The story of this market
The typical home in ZIP 55368 sells for about $376,000, or $251 per square foot.
Prices are up +63.2% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $1,213 a month.
ZIP 55368 — Norwood Young America
The 55368 housing market is currently experiencing a seller's market with limited inventory and high demand. Prices have seen significant year-over-year growth, though the pace of sales remains steady. Buyers are primarily focused on single-family homes, driven by the area's appeal as a commuter-friendly alternative to the inner metro.
This ZIP is ideal for families and commuters seeking a small-town lifestyle with access to the Twin Cities, offering more space and lower entry prices than the inner-ring suburbs.
Median prices moved up 63.2% year over year.
Homes spend a median of 45 days on market with 3.2 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.0% · poverty 9.5% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 12.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 55368, Carver County MN
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in Norwood Young America are generally low, consistent with small-town Minnesota trends and significantly lower than regional urban centers.
The area is served by Central Public Schools, which maintains a stable reputation for community-focused education in a rural-suburban setting.
The region faces standard Midwestern climate risks, including severe thunderstorms and winter weather, with flood risks primarily localized to specific low-lying areas near the Carver Creek watershed.
Economic momentum is driven by local manufacturing and agricultural support services, with steady residential development occurring as the area serves as an outer-ring commuter hub.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Minnesota) — Condominium Unit Taxation: Each unit constitutes a separate parcel for tax purposes. If a declaration is recorded at least 30 days before a tax installment is due, the taxing authority must split the taxes among the units. State (Minnesota) — Minnesota General Property Tax Classification System: Property tax is calculated by applying a class rate to the parcel's estimated market value to determine tax capacity, then multiplying by the local tax rate. For residential homesteads (Class 1a), the rate is 1.00% for the first $500,000 of market value and 1.
Commuters typically drive to the Twin Cities metro area via Highway 212, with average commute times exceeding 40 minutes.
The area features Willkommen Memorial Park and several local trails, with proximity to regional lakes and golf courses in the surrounding Carver County landscape.
The rental market is characterized by low vacancy rates and limited inventory, with demand driven by local workers and those seeking more affordable alternatives to the inner metro.
The economy is anchored by local manufacturing, small business, and agricultural services, with many residents commuting to the broader Minneapolis-St. Paul employment core.
Transportation is primarily automobile-dependent, with Highway 212 serving as the critical artery for regional connectivity.
Development is focused on managed residential growth and infrastructure upgrades to support the increasing commuter population.
Carver County Assessor manages property valuations based on annual market analysis and state-mandated assessment cycles.
Parcels are subject to Central Public School District levies and standard county-wide special service districts.
Property insurance premiums are influenced by regional weather patterns, with standard coverage available for wind and hail risks.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Scream Town4.69.2 mi
- The Abandoned Hayride4.59.2 mi
- SandVenture Aquatic Park4.417.6 mi
- Jump Start Adventure Park Chanhassen4.420 mi
- Minnesota Renaissance Festival4.514.7 mi
- Chanhassen Dinner Theatres4.719.2 mi
- Paisley Park4.818 mi
- Chaska Community Center4.415.2 mi
- Lola's Lakehouse4.48.7 mi
- Schram Vineyards Winery, Brewery & Restaurant4.69.6 mi
- Sovereign Estate Winery4.410.8 mi
- Kerfoot Canopy Tour4.99.9 mi
- Emagine Waconia4.68.3 mi
- Lake Waconia Regional Park4.59.5 mi
- University of Minnesota Landscape Arboretum4.815.5 mi
- Paisley Park4.818 mi
- Big Stone Mini Golf4.815 mi
- Parley Lake Winery4.511.4 mi
- Harrison Sculpture Garden4.615.2 mi
- Lake Waconia Regional Park4.59.5 mi
- Baylor Regional Park4.44.3 mi
- Minnesota Valley State Recreation Area4.411.5 mi
- Oak Leaf Park4.612.9 mi
- City Square Park4.68.5 mi
- Howard's Point Marina4.616.7 mi
- Metro Lakes Marina & Rentals LLC.4.517.5 mi
- Wayzata Bay Charter Cruises on Lake Minnetonka4.719.2 mi
- In Towne Marina4.78.5 mi
- Bay to Bay Boat Club4.919.1 mi
- Dahlgreen Golf Club4.19.7 mi
- Glencoe Country Club4.112.2 mi
- Fleet Farm4.212.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Central community park with sports fields and picnic areas.
Natural waterway providing local scenic and recreational value.
Key-figure check: median price diverges 47.6% from the nearest retained anchor (prior refresh cycle) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Validation: the flagged $555,000 (+47.6% vs the prior refresh cycle) failed independent re-validation and was reverted to the prior cycle value; the case is under review in the Command Center.