Frazee, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Frazee, 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

Frazee Housing Market Information

With 1,371 people, 544 houses or apartments, and a median cost of homes of $182,598, Frazee real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Frazee, accounting for 60.46% of the city's housing units. Other types of housing that are prevalent in Frazee include mobile homes or trailers ( 15.03%), large apartment complexes or high rise apartments ( 10.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.80%).

People in Frazee primarily live in small (one, two or no bedroom) single-family detached homes. Frazee has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Frazee built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Frazee built between 1940-1969 ( 31.05%). A lesser amount of the housing stock also hails from before 1939 ( 27.45%). There's also some housing in Frazee built between 2000 and later ( 8.17%).

Vacant housing appears to be an issue in Frazee. Fully 11.11% of the housing stock is classified as vacant. Left unchecked, vacant Frazee homes and apartments can be a drag on the real estate market, holding Frazee 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.

Frazee Home Appreciation Rates

Appreciation rates for homes in Frazee have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.86%, which ranks in the top 40% nationwide. This equates to an annual average Frazee house appreciation rate of 0.57%.

Over the last year, Frazee appreciation rates have trailed the rest of the nation. In the last twelve months, Frazee's appreciation rate has been 1.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Frazee were at -0.47%, which equates to an annual appreciation rate of -1.86%.

Relative to Minnesota, our data show that Frazee's latest annual appreciation rate is lower than 80% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$182,598

Frazee, MN HOME PRICES

Value Range
> $1,096,000 0.4
$822,001 - $1,096,000 0.0
$548,001 - $822,000 1.1
$438,001 - $548,000 2.9
$329,001 - $438,000 10.3
$219,001 - $329,000 22.5
$109,001 - $219,000 38.2
$55,001 - $109,000 13.8
$0 - $55,000 10.7

Average for MN
High for Nation

Value Relative to Nation Value Relative to State
37.2670807453416 47.6386036960986

Number Of Homes And Apartments:
544

Frazee 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
71.59% 3.18% 10 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$792 / per month

Homeownership Rate

Homeownership
Owners 60.46
Renters 39.54
Vacant 11.11

Housing Market Details

 

Age of Homes

AGE OF Frazee HOMES
2000 or Newer 8.2
1970 - 1999 33.3
1940 - 1969 31.0
1939 or Older 27.5

Types of Homes

TYPE OF Frazee HOMES
Single-Family 60.5
Townhomes 4.6
Small Apt. Buildings 9.8
Apt. Complexes 10.1
Mobile Homes 15.0
Other 0.0

Home Size

SIZE OF Frazee HOMES
No Bedroom 1.31
1 Bedroom 10.29
2 Bedrooms 37.75
3 Bedrooms 38.24
4 Bedrooms 8.33
5 or more bedrooms 4.08

Popular Neighborhoods in Frazee

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Zip Codes in Frazee, MN