Duluth appreciation rates and housing market information

Duluth housing market information

With 86,810 people, 37,000 houses or apartments, and a median cost of homes of $162,863, Duluth real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Duluth, accounting for 62.25% of the city's housing units. Other types of housing that are prevalent in Duluth include large apartment complexes or high rise apartments (19.20%), duplexes, homes converted to apartments, or other small apartment buildings (13.65%), mobile homes or trailers (2.52%), and a few row houses and other attached homes (2.35%).

People in Duluth primarily live in small (one, two, or no bedroom) single-family detached homes. Duluth has a mixture of owner-occupied and renter-occupied housing.

The housing in Duluth was primarily built before 1939 (48.35%), making the housing stock in Duluth some of the older overall in America, although there is a range of ages of homes in Duluth. The next most important Duluth housing age is 1940-1969 (31.64%), followed by 1970-1994 (17.18%). There's also some housing in Duluth built between 1995 and later (2.83%).

Duluth home appreciation rates

Appreciation rates for homes in Duluth have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.54%, which ranks in the top 30% nationwide. This equates to an annual average Duluth house appreciation rate of 8.85%.

NeighborhoodScout's data show that during the latest twelve months, Duluth home appreciation rates, at -0.13%, have been at or slightly above the national average. In the latest quarter, Duluth's appreciation rate has been 0.06%, which annualizes to a rate of 0.24%.

Relative to Minnesota, our data show that Duluth's latest annual appreciation rate is higher than 48% of the other cities and towns in Minnesota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Duluth differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Duluth - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Duluth real estate investment or home purchase decisions.