Aitkin, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Aitkin, MN Real Estate Data


Aitkin Housing Market Information

With a population of 2,053, 1,105 total housing units (homes and apartments), and a median house value of $141,983, 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 60.93% of the city's housing units. Other types of housing that are prevalent in Aitkin include large apartment complexes or high rise apartments ( 27.81%), duplexes, homes converted to apartments or other small apartment buildings ( 5.31%), and a few row houses and other attached homes ( 5.06%).

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 between 1940-1969 ( 30.95%). A lesser amount of the housing stock also hails from before 1939 ( 25.80%). There's also some housing in Aitkin built between 2000 and later ( 11.58%).

Vacant housing appears to be an issue in Aitkin. Fully 11.17% 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

Aitkin's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Aitkin during the period has been just -1.69%, which is lower than 80% of US communities.

Over the last year, Aitkin appreciation rates have trailed the rest of the nation. In the last twelve months, Aitkin's appreciation rate has been 4.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Aitkin were at 1.73%, which equates to an annual appreciation rate of 7.09%.

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

Average Home Values

 

Median Home Value:
$141,983

Aitkin, MN HOME PRICES

Value Range
> $1,053,000 1.4
$789,001 - $1,053,000 0.0
$526,001 - $789,000 0.9
$421,001 - $526,000 1.7
$316,001 - $421,000 5.3
$211,001 - $316,000 15.8
$105,001 - $211,000 41.4
$53,001 - $105,000 24.1
$0 - $53,000 9.3

Low for MN
Average for Nation

Value Relative to Nation Value Relative to State
54.6348890320314 73.1006160164271

Number Of Homes And Apartments:
1,105

Rent & Ownership

 

Average Market Rent:
$1,032 / per month

Homeownership Rate

Homeownership
Owners 49.39
Renters 50.61
Vacant 11.17

Housing Market Details

 

Age of Homes

AGE OF Aitkin HOMES
2000 or Newer 11.6
1970 - 1999 31.7
1940 - 1969 30.9
1939 or Older 25.8

Types of Homes

TYPE OF Aitkin HOMES
Single-Family 60.9
Townhomes 5.1
Small Apt. Buildings 5.3
Apt. Complexes 27.8
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Aitkin HOMES
No Bedroom 6.19
1 Bedroom 22.27
2 Bedrooms 25.56
3 Bedrooms 33.20
4 Bedrooms 9.08
5 or more bedrooms 3.70

Aitkin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
29.51% 1.53% 3 3
* 10 is highest

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Zip Codes in Aitkin, MN