Bemidji, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Bemidji Neighborhoods Since 2000




Bemidji, MN Real Estate Data

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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Bemidji Housing Market Information

With 14,594 people, 5,812 houses or apartments, and a median cost of homes of $148,781, 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 47.65% of the city's housing units. Other types of housing that are prevalent in Bemidji include large apartment complexes or high rise apartments ( 27.23%), duplexes, homes converted to apartments or other small apartment buildings ( 11.44%), and a few row houses and other attached homes ( 7.47%).

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 ( 28.00%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.94%). There's also some housing in Bemidji built before 1939 ( 15.07%).

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 3.46%, which ranks in the top 50% nationwide. This equates to an annual average Bemidji house appreciation rate of 0.34%.

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 2.88%, 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 -0.47%, which equates to an annual appreciation rate of -1.86%.

Relative to Minnesota, our data show that Bemidji's latest annual appreciation rate is lower than 70% 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:
$148,781

Bemidji, MN HOME PRICES

Value Range
> $1,059,000 0.6
$794,001 - $1,059,000 0.9
$529,001 - $794,000 0.4
$424,001 - $529,000 0.5
$318,001 - $424,000 3.5
$212,001 - $318,000 15.0
$106,001 - $212,000 44.2
$53,001 - $106,000 25.0
$0 - $53,000 9.9

Low for MN
Average for Nation

Value Relative to Nation Value Relative to State
50.5566623696238 67.9671457905544

Number Of Homes And Apartments:
5,812

Bemidji Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
53.23% 2.50% 8 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$838 / per month

Homeownership Rate

Homeownership
Owners 41.89
Renters 58.11
Vacant 7.01

Housing Market Details

 

Age of Homes

AGE OF Bemidji HOMES
2000 or Newer 15.9
1970 - 1999 41.0
1940 - 1969 28.0
1939 or Older 15.1

Types of Homes

TYPE OF Bemidji HOMES
Single-Family 47.6
Townhomes 7.5
Small Apt. Buildings 11.4
Apt. Complexes 27.2
Mobile Homes 6.0
Other 0.3

Home Size

SIZE OF Bemidji HOMES
No Bedroom 5.42
1 Bedroom 16.13
2 Bedrooms 39.02
3 Bedrooms 22.61
4 Bedrooms 13.97
5 or more bedrooms 2.85