Minot appreciation rates and housing market information

Minot housing market information

With 36,580 people, 16,485 houses or apartments, and a median cost of homes of $138,360, Minot real estate is some of the most expensive in North Dakota, although Minot home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Minot, accounting for 55.79% of the city's housing units. Other types of housing that are prevalent in Minot include large apartment complexes or high rise apartments (18.84%), duplexes, homes converted to apartments, or other small apartment buildings (10.88%), mobile homes or trailers (9.48%), and a few row houses and other attached homes (5.00%).

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

There is a lot of housing in Minot built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Minot built from 1940-1969 (38.65%). A lesser amount of the housing stock also hails from 1939 and earlier (15.30%), and some were built from 1995 and later (15.30%).

Minot home appreciation rates

Real estate appreciation rates in Minot have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.40% during the period.

Appreciation rates are so strong in Minot that despite a nationwide downturn in the housing market, Minot real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Minot appreciation rates continue to be some of the highest in America, at 5.99%, which is higher than appreciation rates in 94% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Minot. Minot appreciation rates in the latest quarter were at -0.19%, which equates to an annual appreciation rate of -0.76%.

Relative to North Dakota, our data show that Minot's latest annual appreciation rate is higher than 62% of the other cities and towns in North Dakota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Minot differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Minot - 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 Minot real estate investment or home purchase decisions.