Brooklyn Park, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Brooklyn Park Neighborhoods Since 2000




Brooklyn Park, 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

Brooklyn Park Housing Market Information

With 79,149 people, 26,758 houses or apartments, and a median cost of homes of $196,611, Brooklyn Park real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Brooklyn Park, accounting for 59.97% of the city's housing units. Other types of housing that are prevalent in Brooklyn Park include large apartment complexes or high rise apartments ( 21.93%), row houses and other attached homes ( 15.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.15%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Brooklyn Park. Owner-occupied housing accounts for 69.83% of Brooklyn Park's homes, and 54.42% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Brooklyn Park 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 Brooklyn Park built between 1940-1969 ( 20.68%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.75%). There's also some housing in Brooklyn Park built before 1939 ( 2.17%).

Brooklyn Park Home Appreciation Rates

Brooklyn Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Brooklyn Park during the period has been just -1.53%, which is lower than 80% of US communities.

Appreciation rates are so strong in Brooklyn Park that despite a nationwide downturn in the housing market, Brooklyn Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Brooklyn Park appreciation rates continue to be some of the highest in America, at 5.84%, which is higher than appreciation rates in 72.77% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Brooklyn Park. Brooklyn Park 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 Brooklyn Park's latest annual appreciation rate is higher 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 Brooklyn Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Brooklyn Park - 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 Brooklyn Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$196,611

Brooklyn Park, MN HOME PRICES

Value Range
> $1,214,000 0.2
$910,001 - $1,214,000 0.4
$607,001 - $910,000 0.9
$486,001 - $607,000 1.8
$364,001 - $486,000 8.1
$243,001 - $364,000 22.9
$121,001 - $243,000 53.3
$61,001 - $121,000 8.6
$0 - $61,000 3.9

Average for MN
High for Nation

Value Relative to Nation Value Relative to State
33.1126215867807 41.6837782340862

Number Of Homes And Apartments:
26,758

Brooklyn Park 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
25.22% 1.31% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,447 / per month

Homeownership Rate

Homeownership
Owners 69.83
Renters 30.17
Vacant 5.92

Housing Market Details

 

Age of Homes

AGE OF Brooklyn Park HOMES
2000 or Newer 13.7
1970 - 1999 63.4
1940 - 1969 20.7
1939 or Older 2.2

Types of Homes

TYPE OF Brooklyn Park HOMES
Single-Family 60.0
Townhomes 15.8
Small Apt. Buildings 2.2
Apt. Complexes 21.9
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Brooklyn Park HOMES
No Bedroom 0.92
1 Bedroom 11.43
2 Bedrooms 25.92
3 Bedrooms 29.93
4 Bedrooms 24.48
5 or more bedrooms 7.32