Bedrooms | $337,418 |
| 4 Bedrooms | $382,096 |
Property Types
Home Values by Property Type in 56470
How different property types compare in this ZIP code.
All Homes
$311,392
Single Family
$308,927
Bottom Tier
$179,608
Top Tier
$513,996
Data Sources and Methodology
Home value data for ZIP code 56470 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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