Fergus Falls, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Fergus Falls Neighborhoods Since 2000




Fergus Falls, 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

Fergus Falls Housing Market Information

With 13,281 people, 5,916 houses or apartments, and a median cost of homes of $144,494, Fergus Falls 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 Fergus Falls, accounting for 63.59% of the city's housing units. Other types of housing that are prevalent in Fergus Falls include large apartment complexes or high rise apartments ( 22.44%), duplexes, homes converted to apartments or other small apartment buildings ( 8.68%), and a few row houses and other attached homes ( 3.31%).

The most prevalent building size and type in Fergus Falls are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.60% owning and 42.40% renting.

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. Fergus Falls's housing was primarily built during this period, from the '40s through the '60s. A full 34.76% of the city's housing hails from this era. Other housing ages represented in Fergus Falls include homes built between 1970-1999 ( 32.73%) and housing constructed before 1939 ( 21.95%). There's also some housing in Fergus Falls built between 2000 and later ( 10.55%).

Fergus Falls Home Appreciation Rates

Appreciation rates for homes in Fergus Falls have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.15%, which ranks in the top 50% nationwide. This equates to an annual average Fergus Falls house appreciation rate of 0.21%.

NeighborhoodScout's data show that during the latest twelve months, Fergus Falls's appreciation rate, at 3.59%, has been at or slightly above the national average. In the latest quarter, Fergus Falls's appreciation rate has been -0.47%, which annualizes to a rate of -1.86%.

Relative to Minnesota, our data show that Fergus Falls's latest annual appreciation rate is lower than 60% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$144,494

Fergus Falls, MN HOME PRICES

Value Range
> $1,107,000 0.0
$830,001 - $1,107,000 0.1
$553,001 - $830,000 1.3
$443,001 - $553,000 1.8
$332,001 - $443,000 3.6
$221,001 - $332,000 17.1
$111,001 - $221,000 40.6
$55,001 - $111,000 30.0
$0 - $55,000 5.5

Low for MN
Average for Nation

Value Relative to Nation Value Relative to State
52.496191257471 70.4312114989733

Number Of Homes And Apartments:
5,916

Fergus Falls 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
36.58% 1.82% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$809 / per month

Homeownership Rate

Homeownership
Owners 57.60
Renters 42.40
Vacant 9.64

Housing Market Details

 

Age of Homes

AGE OF Fergus Falls HOMES
2000 or Newer 10.6
1970 - 1999 32.7
1940 - 1969 34.8
1939 or Older 21.9

Types of Homes

TYPE OF Fergus Falls HOMES
Single-Family 63.6
Townhomes 3.3
Small Apt. Buildings 8.7
Apt. Complexes 22.4
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Fergus Falls HOMES
No Bedroom 0.37
1 Bedroom 19.00
2 Bedrooms 24.22
3 Bedrooms 33.92
4 Bedrooms 17.86
5 or more bedrooms 4.63

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Zip Codes in Fergus Falls, MN