Gilbert, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Gilbert, 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

Gilbert Housing Market Information

With 1,792 people, 836 houses or apartments, and a median cost of homes of $87,511, house prices in Gilbert 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 Gilbert, accounting for 84.69% of the city's housing units. Other types of housing that are prevalent in Gilbert include duplexes, homes converted to apartments or other small apartment buildings ( 8.37%), large apartment complexes or high rise apartments ( 4.19%), and a few mobile homes or trailers ( 2.09%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gilbert. Owner-occupied housing accounts for 79.68% of Gilbert's homes, and 64.10% have either three or four bedrooms, which is average sized relative to America.

The housing in Gilbert was primarily built before 1939 ( 37.11%), making the housing stock in Gilbert some of the oldest overall in America, although there is a range of ages of homes in Gilbert. The next most important housing age is between 1940-1969 ( 37.00%), followed by between 1970-1999 ( 21.81%). There's also some housing in Gilbert built between 2000 and later ( 4.07%).

Gilbert Home Appreciation Rates

Appreciation rates for homes in Gilbert have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.36%, which ranks in the top 50% nationwide. This equates to an annual average Gilbert house appreciation rate of 0.23%.

Over the last year, Gilbert appreciation rates have trailed the rest of the nation. In the last twelve months, Gilbert's appreciation rate has been -5.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gilbert were at 1.03%, which equates to an annual appreciation rate of 4.17%.

Relative to Minnesota, our data show that Gilbert's latest annual appreciation rate is lower than 90% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$87,511

Gilbert, MN HOME PRICES

Value Range
> $1,047,000 0.0
$785,001 - $1,047,000 0.0
$524,001 - $785,000 0.0
$419,001 - $524,000 0.8
$314,001 - $419,000 2.9
$210,001 - $314,000 2.3
$105,001 - $210,000 29.2
$52,001 - $105,000 45.7
$0 - $52,000 19.2

Very Low for MN
Very Low for Nation

Value Relative to Nation Value Relative to State
85.8197585843197 96.9199178644764

Number Of Homes And Apartments:
836

Gilbert 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
35.02% 1.76% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$672 / per month

Homeownership Rate

Homeownership
Owners 79.68
Renters 20.32
Vacant 7.93

Housing Market Details

 

Age of Homes

AGE OF Gilbert HOMES
2000 or Newer 4.1
1970 - 1999 21.8
1940 - 1969 37.0
1939 or Older 37.1

Types of Homes

TYPE OF Gilbert HOMES
Single-Family 84.7
Townhomes 0.7
Small Apt. Buildings 8.4
Apt. Complexes 4.2
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Gilbert HOMES
No Bedroom 0.55
1 Bedroom 4.07
2 Bedrooms 29.85
3 Bedrooms 51.10
4 Bedrooms 13.00
5 or more bedrooms 1.43

Popular Neighborhoods in Gilbert

Popular Communities Near Gilbert, MN

Zip Codes in Gilbert, MN