Cass Lake, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Cass Lake Neighborhoods Since 2000




Cass 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

Cass Lake Housing Market Information

With a population of 747, 285 total housing units (homes and apartments), and a median house value of $80,394, house prices in Cass Lake 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 Cass Lake, accounting for 63.22% of the city's housing units. Other types of housing that are prevalent in Cass Lake include large apartment complexes or high rise apartments ( 15.20%), mobile homes or trailers ( 13.68%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.08%).

People in Cass Lake primarily live in small (one, two or no bedroom) single-family detached homes. Cass Lake has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Cass 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 Cass Lake built between 1940-1969 ( 33.13%). A lesser amount of the housing stock also hails from before 1939 ( 23.10%). There's also some housing in Cass Lake built between 2000 and later ( 9.12%).

Vacant housing appears to be an issue in Cass Lake. Fully 13.37% of the housing stock is classified as vacant. Left unchecked, vacant Cass Lake homes and apartments can be a drag on the real estate market, holding Cass Lake real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Cass Lake Home Appreciation Rates

Real estate appreciation rates in Cass Lake's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.61% during the period.

NeighborhoodScout's data show that during the latest twelve months, Cass Lake's appreciation rate, at 3.16%, has been at or slightly above the national average. In the latest quarter, Cass Lake's appreciation rate has been -0.47%, which annualizes to a rate of -1.86%.

Relative to Minnesota, our data show that Cass Lake's latest annual appreciation rate is lower than 70% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$80,394

Cass Lake, MN HOME PRICES

Value Range
> $1,083,000 0.1
$812,001 - $1,083,000 0.5
$541,001 - $812,000 0.5
$433,001 - $541,000 1.0
$325,001 - $433,000 3.1
$217,001 - $325,000 9.1
$108,001 - $217,000 26.2
$54,001 - $108,000 24.5
$0 - $54,000 35.0

Very Low for MN
Very Low for Nation

Value Relative to Nation Value Relative to State
90.2378999179655 97.9466119096509

Number Of Homes And Apartments:
285

Cass 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
53.79% 2.53% 8 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$586 / per month

Homeownership Rate

Homeownership
Owners 54.04
Renters 45.96
Vacant 13.37

Housing Market Details

 

Age of Homes

AGE OF Cass Lake HOMES
2000 or Newer 9.1
1970 - 1999 34.7
1940 - 1969 33.1
1939 or Older 23.1

Types of Homes

TYPE OF Cass Lake HOMES
Single-Family 63.2
Townhomes 1.8
Small Apt. Buildings 6.1
Apt. Complexes 15.2
Mobile Homes 13.7
Other 0.0

Home Size

SIZE OF Cass Lake HOMES
No Bedroom 1.52
1 Bedroom 20.06
2 Bedrooms 33.13
3 Bedrooms 29.79
4 Bedrooms 11.85
5 or more bedrooms 3.65

Popular Neighborhoods in Cass Lake

Popular Communities Near Cass Lake, MN

Zip Codes in Cass Lake, MN