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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Aitkin, MN Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Aitkin, MN Housing Market Trends

With a population of 2,174, 866 total housing units (homes and apartments), and a median house value of $280,473, Aitkin real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Aitkin, accounting for 59.88% of the city's housing units. Other types of housing that are prevalent in Aitkin include large apartment complexes or high rise apartments ( 29.45%), duplexes, homes converted to apartments or other small apartment buildings ( 10.18%).

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

There is a lot of housing in Aitkin built from 1970 to 1999 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 Aitkin built before 1939 ( 26.58%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.22%). There's also some housing in Aitkin built between 2000 and later ( 17.69%).

Vacant housing appears to be an issue in Aitkin. Fully 14.43% of the housing stock is classified as vacant. Left unchecked, vacant Aitkin homes and apartments can be a drag on the real estate market, holding Aitkin real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Aitkin Home Appreciation Rates

Real estate appreciation rates in Aitkin's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.43% during the period.

NeighborhoodScout's data show that during the latest twelve months, Aitkin's appreciation rate, at 8.26%, has been at or slightly above the national average. In the latest quarter, Aitkin's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Minnesota, our data show that Aitkin's latest annual appreciation rate is higher than 80% of the other cities and towns in Minnesota.

Average Home Values

Median Home Value

$280,473

Aitkin, MN Home Prices
> $1,429,000
$1,072,001 - $1,429,000
$714,001 - $1,072,000
$572,001 - $714,000
$429,001 - $572,000
$286,001 - $429,000
$143,001 - $286,000
$71,001 - $143,000
$0 - $71,000
2.1%
2.1%
1.6%
1.6%
2.8%
2.8%
3.4%
3.4%
7.6%
7.6%
24.4%
24.4%
40.0%
40.0%
13.4%
13.4%
4.7%
4.7%
0% 100.0%
% of Homes
Average

for Minnesota

Average

for nation

Number of Homes And Apartments:

866

Aitkin Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,390 / per month

Homeownership Rate

Owners
Renters
51.1%
51.1%
48.9%
48.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
14.4%
14.4%
85.6%
85.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.7%
17.7%
32.5%
32.5%
23.2%
23.2%
26.6%
26.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
59.9%
59.9%
0.5%
0.5%
10.2%
10.2%
29.4%
29.4%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
9.3%
9.3%
17.4%
17.4%
32.7%
32.7%
22.6%
22.6%
16.5%
16.5%
1.5%
1.5%
0% 100.0%
% of Homes

Popular Communities Near Aitkin, MN

Zip Codes in Aitkin, MN