ZIP Code 56531 — Elbow Lake city, MN Demographics & Data

ZIP code 56531 covers Elbow Lake, MN in Grant County with a population of about 1,948.

At a glance, the area shows median age of 41.8 versus a U.S. median of about 38.9.

It sits in telephone area codes 218, 320; U.S. House district MN-7; the MINNEAPOLIS - ST. PAUL media market.

Median household income in ZIP 56531 is about $73,162 — about 3% below the U.S. median ($75,149).

On socioeconomic markers, US5 shows a poverty rate of 12.5%; unemployment rate near 3.1%; 19.9% of adults with a bachelor’s degree or higher (about 13.8 points below the national share (33.7%)).

Labor and commute patterns include leading industry context around Healthcare, Retail trade, and Manufacturing; about 7.9% of workers reporting work-from-home (about 7.3 points below the U.S. share (15.2%)); a mean commute of about 180.0 minutes (U.S. average near 26.8).

Median home value is about $151,600 — about 56% below the U.S. median home value ($348,079).

Housing tenure and rents show median gross rent around $636 (about 45% below the U.S. median rent ($1,163)), and owner-occupancy near 75.5% (about 10.1 points above the national owner-occupancy rate (65.4%)).

To comfortably buy a median-priced home in ZIP 56531 in Elbow Lake, MN, a household would need roughly $42,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $974. That sits below the local median household income ($73,162), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

FEMA’s National Risk Index rates natural-hazard risk for Elbow Lake city, MN as Very Low (composite score 3.0), which is relatively lower than many U.S. communities. The strongest component scores on US5 are wildfire (14.3) and flood (8.7). These scores are county-linked NRI values published for planning context — all ZIP codes in the same county share the same composite score on US5. Useful when comparing insurance and disaster exposure across areas, not a substitute for a parcel-level flood or fire determination.

Climate normals for Elbow Lake city, MN show little to no average snow and around 26.9 inches of annual precipitation.

IRS migration statistics show a net inflow of about 138 for ZIP 56531 (Elbow Lake city, MN) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.