This is the 3162nd most frequent Russian word.
местной
"Local"
In this sentence, 'местной' is used as an adjective describing the noun 'рынок' (market), matching in gender, number, and case.
Мы посетили местной рынок.
We visited the local market.
Here, 'местной' is an adjective modifying 'газеты' (newspaper), reflecting agreement in gender, number, and case.
Эта история местной газеты поражает своей драматичностью.
This story from the local newspaper is striking for its drama.
'Местной' serves as an adjective associated with 'команды' (team), with proper grammatical agreement.