ZIP Code 56586 — Underwood city, MN Demographics & Data

ZIP code 56586 covers Underwood, MN in Otter Tail County with a population of about 1,798.

At a glance, the area shows median age of 55.1 versus a U.S. median of about 38.9.

It sits in telephone area code 218; U.S. House district MN-7; the FARGO - VALLEY CITY media market.

Underwood, MN fits a retirement-oriented profile (older median age or known retirement-community context). Residents and relocators commonly research healthcare access, everyday amenities (dining, personal services), and housing costs rather than tech or campus life.

Median household income in ZIP 56586 is about $82,333 — about 10% above the U.S. median ($75,149).

On socioeconomic markers, US5 shows a poverty rate of 6.8%; unemployment rate near 2.8%; 27.1% of adults with a bachelor’s degree or higher (about 6.6 points below the national share (33.7%)).

Labor and commute patterns include leading industry context around Manufacturing, Healthcare, and Retail trade; about 7.8% of workers reporting work-from-home (about 7.4 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 $283,500 — about 19% below the U.S. median home value ($348,079).

Housing tenure and rents show median gross rent around $763 (about 34% below the U.S. median rent ($1,163)), and owner-occupancy near 93.8% (about 28.4 points above the national owner-occupancy rate (65.4%)).

To comfortably buy a median-priced home in ZIP 56586 in Underwood, MN, a household would need roughly $78,000 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 $1,821. That is roughly in line with the local median household income ($82,333). 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 Underwood city, MN as Relatively Low (composite score 79.4), which is elevated versus much of the country. The strongest component scores on US5 are flood (83.4) and wildfire (79.3). 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 Underwood 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 128 for ZIP 56586 (Underwood 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.