| ZIP Code | 56586 |
|---|---|
| City | Underwood |
| State | Minnesota (MN) |
| County | Otter Tail County |
| Area Code | 218 |
| Elevation | 1,331 ft |
| Latitude | 46.318269 |
|---|---|
| Longitude | -95.8309 |
| Timezone | Chicago (DST) |
| FIPS | 27111 |
| ZIP Type | Standard |
| Status | Active |
Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 55.1 yrs ↑ 10% since 2019 |
|---|---|
| Avg Household Size | 2.26 |
| Below Poverty | 6.8% ▼ 32% below avg |
| College Grads | 44.9% ▲ 16% above avg |
| Unemployment | 2.8% ▼ 43% below avg |
| No HS Diploma | 2 (0.2%) |
| HS Graduate | 382 (29.4%) |
| Some College | 142 (10.9%) |
| Associates | 190 (14.6%) |
| Bachelors | 218 (16.8%) |
| Graduate Degree | 366 (28.2%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $82,333 ▲ 8% above avg ↑ 22% since 2019 |
|---|---|
| Median Home Value | $283,500 ≈ Avg ↑ 21% since 2019 |
| Home/Income Ratio | 3.4x (nat avg ~3.5x) |
| Median Rent | $1,021/mo ↑ 37% since 2019 |
| Total Units | 1,310 |
| Vacant Units | 514 |
| Avg HH Size | 2.26 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Summary
| Total Units | 1,310 |
|---|---|
| Vacant | 514 |
| Owner Occupied | 93.8% |
| Renter Occupied | 6.2% |
| Avg HH Size | 2.26 |
ZIP code 56586 is located in Underwood, Minnesota, within Otter Tail County. With a population of 1,798, this is a sparsely populated ZIP code with an older community — the median age is 55.1 years. Economically, 56586 is a middle-income ZIP code: the median household income of $82,333 is near the national average.
Real estate in ZIP code 56586 represents a mid-range housing market. The median home value of $283,500 is near the national average. Renters can expect to pay around $1,021 per month in median rent. Homeownership is strong here — 93.8% of occupied units are owner-occupied, suggesting an established, stable residential community. Median home values have increased by 21% since 2019.
The population of 56586 is primarily White (95.94%). Residents are well-educated — 44.9% hold a bachelor's degree or higher, which is above the national average. Poverty affects a relatively small share of residents at 6.8%. Household income has grown by 22% since 2019.
The unemployment rate in 56586 stands at 2.8%, which is below the national average. As in most parts of the country, driving alone is the dominant commute mode at 77%.
Overall, ZIP code 56586 in Underwood, MN is characterized as middle-income, well-educated, an older community, and predominantly owner-occupied. With 1,798 residents, a median household income of $82,333, and a median home value of $283,500, it offers a clear picture of life in this part of Minnesota.