Edina MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Edina, 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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Edina Housing Market Information

With a population of 51,958, 21,454 total housing units (homes and apartments), and a median house value of $519,918, Edina house prices are not only among the most expensive in Minnesota, Edina real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Edina, accounting for 55.96% of the city's housing units. Other types of housing that are prevalent in Edina include large apartment complexes or high rise apartments ( 36.16%), row houses and other attached homes ( 5.89%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.57%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Edina. Owner-occupied housing accounts for 71.91% of Edina's homes, and 46.83% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Edina's housing was primarily built during this period, from the '40s through the '60s. A full 46.03% of the city's housing hails from this era. Other housing ages represented in Edina include homes built between 1970-1999 ( 37.02%) and housing constructed between 2000 and later ( 8.92%). There's also some housing in Edina built before 1939 ( 8.03%).

Edina Home Appreciation Rates

Appreciation rates for homes in Edina have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 23.77%, which ranks in the top 40% nationwide. This equates to an annual average Edina house appreciation rate of 2.16%.

Over the last year, Edina appreciation rates have trailed the rest of the nation. In the last twelve months, Edina's appreciation rate has been 1.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Edina were at 1.35%, which equates to an annual appreciation rate of 5.49%.

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

Average Home Values

 

Median Home Value:
$519,918

Edina, MN HOME PRICES

Value Range
> $1,152,000 9.7
$864,001 - $1,152,000 10.3
$576,001 - $864,000 19.0
$461,001 - $576,000 16.8
$346,001 - $461,000 15.9
$230,001 - $346,000 10.8
$115,001 - $230,000 11.3
$57,001 - $115,000 4.6
$0 - $57,000 1.7

Very High for MN
Very High for Nation

Value Relative to Nation Value Relative to State
6.56350364963504 2.6694045174538

Number Of Homes And Apartments:
21,454

Edina Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
77.86% 3.00%
9
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,723 / per month

Homeownership Rate

Homeownership
Owners 71.91
Renters 28.09
Vacant 6.22

Housing Market Details

 

Age of Homes

AGE OF Edina HOMES
2000 or Newer 8.9
1970 - 1999 37.0
1940 - 1969 46.0
1939 or Older 8.0

Types of Homes

TYPE OF Edina HOMES
Single-Family 56.0
Townhomes 5.9
Small Apt. Buildings 1.6
Apt. Complexes 36.2
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Edina HOMES
No Bedroom 2.50
1 Bedroom 16.37
2 Bedrooms 23.57
3 Bedrooms 23.71
4 Bedrooms 23.12
5 or more bedrooms 10.74