Benson, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Benson, 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

Benson Housing Market Information

With a population of 3,075, 1,495 total housing units (homes and apartments), and a median house value of $89,617, house prices in Benson are some of the most affordable in Minnesota as well as the nation.

Single-family detached homes are the single most common housing type in Benson, accounting for 67.14% of the city's housing units. Other types of housing that are prevalent in Benson include large apartment complexes or high rise apartments ( 21.83%), duplexes, homes converted to apartments or other small apartment buildings ( 5.46%), and a few row houses and other attached homes ( 4.97%).

The most prevalent building size and type in Benson are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.90% owning and 37.10% 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. Benson's housing was primarily built during this period, from the '40s through the '60s. A full 41.94% of the city's housing hails from this era. Other housing ages represented in Benson include homes built between 1970-1999 ( 29.49%) and housing constructed before 1939 ( 19.68%). There's also some housing in Benson built between 2000 and later ( 8.89%).

Benson Home Appreciation Rates

Real estate appreciation rates in Benson's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.65% during the period.

Over the last year, Benson appreciation rates have trailed the rest of the nation. In the last twelve months, Benson's appreciation rate has been -4.91%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Benson were at -0.47%, which equates to an annual appreciation rate of -1.86%.

Relative to Minnesota, our data show that Benson's latest annual appreciation rate is lower than 90% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$89,617

Benson, MN HOME PRICES

Value Range
> $984,000 0.0
$738,001 - $984,000 0.0
$492,001 - $738,000 0.0
$393,001 - $492,000 0.0
$295,001 - $393,000 2.1
$197,001 - $295,000 8.8
$98,001 - $197,000 27.1
$49,001 - $98,000 45.1
$0 - $49,000 16.9

Very Low for MN
Very Low for Nation

Value Relative to Nation Value Relative to State
84.2845423649361 95.482546201232

Number Of Homes And Apartments:
1,495

Benson 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
20.98% 1.11% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$805 / per month

Homeownership Rate

Homeownership
Owners 62.90
Renters 37.10
Vacant 8.34

Housing Market Details

 

Age of Homes

AGE OF Benson HOMES
2000 or Newer 8.9
1970 - 1999 29.5
1940 - 1969 41.9
1939 or Older 19.7

Types of Homes

TYPE OF Benson HOMES
Single-Family 67.1
Townhomes 5.0
Small Apt. Buildings 5.5
Apt. Complexes 21.8
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Benson HOMES
No Bedroom 4.05
1 Bedroom 13.55
2 Bedrooms 27.28
3 Bedrooms 32.80
4 Bedrooms 17.84
5 or more bedrooms 4.48

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Zip Codes in Benson, MN