Home values, rents and more in ZIP code 56586 (Underwood, MN)
September 2026 figures from Zillow and the U.S. Census Bureau · updated 2026-11-07
Open 56586 in ProMap- Under $270k
- $270k–$310k
- $310k–$350k
- $350k–$380k
- $380k+
- No data
How 56586 compares
The typical home in ZIP code 56586 (Underwood, MN) is worth about $346,000, according to the Zillow Home Value Index for September 2026. Home values in 56586 are 3% above the typical value in the Fergus Falls metro area ($335,000) and 5% below the U.S. typical value ($366,000).
Over the past year, home values in 56586 rose 5.5%, compared with +5.8% in the Fergus Falls metro area and +1.2% nationally.
The median household income is $79,583, against $72,255 in the Fergus Falls metro area and $80,734 in the U.S. (Census Bureau, American Community Survey 2020–24).
About 1,873 people live in 56586 (American Community Survey 2020–24).
56586 has the 9th-lowest typical home value of the 18 ZIP codes in the Fergus Falls metro area and the 241st-highest of 716 in Minnesota with Zillow figures.
Part of: Underwood, MN · Otter Tail County, MN · Fergus Falls metro area · Minnesota
More for 56586 in ProMap Plus
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- 5- and 10-year price changes
- Days on market and months of supply
- Price cuts and sale-to-list ratio
- Price-to-income and monthly cost to buy
- Zillow 12-month price forecast
- Crime rates
- School test scores
- Homeowners insurance premiums
- Commute time to downtown
- Flood, wildfire and natural hazard risk
- Property-tax rate
- 2024 presidential vote
- Age, education and household make-up
- Amenities and transit nearby
Nearby ZIP codes
Sources
Home values: Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted, September 2026. Rents: Zillow Observed Rent Index (ZORI), seasonally adjusted. Population: Census population estimates (July 2025) for states, metros and counties; ACS 2020–24 for cities and ZIP codes. Income: U.S. Census Bureau, ACS 2020–24 5-year estimates. Boundaries: U.S. Census Bureau cartographic boundary files. Compiled by Home Economics.
"Typical" is Zillow's middle-tier value (homes between the 35th and 65th percentiles), not a median sale price. Changes are over the 12 months to September 2026.