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


Cottage Grove Housing Market Information

With 35,918 people, 11,923 houses or apartments, and a median cost of homes of $274,477, 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 81.68% of the city's housing units. Other types of housing that are prevalent in Cottage Grove include row houses and other attached homes ( 9.00%), large apartment complexes or high rise apartments ( 6.19%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.85%).

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 88.37% of Cottage Grove's homes, and 72.79% 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 ( 21.97%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.66%). There's also some housing in Cottage Grove built before 1939 ( 1.95%).

Cottage Grove Home Appreciation Rates

Cottage Grove's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cottage Grove during the period has been just -0.72%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Cottage Grove's appreciation rate, at 5.13%, has been at or slightly above the national average. In the latest quarter, Cottage Grove's appreciation rate has been 2.70%, which annualizes to a rate of 11.26%.

Importantly, this makes Cottage Grove one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Minnesota, our data show that Cottage Grove's latest annual appreciation rate is higher than 50% 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:
$274,477

Cottage Grove, MN HOME PRICES

Value Range
> $1,217,000 0.2
$913,001 - $1,217,000 0.1
$609,001 - $913,000 1.7
$487,001 - $609,000 4.2
$365,001 - $487,000 11.7
$243,001 - $365,000 35.1
$122,001 - $243,000 41.2
$61,001 - $122,000 2.4
$0 - $61,000 3.5

Very High for MN
Very High for Nation

Value Relative to Nation Value Relative to State
19.7458570006441 15.4004106776181

Number Of Homes And Apartments:
11,923

Rent & Ownership

 

Average Market Rent:
$1,385 / per month

Homeownership Rate

Homeownership
Owners 88.37
Renters 11.63
Vacant 4.78

Housing Market Details

 

Age of Homes

AGE OF Cottage Grove HOMES
2000 or Newer 16.7
1970 - 1999 59.4
1940 - 1969 22.0
1939 or Older 1.9

Types of Homes

TYPE OF Cottage Grove HOMES
Single-Family 81.7
Townhomes 9.0
Small Apt. Buildings 1.9
Apt. Complexes 6.2
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Cottage Grove HOMES
No Bedroom 0.33
1 Bedroom 2.09
2 Bedrooms 14.89
3 Bedrooms 41.98
4 Bedrooms 30.81
5 or more bedrooms 9.90

Cottage Grove Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
35.24% 1.79% 4 4
* 10 is highest