Edina, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Edina, MN Real Estate Data


Edina Housing Market Information

With a population of 50,138, 20,881 total housing units (homes and apartments), and a median house value of $478,308, 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 56.72% of the city's housing units. Other types of housing that are prevalent in Edina include large apartment complexes or high rise apartments ( 34.53%), row houses and other attached homes ( 6.21%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.22%).

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 73.07% of Edina's homes, and 46.73% 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 48.33% of the city's housing hails from this era. Other housing ages represented in Edina include homes built between 1970-1999 ( 35.57%) and housing constructed between 2000 and later ( 8.46%). There's also some housing in Edina built before 1939 ( 7.64%).

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 9.31%, which ranks in the top 40% nationwide. This equates to an annual average Edina house appreciation rate of 0.89%.

NeighborhoodScout's data show that during the latest twelve months, Edina's appreciation rate, at 5.20%, has been at or slightly above the national average. In the latest quarter, Edina's appreciation rate has been 0.82%, which annualizes to a rate of 3.33%.

Relative to Minnesota, our data show that Edina'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 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:
$478,308

Edina, MN HOME PRICES

Value Range
> $1,149,000 3.5
$862,001 - $1,149,000 9.3
$575,001 - $862,000 18.0
$460,001 - $575,000 15.1
$345,001 - $460,000 18.3
$230,001 - $345,000 11.7
$115,001 - $230,000 12.6
$57,001 - $115,000 5.0
$0 - $57,000 2.0

Very High for MN
Very High for Nation

Value Relative to Nation Value Relative to State
6.39868744872847 2.05338809034908

Number Of Homes And Apartments:
20,881

Rent & Ownership

 

Average Market Rent:
$1,518 / per month

Homeownership Rate

Homeownership
Owners 73.07
Renters 26.93
Vacant 6.63

Housing Market Details

 

Age of Homes

AGE OF Edina HOMES
2000 or Newer 8.5
1970 - 1999 35.6
1940 - 1969 48.3
1939 or Older 7.6

Types of Homes

TYPE OF Edina HOMES
Single-Family 56.7
Townhomes 6.2
Small Apt. Buildings 2.2
Apt. Complexes 34.5
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Edina HOMES
No Bedroom 2.18
1 Bedroom 15.39
2 Bedrooms 25.09
3 Bedrooms 23.70
4 Bedrooms 23.03
5 or more bedrooms 10.61

Edina Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
64.87% 2.94% 9 8
* 10 is highest