Austin, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Austin Neighborhoods Since 2000




Austin, MN Real Estate Data


Austin Housing Market Information

With a population of 24,563, 9,903 total housing units (homes and apartments), and a median house value of $114,919, 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 71.25% of the city's housing units. Other types of housing that are prevalent in Austin include large apartment complexes or high rise apartments ( 17.65%), duplexes, homes converted to apartments or other small apartment buildings ( 5.29%), and a few row houses and other attached homes ( 3.90%).

The most prevalent building size and type in Austin are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.50% owning and 36.50% 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. Austin's housing was primarily built during this period, from the '40s through the '60s. A full 50.58% of the city's housing hails from this era. Other housing ages represented in Austin include homes built between 1970-1999 ( 21.30%) and housing constructed before 1939 ( 19.91%). There's also some housing in Austin built between 2000 and later ( 8.21%).

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 -0.61% 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 4.18%, 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 1.73%, which equates to an annual appreciation rate of 7.09%.

Relative to Minnesota, our data show that Austin's latest annual appreciation rate is lower than 80% 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:
$114,919

Austin, MN HOME PRICES

Value Range
> $1,101,000 0.0
$826,001 - $1,101,000 0.3
$550,001 - $826,000 0.5
$440,001 - $550,000 1.4
$330,001 - $440,000 3.2
$220,001 - $330,000 8.5
$110,001 - $220,000 28.6
$55,001 - $110,000 45.7
$0 - $55,000 11.9

Very Low for MN
Low for Nation

Value Relative to Nation Value Relative to State
69.3271651929496 85.6262833675565

Number Of Homes And Apartments:
9,903

Rent & Ownership

 

Average Market Rent:
$763 / per month

Homeownership Rate

Homeownership
Owners 63.50
Renters 36.50
Vacant 8.50

Housing Market Details

 

Age of Homes

AGE OF Austin HOMES
2000 or Newer 8.2
1970 - 1999 21.3
1940 - 1969 50.6
1939 or Older 19.9

Types of Homes

TYPE OF Austin HOMES
Single-Family 71.2
Townhomes 3.9
Small Apt. Buildings 5.3
Apt. Complexes 17.6
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Austin HOMES
No Bedroom 2.05
1 Bedroom 13.29
2 Bedrooms 31.53
3 Bedrooms 34.82
4 Bedrooms 14.65
5 or more bedrooms 3.65

Austin 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
11.14% 0.62% 1 1
* 10 is highest