The story of this market
The typical home in ZIP 55397 sells for about $325,000, or $168 per square foot.
Prices are up +1.8% from a year ago, so sellers still have some momentum. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $1,058 a month.
ZIP 55397 — Norwood Young America
The housing market in 55397 is stable, characterized by low inventory and steady demand from local buyers. Prices have seen modest year-over-year growth, reflecting the area's appeal as an affordable alternative to the inner-ring suburbs of the Twin Cities.
This ZIP is ideal for families and individuals seeking a quiet, small-town environment with more affordable housing options compared to the inner-ring suburbs of the Twin Cities.
Median prices moved up 1.8% year over year.
Homes spend a median of 42 days on market with 4.5 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.3% · poverty 8.5% — 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 5.8%/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 6.1%/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 55397, 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 remain low, consistent with the broader rural-suburban character of Carver County and significantly below regional metropolitan averages.
The area is served by Central Public Schools (ISD 108), which maintains a stable reputation for small-town educational engagement and community-focused programming.
The region faces standard Midwestern climate risks, primarily related to severe thunderstorms and winter weather, with flood risk concentrated near local creek corridors.
Economic momentum is driven by local manufacturing and agricultural support industries, with steady residential expansion as the outer ring of the Twin Cities continues to grow.
Property taxes are levied by Carver County, the City of Norwood Young America, and ISD 108, with rates determined by local millage and state-mandated assessment formulas.
Commuters typically face a 45-60 minute drive to the Minneapolis-St. Paul employment core via Highway 212, with limited public transit options available.
The area features several local parks, including Willkommen Memorial Park, and provides easy access to regional trails and lakes within a short drive.
The rental market is characterized by low vacancy rates and limited inventory, with demand primarily driven by local workers and those seeking a small-town lifestyle.
The local economy is anchored by manufacturing, light industrial businesses, and agricultural services, with many residents commuting to the broader Twin Cities region.
Transportation is heavily reliant on private vehicles, with Highway 212 serving as the primary artery for regional connectivity.
Development is focused on modest residential subdivisions and small-scale commercial expansion to support the growing population.
The Carver County Assessor's office manages property valuations, utilizing a mass appraisal system to ensure equitable tax distribution.
Parcels are subject to standard municipal, county, and school district taxes, with no major MUD/PID districts reported.
Property insurance premiums are stable, reflecting the area's low exposure to major natural disasters compared to other regions.
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Data retrieved from data.census.gov 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 Town4.611.7 mi
- The Abandoned Hayride4.511.6 mi
- SandVenture Aquatic Park4.419.7 mi
- Delano Central Park4.616.8 mi
- Minnesota Renaissance Festival4.517.8 mi
- Chanhassen Dinner Theatres4.719.9 mi
- Paisley Park4.818.6 mi
- Chaska Community Center4.416.8 mi
- Lola's Lakehouse4.47.8 mi
- Schram Vineyards Winery, Brewery & Restaurant4.69.5 mi
- Sovereign Estate Winery4.48.8 mi
- Lowry Nature Center in Carver Park Reserve4.912.9 mi
- Carver Park Reserve4.812.5 mi
- Emagine Waconia4.67.4 mi
- University of Minnesota Landscape Arboretum4.815.9 mi
- Paisley Park4.818.6 mi
- Big Stone Mini Golf4.813.2 mi
- Parley Lake Winery4.510.5 mi
- Minnetonka Center For the Arts4.719.5 mi
- Lowry Nature Center in Carver Park Reserve4.912.9 mi
- Carver Park Reserve4.812.5 mi
- Lake Waconia Regional Park4.58.7 mi
- Baylor Regional Park4.41.3 mi
- Lake Auburn Campground4.512.7 mi
- Howard's Point Marina4.616 mi
- Metro Lakes Marina & Rentals LLC.4.516.1 mi
- Wayzata Bay Charter Cruises on Lake Minnetonka4.718.9 mi
- In Towne Marina4.77.6 mi
- Bay to Bay Boat Club4.918.6 mi
- Timber Creek Golf Course4.411.7 mi
- Shadowbrooke Golf Course4.57.9 mi
- Dahlgreen Golf Club4.112.4 mi
- B's On the River4.411.3 mi
- Glencoe Country Club4.111.2 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 featuring sports fields and picnic areas.
Local hub for youth and community athletic events.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.