Duluth, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Duluth, MN Housing Market Trends

With 85,618 people, 36,182 houses or apartments, and a median cost of homes of $201,264, Duluth real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Duluth, accounting for 61.19% of the city's housing units. Other types of housing that are prevalent in Duluth include large apartment complexes or high rise apartments ( 20.92%), duplexes, homes converted to apartments or other small apartment buildings ( 12.49%), and a few mobile homes or trailers ( 2.67%).

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

The housing in Duluth was primarily built before 1939 ( 43.24%), making the housing stock in Duluth some of the oldest overall in America, although there is a range of ages of homes in Duluth. The next most important housing age is between 1940-1969 ( 27.60%), followed by between 1970-1999 ( 20.67%). There's also some housing in Duluth built between 2000 and later ( 8.49%).

Duluth Home Appreciation Rates

Real estate appreciation rates in Duluth's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.50% during the period.

NeighborhoodScout's data show that during the latest twelve months, Duluth's appreciation rate, at 5.19%, has been at or slightly above the national average. In the latest quarter, Duluth's appreciation rate has been 2.48%, which annualizes to a rate of 10.31%.

Relative to Minnesota, our data show that Duluth's latest annual appreciation rate is higher than 90% 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 Duluth differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Duluth - 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 Duluth real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$201,264

Duluth, MN HOME PRICES

> $1,158,000
0.2%
0.2%
$868,001 - $1,158,000
0.6%
0.6%
$579,001 - $868,000
2.8%
2.8%
$463,001 - $579,000
4.4%
4.4%
$347,001 - $463,000
7.4%
7.4%
$232,001 - $347,000
18.4%
18.4%
$116,001 - $232,000
48.6%
48.6%
$58,001 - $116,000
13.4%
13.4%
$0 - $58,000
4.0%
4.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for MN

Value Relative To Nation

Number Of Homes And Apartments:
36,182

Duluth Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
80.73% 2.86%
7
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,149 / per month

Homeownership Rate

Owners
56.0%
56.0%
Renters
44.0%
44.0%
Vacant
6.0%
6.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.5%
8.5%
1970 - 1999
20.7%
20.7%
1940 - 1969
27.6%
27.6%
1939 or Older
43.2%
43.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
61.2%
61.2%
Townhomes
2.7%
2.7%
Small Apt. Buildings
12.5%
12.5%
Apt. Complexes
20.9%
20.9%
Mobile Homes
2.7%
2.7%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.5%
4.5%
1 Bedroom
14.4%
14.4%
2 Bedrooms
30.0%
30.0%
3 Bedrooms
33.6%
33.6%
4 Bedrooms
12.9%
12.9%
5 or more bedrooms
4.6%
4.6%
0.0% 100.0%
% OF HOMES