The story of this market
The typical home in ZIP 55923 sells for about $297,500, or $183 per square foot.
Prices are up +7.9% from a year ago, so sellers still have some momentum. Homes take about 37 days to sell. HUD's fair market rent for a two-bedroom is $776 a month.
ZIP 55923 — Chatfield
The 55923 housing market is currently balanced with supply and demand in equilibrium. While list prices have risen, actual sale prices remain stable, indicating a divergence between seller expectations and buyer capacity. The area remains a quiet, family-oriented community with steady long-term value appreciation.
This ZIP is ideal for families and commuters seeking a small-town lifestyle within reasonable driving distance of the Rochester employment and healthcare hub.
Median prices moved up 7.9% year over year.
Homes spend a median of 37 days on market with 2.1 months of supply — a fast-moving market.
41% of listings have cut prices · homes sell at 100% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.1% · poverty 5.4% — 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 6.8%/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 6.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 55923, Minnesota
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is characterized as a tranquil neighborhood with a calm atmosphere and low levels of noise and traffic disruption. Specific crime statistics are not determinable through current public market reports.
The area is served by the Chatfield Public School District (ISD No. 227), which maintains an overall positive reputation. Chatfield Elementary is highly rated with a 9/10 ranking.
The FEMA National Risk Index for the county is relatively low, with coldwave identified as the primary natural hazard. Parts of the area are located in FEMA Flood Zone A.
Development momentum is driven by the community’s role as a residential feeder for the Rochester medical and employment hub. Local infrastructure is focused on maintenance and utility reliability.
Property taxes are levied by Olmsted and Fillmore County authorities and local school districts. The median effective rate is 1.47%, which is higher than the Minnesota state median.
The area is primarily auto-dependent with 89.7% of residents driving alone. It serves as a bedroom community for professionals commuting to the Rochester employment core.
The area features local parks and youth sports associations. While it has limited immediate urban shopping, it benefits from proximity to Rochester’s larger amenity base.
Rental market depth is limited and primarily consists of single-family residential rentals. Market inventory is tight, keeping rental growth steady.
The local economy is largely agricultural and service-oriented. Most of the workforce commutes to Rochester for major employment in healthcare and research.
The area relies on highway corridors for access to the Rochester employment core. Public transit options are limited.
Planning remains focused on residential growth and utility infrastructure maintenance. No major industrial or mega-projects are currently listed.
The area is governed by the Chatfield Public School District. Utility-specific service areas exist for electrical cooperatives.
The property-insurance posture is typical for Southern Minnesota with standard residential risk profiles regarding cold, wind, and storm exposure.
Data retrieved from data.census.gov ZCTA 55923 profile.
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.
- Air Insanity Indoor Trampoline Park4.315.5 mi
- Mayo Civic Center4.516.8 mi
- Forager Brewery4.517.7 mi
- Four Daughters Vineyard & Winery, Loon Juice Hard Cider, and The Traditionalist Bourbon Distillery4.617.3 mi
- Graham Arena Complex4.315.8 mi
- Café Steam4.616.8 mi
- Chester Woods Park4.710.8 mi
- Root River Park4.410 mi
- Gamehaven Reservoir4.612.7 mi
- Shari's Sports Saloon & Lanes4.41.5 mi
- Rochester Art Center4.416.6 mi
- Historic Mayowood4.818 mi
- SPARK, Children's Museum4.516.7 mi
- History Center of Olmsted County4.718.1 mi
- Rochester Civic Theatre4.716.7 mi
- Chester Woods Park4.710.8 mi
- Root River Park4.410 mi
- Gamehaven Reservoir4.612.7 mi
- St. Charles Golf Course4.310.1 mi
- Rochester International Airport4.214.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Local community park providing green space and recreation.
Serves local youth sports associations and school athletics.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.