Wayzata appreciation rates and housing market information

Wayzata housing market information

With 4,113 people, 2,047 houses or apartments, and a median cost of homes of $472,246, Wayzata house prices are not only among the most expensive in Minnesota, Wayzata real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Wayzata, accounting for 48.17% of the city's housing units. Other types of housing that are prevalent in Wayzata include large apartment complexes or high rise apartments (34.10%), row houses and other attached homes (13.09%), and a few duplexes, homes converted to apartments, or other small apartment buildings (4.64%).

The most prevalent building size and type in Wayzata are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 56.96% owning, and 37.27% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Wayzata's housing was primarily built during this period, from the '40s through the '60s. A full 41.77% of the city's housing hails from this era. Other housing ages represented in Wayzata include homes built between 1970-1994 (32.34%), and housing constructed from 1939 and earlier (15.68%). There's also some housing in Wayzata built between 1995 and later (10.21%).

Wayzata home appreciation rates

In the last 10 years, Wayzata has experienced some of the highest home appreciation rates of any community in the nation. Wayzata real estate appreciated 116.70% over the last ten years, which is an average annual home appreciation rate of 11.67%, putting Wayzata in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Wayzata definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Wayzata appreciation rates have trailed the rest of the nation. In the last twelve months, Wayzata's appreciation rate has been -0.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wayzata were at 1.72%, which equates to an annual appreciation rate of 6.88%.

Relative to Minnesota, our data show that Wayzata's latest annual appreciation rate is higher than 42% of the other cities and towns in Minnesota.