| ZIP Code | 56240 |
|---|---|
| City | Graceville |
| State | Minnesota (MN) |
| County | Big Stone County |
| Area Code | 320 |
| Elevation | 1,144 ft |
| Latitude | 45.56255 |
|---|---|
| Longitude | -96.483631 |
| Timezone | Chicago (DST) |
| FIPS | 27011 |
| ZIP Type | Standard |
| Status | Active |
Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 46.1 yrs ↓ 13% since 2019 |
|---|---|
| Avg Household Size | 2.23 |
| Below Poverty | 16.1% ▲ 61% above avg |
| College Grads | 42.2% ▲ 9% above avg |
| Unemployment | 3.3% ▼ 33% below avg |
| No HS Diploma | 2 (0.4%) |
| HS Graduate | 237 (44.1%) |
| Some College | 28 (5.2%) |
| Associates | 44 (8.2%) |
| Bachelors | 156 (29%) |
| Graduate Degree | 71 (13.2%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $66,250 ▼ 13% below avg ↑ 15% since 2019 |
|---|---|
| Median Home Value | $118,400 ▼ 58% below avg ↑ 19% since 2019 |
| Home/Income Ratio | 1.8x (nat avg ~3.5x) |
| Median Rent | $705/mo ↑ 19% since 2019 |
| Total Units | 395 |
| Vacant Units | 55 |
| Avg HH Size | 2.23 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Summary
| Total Units | 395 |
|---|---|
| Vacant | 55 |
| Owner Occupied | 72.7% |
| Renter Occupied | 27.4% |
| Avg HH Size | 2.23 |
ZIP code 56240 is located in Graceville, Minnesota, within Big Stone County. With a population of 807, this is a sparsely populated ZIP code with a mature community — the median age is 46.1 years. Economically, 56240 is a solidly middle-class ZIP code: the median household income of $66,250 is near the national average.
Real estate in ZIP code 56240 represents one of the more affordable housing markets in the country. The median home value of $118,400 is well below the national average. Renters can expect to pay around $705 per month in median rent. Homeownership is strong here — 72.7% of occupied units are owner-occupied, suggesting an established, stable residential community. Median home values have increased by 19% since 2019.
The population of 56240 is primarily White (94.55%). Residents are well-educated — 42.2% hold a bachelor's degree or higher, which is near the national average. Poverty affects some residents at 16.1%. Household income has grown by 15% since 2019.
The unemployment rate in 56240 stands at 3.3%, which is below the national average. As in most parts of the country, driving alone is the dominant commute mode at 78%.
Overall, ZIP code 56240 in Graceville, MN is characterized as solidly middle-class, well-educated, a mature community, and predominantly owner-occupied. With 807 residents, a median household income of $66,250, and a median home value of $118,400, it offers a clear picture of life in this part of Minnesota.