Big Lake, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Big Lake, 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

Big Lake Housing Market Information

With a population of 10,368, 3,369 total housing units (homes and apartments), and a median house value of $213,003, Big Lake real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Big Lake, accounting for 83.24% of the city's housing units. Other types of housing that are prevalent in Big Lake include large apartment complexes or high rise apartments ( 8.57%), row houses and other attached homes ( 5.09%), and a few mobile homes or trailers ( 2.77%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Big Lake. Owner-occupied housing accounts for 85.33% of Big Lake's homes, and 71.90% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Big Lake 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 Big Lake built between 2000 and later ( 39.71%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.83%). There's also some housing in Big Lake built before 1939 ( 6.11%).

Big Lake Home Appreciation Rates

Big Lake's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Big Lake during the period has been just -1.65%, which is lower than 80% of US communities.

Appreciation rates are so strong in Big Lake that despite a nationwide downturn in the housing market, Big Lake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Big Lake appreciation rates continue to be some of the highest in America, at 7.16%, which is higher than appreciation rates in 82.23% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Big Lake. Big Lake appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.89%.

Relative to Minnesota, our data show that Big Lake's latest annual appreciation rate is higher than 80% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$213,003

Big Lake, MN HOME PRICES

Value Range
> $1,211,000 0.3
$909,001 - $1,211,000 0.8
$606,001 - $909,000 1.1
$485,001 - $606,000 1.9
$363,001 - $485,000 7.9
$242,001 - $363,000 22.8
$121,001 - $242,000 55.3
$61,001 - $121,000 5.5
$0 - $61,000 4.4

High for MN
High for Nation

Value Relative to Nation Value Relative to State
29.215984999414 34.0862422997947

Number Of Homes And Apartments:
3,369

Big Lake 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
19.50% 1.04% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,040 / per month

Homeownership Rate

Homeownership
Owners 85.33
Renters 14.67
Vacant 6.83

Housing Market Details

 

Age of Homes

AGE OF Big Lake HOMES
2000 or Newer 39.7
1970 - 1999 46.3
1940 - 1969 7.8
1939 or Older 6.1

Types of Homes

TYPE OF Big Lake HOMES
Single-Family 83.2
Townhomes 5.1
Small Apt. Buildings 0.3
Apt. Complexes 8.6
Mobile Homes 2.8
Other 0.0

Home Size

SIZE OF Big Lake HOMES
No Bedroom 1.38
1 Bedroom 3.21
2 Bedrooms 20.08
3 Bedrooms 43.42
4 Bedrooms 28.48
5 or more bedrooms 3.43

Popular Neighborhoods in Big Lake

Zip Codes in Big Lake, MN