ZIP Code Market Report
56554 — Lake Park, MN
Data through February 2026 · Updated monthly
Avg Home Value
$397,900
▲ 3.5% year-over-year
Month-over-Month
-0.1%
▼ 0.1%
Single Family
$392,520
Condo / Co-op
--
The average home value in the 56554 ZIP code (Lake Park, Minnesota) is $397,900 as of February 2026. Home prices are rising, up 3.5% compared to last year.
A 3-bedroom home in 56554 is valued at $433,092.
The market in 56554 has a $451,662 spread between bottom-tier homes at $219,670 and top-tier homes at $671,332. 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 Becker County market area in Minnesota. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Becker County report.
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Market Snapshot
56554 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 | $399,972 | $398,372 | $397,900 | ▼ 0.5% |
| Single Family Value | $388,008 | $389,741 | $392,520 | ▲ 1.2% |
Home Values
56554 Home Value Trend
Historical home values for ZIP code 56554. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 56554
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 2 Bedrooms | $370,592 |
| 3 Bedrooms | $433,092 |
| 4 Bedrooms | $543,957 |
Property Types
Home Values by Property Type in 56554
How different property types compare in this ZIP code.
All Homes
$397,900
Single Family
$392,520
Bottom Tier
$219,670
Top Tier
$671,332
Data Sources and Methodology
Home value data for ZIP code 56554 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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