Eveleth, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Eveleth, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Eveleth Housing Market Information

With 3,673 people, 1,642 houses or apartments, and a median cost of homes of $77,298, house prices in Eveleth are some of the most affordable in Minnesota as well as the nation.

Single-family detached homes are the single most common housing type in Eveleth, accounting for 65.61% of the city's housing units. Other types of housing that are prevalent in Eveleth include duplexes, homes converted to apartments or other small apartment buildings ( 16.54%), large apartment complexes or high rise apartments ( 16.32%), and a few row houses and other attached homes ( 1.14%).

The most prevalent building size and type in Eveleth are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.05% owning and 44.95% renting.

The housing in Eveleth was primarily built before 1939 ( 40.32%), making the housing stock in Eveleth some of the oldest overall in America, although there is a range of ages of homes in Eveleth. The next most important housing age is between 1940-1969 ( 35.36%), followed by between 1970-1999 ( 22.25%). There's also some housing in Eveleth built between 2000 and later ( 2.07%).

Vacant housing appears to be an issue in Eveleth. Fully 10.66% of the housing stock is classified as vacant. Left unchecked, vacant Eveleth homes and apartments can be a drag on the real estate market, holding Eveleth real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Eveleth Home Appreciation Rates

Real estate appreciation rates in Eveleth's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.69% during the period.

NeighborhoodScout's data show that during the latest twelve months, Eveleth's appreciation rate, at 4.10%, has been at or slightly above the national average. In the latest quarter, Eveleth's appreciation rate has been 1.03%, which annualizes to a rate of 4.17%.

Relative to Minnesota, our data show that Eveleth's latest annual appreciation rate is lower than 50% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$77,298

Eveleth, MN HOME PRICES

Value Range
> $1,076,000 0.0
$807,001 - $1,076,000 0.0
$538,001 - $807,000 0.0
$431,001 - $538,000 0.0
$323,001 - $431,000 0.0
$215,001 - $323,000 4.7
$108,001 - $215,000 20.1
$54,001 - $108,000 50.2
$0 - $54,000 25.0

Very Low for MN
Very Low for Nation

Value Relative to Nation Value Relative to State
92.0895347474511 98.1519507186858

Number Of Homes And Apartments:
1,642

Eveleth Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
34.46% 1.73% 4 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$739 / per month

Homeownership Rate

Homeownership
Owners 55.05
Renters 44.95
Vacant 10.66

Housing Market Details

 

Age of Homes

AGE OF Eveleth HOMES
2000 or Newer 2.1
1970 - 1999 22.3
1940 - 1969 35.4
1939 or Older 40.3

Types of Homes

TYPE OF Eveleth HOMES
Single-Family 65.6
Townhomes 1.1
Small Apt. Buildings 16.5
Apt. Complexes 16.3
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Eveleth HOMES
No Bedroom 2.94
1 Bedroom 13.71
2 Bedrooms 30.14
3 Bedrooms 37.49
4 Bedrooms 15.34
5 or more bedrooms 0.38

Popular Neighborhoods in Eveleth

Zip Codes in Eveleth, MN