The story of this market
The typical home in ZIP 55949 sells for about $341,000, or $171 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 87 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $575 a month.
ZIP 55949 — Lanesboro
The housing market in 55949 is stable, characterized by low inventory and steady demand for lifestyle-oriented properties. Prices have seen modest growth, but the market remains sensitive to interest rates and the limited local employment base, which keeps transaction volume low.
This ZIP is best suited for retirees, outdoor enthusiasts, and remote workers seeking a quiet, scenic lifestyle, as the limited job market and distance from major metros make it less ideal for traditional corporate commuters.
Median prices moved up 2.1% year over year.
Homes spend a median of 87 days on market with 6.2 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.8% · poverty 7.8% — 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 7.0%/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 6.4%/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 55949, Fillmore 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 Lanesboro are consistently reported as significantly lower than both the Minnesota state average and national benchmarks, reflecting a quiet, rural community profile.
The area is served by Lanesboro Public Schools, which maintains a strong reputation for small class sizes and high graduation rates within the local district.
The region faces moderate flood risks near the Root River valley, while wildfire risk is minimal; property insurance remains stable but requires standard coverage for rural environmental factors.
Economic momentum is driven primarily by tourism, outdoor recreation, and local agriculture, with limited large-scale industrial development or corporate infrastructure expansion.
Property taxes are assessed by Fillmore County based on market value; the jurisdiction includes standard school district levies and local municipal taxes with no additional MUD or PID assessments.
Commuting is primarily car-dependent, with residents typically driving to larger regional employment hubs like Rochester, MN, which is approximately 45 minutes away.
The area is a premier destination for outdoor recreation, featuring the Root River State Trail, extensive trout fishing, and the historic downtown Lanesboro arts and dining district.
The rental market is characterized by low inventory and high demand for seasonal or short-term housing due to the area's tourism-heavy economy, leading to stable but limited long-term rental availability.
The local economy is heavily reliant on tourism, hospitality, and small-scale agriculture, with many residents commuting to Rochester for healthcare and corporate employment.
Public transit is non-existent; the area relies entirely on private vehicle travel via state highways.
Development is strictly managed to preserve the historic character of the town, with limited new residential construction approved.
Fillmore County Assessor manages property valuations with a focus on annual market adjustments based on sales ratios.
Parcels are subject to Lanesboro Public School District levies and Fillmore County general taxes.
Property insurance premiums are moderate, reflecting low crime and wildfire risk, though flood insurance is required for properties in the river valley.
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.
A 42-mile paved trail popular for biking and hiking.
A professional regional theatre that serves as a cultural anchor.
Central community park providing river access and picnic facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.