56297 ZIP Code Profile, Map, Data & Demographics

ZIP Code Type: STANDARD
County: Yellow Medicine County
Centroid: Latitude 44.652, Longitude -95.541
Time Zone: Central Time Zone (UTC -6 hours)
Observes DST: Yes

ZIP Code 56297 has segments in 3 Counties (Lyon, Redwood, Yellow Medicine).

Businesses Addresses: 21
PO Box Addresses: 157
Residential Addresses: 184

Multi-Family Addresses: 0
Single Family Addresses: 184

Foreclosures in MN 56297

The ZIP Code maps and database are updated 4 times per year.
Database updated: January 1, 2023, Maps updated: August 12, 2022.

Wood Lake, MN 56297 Data & Demographics (As of July 1, 2022)

POPULATION
Total Population	800 (100%)
Population in Households	800 (100.0%)
Population in Families	663 (82.9%)
Population in Group Quarters¹	0
Population Density	11
Diversity Index²	24


INCOME
Median Household Income	$60,413
Average Household Income	$79,856
% of Income for Mortgage⁴	15%
Per Capita Income	$32,264
Wealth Index⁵	63

HOUSING
Total HU (Housing Units)	338 (100%)
Owner Occupied HU	252 (74.6%)
Renter Occupied HU	53 (15.7%)
Vacant Housing Units	33 ( 9.8%)
Median Home Value	$167,857
Average Home Value	$226,488
Housing Affordability Index³	176

HOUSEHOLDS
Total Households	305
Average Household Size	2.62
Family Households	211
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

Wood Lake, MN 56297 - Peer Comparisons by Rank and Percentile

The table below compares 56297 to the other 878 ZIP Codes in Minnesota by rank and percentile using July 1, 2022 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2022	2022-2027
Population	-0.66%	-0.63%
Households	-1.14%	-0.60%
Families		-0.58%
Median Household Income		3.27%
Per Capita Income		3.13%
Owner Occupied HU		-0.40%

Variable Description	Rank	Percentile
Total Population	# 614	30th
Population Density	# 638	28th
Median Household Income	# 705	20th
Housing Affordability Index	# 652	74th
Per Capita Income	# 733	17th
Diversity Index	# 332	62nd

56297 ZIP Code Profile, Map, Data & Demographics

ZIP Code 56297: Basic Data & USPS Preferred City Name

Wood Lake, MN 56297 Data & Demographics (As of July 1, 2022)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Wood Lake, MN 56297 - Peer Comparisons by Rank and Percentile

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Yellow Medicine County