Marshall, Minnesota.
Typical home $248,833 (+6.7% in a year). Marshall, MN metro.
to buy the typical home at today's mortgage rate — +$684 (+110%) since Jan 2020.
- 1 year
- Up $15,566 +7%
- $233,266$248,833 since Sep 2025
- 5 years
- Up $47,110 +23%
- $201,723$248,833 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.
- Marshall$1,306
- Minnesota$1,831
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 17 years.
Typical home values in Marshall, MN rose 6.7% over the past year — faster than the nation's +1.2%.
Living in Marshall, Lyon County, Minnesota
Marshall is a city of 13,628 people in Lyon County. Half its households earn more than $68,566 a year and half less, against $75,303 across Lyon County; 17% of its people live below the poverty line. 63% of its homes are lived in by their owners and 37% are rented. Unemployment in Lyon County was 4.7% in August 2026, and the county had 2.3% fewer jobs in 2025 than the year before. The most residents work in schools and health care, then manufacturing.
Written by AI Claude Sonnet 5.5 wrote this on 24 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Marshall is a small city in Lyon County in southwest Minnesota, with a population somewhat younger than many towns of its size. Incomes run below the county's, and more households here fall below the poverty line than most would expect, while most homes are lived in by their owners. Winters are cold and snowy, with January the coldest month, and summers turn properly warm by July.
Work. Schools, hospitals and social care employ more of the town's residents than any other field, followed by manufacturing, shops, and banks, insurance and property. The largest workplaces in Marshall include Southwest Minnesota State University, Avera Marshall Regional Medical CTR and the Marshall Public School District. Most people have a very short trip to work, and the county has lost a few jobs over the past year.
Things to do. Lake Marshall is a lake a short drive away, and Camden State Park, a protected area, is also a short drive from town. A longer drive brings you to Lake Shetek State Park, another protected area, and to the Cottonwood River, one of several rivers and creeks in the region.
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- 5,627households
- 36%of adults have a degree
- 17%below the poverty line
- 11 mintypical commute
- 12%work from home
What residents work in
Employed residents by industry, from the Census survey. Lyon County had 13,452 jobs in 2025, 2.3% fewer than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 24° and lows near 4°; warmest in July, with highs near 85° and lows near 61°. About 44 inches of snow and 29 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Marshall weather station, 2 miles away (NOAA).
Largest workplaces in Marshall
- Southwest Minnesota State UniversityUniversity or college432
- Avera Marshall Regional Medical CTRCritical access hospital417FTE
- Marshall Public School DistrictSchool district392FTE
- Region 6 and 8-SW/WC Service Coop SchoolsSchool district384FTE
- Schwan's Shared ServicesOb297
- WalmartWarehouse clubs and supercenters294
- Hy-VeeSupermarkets and other grocery except convenience stores278
- Archer Daniels Midland Company265
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 48 workplaces with 20 or more staff, 5,652 people in all. Colleges come from IPEDS (NCES, 2023–24), hospitals from their Medicare cost reports (CMS, 2023) and school districts from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Winter weatherVery high
- Cold wavesVery high
- Inland floodingRelatively high
- Strong windRelatively high
- TornadoesRelatively high
- Ice stormsRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Marshall’s census tracts, against the rest of the country; all of them together, relatively high. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Lyon County and the Marshall, MN metro.
Marshall home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Marshall$248,833
- Minnesota$348,778
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 5 Marshall listings — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Marshall20.83%
- United States26.90%
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Marshall35
New listings per month
Sellers arriving at the market.
- Marshall15
Zip codes with a Marshall address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Marshall — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Marshall
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 56258 | Marshall | 15,888 | — | $246,999 |
| 56115 | Balaton | 1,123 | — | $221,355 |