56586 ZIP Code Profile, Map, Data & Demographics

Related Place Profiles:
Maine, MN | Underwood, MN
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ZIP Code 56586: Basic Data & USPS Preferred City Name

Preferred Name, USPS
Underwood, MN 56586

Not Acceptable, USPS
Maine, MN 56586

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  • ZIP Code Type: STANDARD
  • County: Otter Tail County
  • Centroid: Latitude 46.326, Longitude -95.839
  • Time Zone: Central Time Zone (UTC -6 hours)
  • Observes DST: Yes
  • Businesses Addresses: 44
  • PO Box Addresses: 36
  • Residential Addresses: 959
    • Multi-Family Addresses: 4
    • Single Family Addresses: 955

The ZIP Code maps and database are updated 4 times per year.
Database updated: October 1, 2021, Maps updated: May 5, 2021.

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Underwood, MN 56586 Data & Demographics (As of July 1, 2021)

POPULATION

Total Population 1,950 (100%)
Population in Households 1,949 (99.9%)
Population in Families 1,612 (82.7%)
Population in Group Quarters1 1 ( 0.1%)
Population Density 23
Diversity Index2 13
 
 

INCOME

Median Household Income $70,566
Average Household Income $81,531
% of Income for Mortgage4 17%
Per Capita Income $34,913
Wealth Index5 91
 

HOUSING

Total HU (Housing Units) 1,359 (100%)
Owner Occupied HU 735 (54.1%)
Renter Occupied HU 100 ( 7.4%)
Vacant Housing Units 524 (38.6%)
Median Home Value $278,958
Average Home Value $310,068
Housing Affordability Index3 161
 

HOUSEHOLDS

Total Households 835
Average Household Size 2.33
Family Households 594
Average Family Size 3
NOTES
  1. 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.
  2. 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.
  3. 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.
  4. 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).
  5. 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.

GROWTH RATE / YEAR

2010-2021 2021-2026
Population 0.32% 0.38%
Households 0.31% 0.38%
Families 0.17% 0.3%
Median Household Income   2.18%
Per Capita Income   2.26%
Owner Occupied HU   0.59%

Underwood, MN 56586 - Peer Comparisons by Rank and Percentile

The table below compares 56586 to the other 879 ZIP Codes in Minnesota by rank and percentile using July 1, 2021 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.

Variable Description Rank Percentile
Total Population # 431 51st
Population Density # 473 46th
Median Household Income # 310 65th
Housing Affordability Index # 273 31st
Per Capita Income # 313 65th
Diversity Index # 544 38th

Additional comparisons and rankings can be made with a VERY EASY TO USE Minnesota Census Data Comparison Tool.


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