Cottage Grove, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Cottage Grove Neighborhoods Since 2000




Cottage Grove, 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

Cottage Grove Housing Market Information

With a population of 35,918, 11,890 total housing units (homes and apartments), and a median house value of $263,595, Cottage Grove real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Cottage Grove, accounting for 81.25% of the city's housing units. Other types of housing that are prevalent in Cottage Grove include row houses and other attached homes ( 10.27%), large apartment complexes or high rise apartments ( 4.91%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.53%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cottage Grove. Owner-occupied housing accounts for 86.44% of Cottage Grove's homes, and 72.47% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cottage Grove 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 Cottage Grove built between 1940-1969 ( 21.88%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.98%). There's also some housing in Cottage Grove built before 1939 ( 1.97%).

Cottage Grove Home Appreciation Rates

Real estate appreciation rates in Cottage Grove's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.73% during the period.

NeighborhoodScout's data show that during the latest twelve months, Cottage Grove's appreciation rate, at 5.29%, has been at or slightly above the national average. In the latest quarter, Cottage Grove's appreciation rate has been 1.44%, which annualizes to a rate of 5.89%.

Relative to Minnesota, our data show that Cottage Grove's latest annual appreciation rate is higher than 60% 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 Cottage Grove differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cottage Grove - 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 Cottage Grove real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$263,595

Cottage Grove, MN HOME PRICES

Value Range
> $1,184,000 0.2
$888,001 - $1,184,000 0.1
$592,001 - $888,000 1.8
$474,001 - $592,000 4.0
$355,001 - $474,000 12.6
$237,001 - $355,000 35.1
$118,001 - $237,000 40.7
$59,001 - $118,000 2.6
$0 - $59,000 2.9

Very High for MN
High for Nation

Value Relative to Nation Value Relative to State
20.5789288644088 16.4271047227926

Number Of Homes And Apartments:
11,890

Cottage Grove 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
35.06% 1.76% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,396 / per month

Homeownership Rate

Homeownership
Owners 86.44
Renters 13.56
Vacant 3.88

Housing Market Details

 

Age of Homes

AGE OF Cottage Grove HOMES
2000 or Newer 17.0
1970 - 1999 59.2
1940 - 1969 21.9
1939 or Older 2.0

Types of Homes

TYPE OF Cottage Grove HOMES
Single-Family 81.3
Townhomes 10.3
Small Apt. Buildings 2.5
Apt. Complexes 4.9
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF Cottage Grove HOMES
No Bedroom 0.19
1 Bedroom 2.61
2 Bedrooms 14.41
3 Bedrooms 40.03
4 Bedrooms 32.44
5 or more bedrooms 10.31