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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 86,619 people, 36,106 houses or apartments, and a median cost of homes of $261,156, 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 60.31% of the city's housing units. Other types of housing that are prevalent in Duluth include large apartment complexes or high rise apartments ( 20.67%), duplexes, homes converted to apartments or other small apartment buildings ( 13.51%), and a few row houses and other attached homes ( 2.78%).
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 ( 44.01%), 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 ( 26.55%), followed by between 1970-1999 ( 19.81%). There's also some housing in Duluth built between 2000 and later ( 9.64%).
Appreciation rates for homes in Duluth have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 81.02%, which ranks in the top 50% nationwide. This equates to an annual average Duluth house appreciation rate of 6.11%.
Appreciation rates are so strong in Duluth that despite a nationwide downturn in the housing market, Duluth real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Duluth appreciation rates continue to be some of the highest in America, at 9.81%, which is higher than appreciation rates in 94.57% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Duluth. Duluth appreciation rates in the latest quarter were at 5.37%, which equates to an annual appreciation rate of 23.27%.
Importantly, this makes Duluth 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 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.
$261,156
for Minnesota
for nation
36,106
$1,990 / per month