ZIP Code Market Report
56283 — Redwood Falls, MN
Data through February 2026 · Updated monthly
Avg Home Value
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Month-over-Month
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Single Family
$192,186
Condo / Co-op
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A 3-bedroom home in 56283 is valued at $177,354.
The market in 56283 has a $218,894 spread between bottom-tier homes at $110,259 and top-tier homes at $329,153. 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 Redwood County market area in MINNESOTA. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Redwood County report.
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Market Snapshot
56283 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 |
|---|---|---|---|---|
| Single Family Value | $189,614 | $191,005 | $192,186 | ▲ 1.4% |
Home Values
56283 Home Value Trend
Historical home values for ZIP code 56283. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 56283
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 3 Bedrooms | $177,354 |
| 4 Bedrooms | $229,929 |
Property Types
Home Values by Property Type in 56283
How different property types compare in this ZIP code.
Single Family
$192,186
Bottom Tier
$110,259
Top Tier
$329,153
Data Sources and Methodology
Home value data for ZIP code 56283 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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