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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.



Austin, 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 Q4 2023. 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

Austin, MN Housing Market Trends

With 26,208 people, 10,172 houses or apartments, and a median cost of homes of $170,160, house prices in Austin are solidly below the national average.

Single-family detached homes are the single most common housing type in Austin, accounting for 71.01% of the city's housing units. Other types of housing that are prevalent in Austin include large apartment complexes or high rise apartments ( 17.30%), duplexes, homes converted to apartments or other small apartment buildings ( 5.59%), and a few row houses and other attached homes ( 4.39%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Austin. Owner-occupied housing accounts for 66.59% of Austin's homes, and 53.49% have either three or four bedrooms, which is average sized relative to America.

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. Austin's housing was primarily built during this period, from the '40s through the '60s. A full 48.17% of the city's housing hails from this era. Other housing ages represented in Austin include homes built before 1939 ( 20.82%) and housing constructed between 1970-1999 ( 20.00%). There's also some housing in Austin built between 2000 and later ( 11.02%).

Austin Home Appreciation Rates

Real estate appreciation rates in Austin's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.83% during the period.

Over the last year, Austin appreciation rates have trailed the rest of the nation. In the last twelve months, Austin's appreciation rate has been 3.81%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Austin were at -0.63%, which equates to an annual appreciation rate of -2.49%.

Notably, Austin's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Minnesota, our data show that Austin's latest annual appreciation rate is lower than 60% 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 Austin differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Austin - 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 2000, to assist you in making the best Austin real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$170,160

Austin, MN Home Prices
> $1,303,000
$977,001 - $1,303,000
$652,001 - $977,000
$522,001 - $652,000
$391,001 - $522,000
$261,001 - $391,000
$130,001 - $261,000
$65,001 - $130,000
$0 - $65,000
0.3%
0.3%
0.3%
0.3%
1.0%
1.0%
3.6%
3.6%
5.4%
5.4%
12.5%
12.5%
45.4%
45.4%
26.2%
26.2%
5.3%
5.3%
0% 100.0%
% of Homes
Very Low

for Minnesota

Low

for nation

Number of Homes And Apartments:

10,172

Austin Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,288 / per month

Homeownership Rate

Owners
Renters
66.6%
66.6%
33.4%
33.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.1%
7.1%
92.9%
92.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.0%
11.0%
20.0%
20.0%
48.2%
48.2%
20.8%
20.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
71.0%
71.0%
4.4%
4.4%
5.6%
5.6%
17.3%
17.3%
1.7%
1.7%
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
1.4%
1.4%
14.7%
14.7%
26.4%
26.4%
35.8%
35.8%
17.7%
17.7%
4.1%
4.1%
0% 100.0%
% of Homes