Real Estate Investing in Crookston, Minnesota (56716)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 56716 (Crookston, MN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.4% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Crookston, MN (56716)?
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Market Analysis: 56716 Crookston
ZIP 56716 in Crookston, MN carries a resilient set of headwinds. Home values near $191K and rents of $927/mo sit inside a market where underwriting has to be tight.
The investment case in 56716 is durable only for operators who understand what they are buying. A $191K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 56716's metrics run below Polk County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 56716 ZIP's population of 8,991 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that records the need for careful underwriting.
Experienced landlords with local relationships tend to find 56716 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Crookston:
Property Strategy for 56716
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $123,593 | $1,030 | 6.0% | +4.2% | $61,796 |
| 3BR | $178,131 | $1,430 | 5.8% | +4.3% | $59,377 |
| 4BR | $219,782 | $1,730 | 5.7% | +5.0% | $54,945 |
| 5BR | $254,458 | — | — | +5.2% | $50,892 |
Market Trends
Home Value History (with trend line)
📊 How Does 56716 Compare?
| Metric | 56716 | Crookston | Grand Forks, ND-MN | Minnesota |
|---|---|---|---|---|
| Home Value | $190,772 | $190,772 | N/A | $340,597 |
| 5-Year CAGR | 3.6% | 3.6% | N/A | 4.9% |
| Avg Rent | $927 | $927 | N/A | - |
| Cap Rate | 3.8% | 3.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 56716 (Crookston, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $190,772 |
| Monthly Rent | $927 |
| Price-to-Rent | 17.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 7.4% |
📈 Home Appreciation
| 1-Year | +6.5% ▲ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +3.6% ▲ |
| 10-Year CAGR | +4.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 56716
Population: 8,991
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 56716
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How tight is the rental market in Crookston, MN?
Crookston, MN carries elevated vacancy risk. Expect steady absorption at market rents of $927/mo.
What price range are homes in Crookston, MN?
Median home price in Crookston, MN is near $191K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
Should investors consider Crookston, MN?
With a 3.0/5 investability score, Crookston, MN ranks as a solid market for rental property investors. Median prices of $191K and rents of $927/mo drive the underlying numbers.
Is rental property easy to operate in Crookston, MN?
The landlord environment in Crookston, MN is balanced. Statewide rules shape most day-to-day operations for rental owners.
What is the typical rental rate in Crookston, MN?
Investors in Crookston, MN typically see rents near $927/mo per month against $191K home values - a solid setup for rental cash flow.
You know 56716 now. You don’t know where it ranks.
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How 56716 ranks in Grand Forks, ND-MN
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