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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Cass Lake, 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Cass Lake, MN Housing Market Trends

With 685 people, 239 houses or apartments, and a median cost of homes of $164,628, house prices in Cass Lake are solidly below the national average.

Single-family detached homes are the single most common housing type in Cass Lake, accounting for 46.08% of the city's housing units. Other types of housing that are prevalent in Cass Lake include large apartment complexes or high rise apartments ( 28.67%), duplexes, homes converted to apartments or other small apartment buildings ( 12.97%), and a few mobile homes or trailers ( 10.58%).

Cass Lake is dominated by renter-occupied one, two, or no bedrooms apartments. 70.29% of Cass Lake's dwellings are rentals.

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 before 1939 ( 29.69%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.62%). There's also some housing in Cass Lake built between 2000 and later ( 11.60%).

Vacant housing appears to be an issue in Cass Lake. Fully 18.43% 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

Appreciation rates for homes in Cass Lake have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 93.46%, which ranks in the top 40% nationwide. This equates to an annual average Cass Lake house appreciation rate of 6.82%.

Over the last year, Cass Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Cass Lake's appreciation rate has been 2.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cass Lake were at 3.08%, which equates to an annual appreciation rate of 12.89%.

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

$164,628

Cass Lake, MN Home Prices
> $1,429,000
$1,072,001 - $1,429,000
$715,001 - $1,072,000
$571,001 - $715,000
$429,001 - $571,000
$286,001 - $429,000
$143,001 - $286,000
$72,001 - $143,000
$0 - $72,000
0.0%
0.0%
2.1%
2.1%
0.5%
0.5%
2.3%
2.3%
5.5%
5.5%
8.4%
8.4%
35.3%
35.3%
23.9%
23.9%
22.1%
22.1%
0% 100.0%
% of Homes
Very Low

for Minnesota

Low

for nation

Number of Homes And Apartments:

239

Cass Lake Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,428 / per month

Homeownership Rate

Owners
Renters
Vacant
29.7%
29.7%
70.3%
70.3%
18.4%
18.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.6%
11.6%
32.1%
32.1%
26.6%
26.6%
29.7%
29.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
46.1%
46.1%
1.7%
1.7%
13.0%
13.0%
28.7%
28.7%
10.6%
10.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.7%
0.7%
27.3%
27.3%
33.8%
33.8%
32.8%
32.8%
5.5%
5.5%
0.0%
0.0%
0% 100.0%
% of Homes

Popular Neighborhoods in Cass Lake

Popular Communities Near Cass Lake, MN

Zip Codes in Cass Lake, MN