Bemidji, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bemidji, MN Real Estate Data


Bemidji Housing Market Information

With 14,594 people, 5,711 houses or apartments, and a median cost of homes of $151,937, Bemidji 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 Bemidji, accounting for 48.68% of the city's housing units. Other types of housing that are prevalent in Bemidji include large apartment complexes or high rise apartments ( 26.11%), duplexes, homes converted to apartments or other small apartment buildings ( 10.05%), and a few row houses and other attached homes ( 9.28%).

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

There is a lot of housing in Bemidji 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 Bemidji built between 1940-1969 ( 29.61%). A lesser amount of the housing stock also hails from before 1939 ( 16.80%). There's also some housing in Bemidji built between 2000 and later ( 15.02%).

Bemidji Home Appreciation Rates

Appreciation rates for homes in Bemidji have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.68%, which ranks in the top 40% nationwide. This equates to an annual average Bemidji house appreciation rate of 0.84%.

Over the last year, Bemidji appreciation rates have trailed the rest of the nation. In the last twelve months, Bemidji's appreciation rate has been 3.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bemidji were at 1.73%, which equates to an annual appreciation rate of 7.09%.

Relative to Minnesota, our data show that Bemidji'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 Bemidji differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bemidji - 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 Bemidji real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$151,937

Bemidji, MN HOME PRICES

Value Range
> $1,095,000 0.0
$821,001 - $1,095,000 0.0
$547,001 - $821,000 0.4
$438,001 - $547,000 1.5
$328,001 - $438,000 4.4
$219,001 - $328,000 14.9
$110,001 - $219,000 44.6
$54,001 - $110,000 24.3
$0 - $54,000 9.9

Low for MN
Average for Nation

Value Relative to Nation Value Relative to State
49.9502254494349 66.3244353182751

Number Of Homes And Apartments:
5,711

Rent & Ownership

 

Average Market Rent:
$973 / per month

Homeownership Rate

Homeownership
Owners 43.87
Renters 56.13
Vacant 7.39

Housing Market Details

 

Age of Homes

AGE OF Bemidji HOMES
2000 or Newer 15.0
1970 - 1999 38.6
1940 - 1969 29.6
1939 or Older 16.8

Types of Homes

TYPE OF Bemidji HOMES
Single-Family 48.7
Townhomes 9.3
Small Apt. Buildings 10.1
Apt. Complexes 26.1
Mobile Homes 5.9
Other 0.0

Home Size

SIZE OF Bemidji HOMES
No Bedroom 5.61
1 Bedroom 17.24
2 Bedrooms 38.17
3 Bedrooms 19.75
4 Bedrooms 15.27
5 or more bedrooms 3.96

Bemidji 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
57.97% 2.73% 8 7
* 10 is highest