56586
Underwood, Minnesota.
Underwood, Otter Tail County, MN · Fergus Falls, MN metro · population 1,873
to buy the typical home at today's mortgage rate — +$1,017 (+127%) since Jan 2020.
- 1 year
- Up $18,066 +6%
- $328,273$346,338 since Sep 2025
- 5 years
- Up $80,796 +30%
- $265,543$346,338 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- 56586$1,818
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 13 years.
Typical home values in zip 56586 rose 5.5% over the past year — faster than the nation's +1.2%.
Zillow also publishes an index for the city itself: Underwood, MN — measured over the city limits, which is a different area from this zip.
Typical home value — 56586
Mid-tier homes, smoothed and seasonally adjusted.
- 56586$346,338
- Fergus Falls$334,667
- United States$366,157
Within 20 miles
| Miles sorted ascending, activate to sort descending | Zip activate to sort by Zip | City activate to sort by City | Population activate to sort by Population | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|---|
| 6.6 | 56515 | Battle Lake | 2,723 | — | $435,164 |
| 11.5 | 56324 | Dalton | 1,028 | — | $330,542 |
| 12.1 | 56576 | Richville | 820 | — | $408,771 |
| 12.3 | 56537 | Fergus Falls | 19,856 | $909 | $247,459 |
| 12.8 | 56534 | Erhard | 1,201 | — | $326,840 |
| 13.6 | 56524 | Clitherall | 694 | — | $417,761 |
| 14.4 | 56528 | Dent | 1,623 | — | $398,102 |
| 15.9 | 56533 | Elizabeth | 286 | — | $221,099 |
| 16.4 | 56571 | Ottertail | 1,745 | — | $371,399 |
| 16.9 | 56309 | Ashby | 1,296 | — | $321,154 |
| 17.7 | 56588 | Vining | 483 | — | $356,409 |
| 18.6 | 56551 | Henning | 2,387 | — | $274,537 |
Coordinates and population from SimpleMaps US Zips (Basic). Rent and home values from Zillow Research.