Brooklyn Park, MN Real Estate Market

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 Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Brooklyn Park, MN Housing Market Trends

With a population of 86,478, 27,837 total housing units (homes and apartments), and a median house value of $303,413, 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 57.99% of the city's housing units. Other types of housing that are prevalent in Brooklyn Park include large apartment complexes or high rise apartments ( 25.21%), row houses and other attached homes ( 14.82%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.71%).

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 67.90% of Brooklyn Park's homes, and 54.32% 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 ( 21.82%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.54%). There's also some housing in Brooklyn Park built before 1939 ( 1.85%).

Brooklyn Park Home Appreciation Rates

In the last 10 years, Brooklyn Park has experienced some of the highest home appreciation rates of any community in the nation. Brooklyn Park real estate appreciated 97.26% over the last ten years, which is an average annual home appreciation rate of 7.03%, putting Brooklyn Park in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Brooklyn Park definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Brooklyn Park appreciation rates have trailed the rest of the nation. In the last twelve months, Brooklyn Park's appreciation rate has been 16.93%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Brooklyn Park were at 6.62%, which equates to an annual appreciation rate of 29.22%.

Relative to Minnesota, our data show that Brooklyn Park'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 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:
$303,413

Brooklyn Park, MN HOME PRICES

> $1,333,000
0.4%
0.4%
$999,001 - $1,333,000
0.2%
0.2%
$666,001 - $999,000
2.5%
2.5%
$533,001 - $666,000
5.7%
5.7%
$400,001 - $533,000
13.6%
13.6%
$267,001 - $400,000
43.0%
43.0%
$133,001 - $267,000
29.2%
29.2%
$66,001 - $133,000
1.9%
1.9%
$0 - $66,000
3.6%
3.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for MN

Value Relative To Nation

Number Of Homes And Apartments:
27,837

Brooklyn Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
90.00% 2.96%
4
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,790 / per month

Homeownership Rate

Owners
67.9%
67.9%
Renters
32.1%
32.1%
Vacant
3.9%
3.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
15.5%
15.5%
1970 - 1999
60.8%
60.8%
1940 - 1969
21.8%
21.8%
1939 or Older
1.9%
1.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
58.0%
58.0%
Townhomes
14.8%
14.8%
Small Apt. Buildings
1.7%
1.7%
Apt. Complexes
25.2%
25.2%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.3%
3.3%
1 Bedroom
10.6%
10.6%
2 Bedrooms
23.5%
23.5%
3 Bedrooms
28.5%
28.5%
4 Bedrooms
25.8%
25.8%
5 or more bedrooms
8.3%
8.3%
0.0% 100.0%
% OF HOMES