Minneapolis appreciation rates and housing market information

Minneapolis housing market information

With 382,452 people, 168,624 houses or apartments, and a median cost of homes of $204,778, Minneapolis real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Minneapolis, accounting for 45.32% of the city's housing units. Other types of housing that are prevalent in Minneapolis include large apartment complexes or high rise apartments (35.32%), duplexes, homes converted to apartments, or other small apartment buildings (15.91%), and a few row houses and other attached homes (3.26%).

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

The housing in Minneapolis was primarily built before 1939 (50.95%), making the housing stock in Minneapolis some of the older overall in America, although there is a range of ages of homes in Minneapolis. The next most important Minneapolis housing age is 1940-1969 (30.81%), followed by 1970-1994 (16.93%). There's also some housing in Minneapolis built between 1995 and later (1.31%).

Minneapolis home appreciation rates

Real estate appreciation rates in Minneapolis have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.26% during the period.

Over the last year, Minneapolis appreciation rates have trailed the rest of the nation. In the last twelve months, Minneapolis's appreciation rate has been -5.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Minneapolis were at 0.62%, which equates to an annual appreciation rate of 2.48%.

Relative to Minnesota, our data show that Minneapolis's latest annual appreciation rate is higher than 13% 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 Minneapolis differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Minneapolis - 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 Minneapolis real estate investment or home purchase decisions.