Grand Rapids, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Grand Rapids Neighborhoods Since 2000




Grand Rapids, 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

Grand Rapids Housing Market Information

With a population of 11,127, 4,646 total housing units (homes and apartments), and a median house value of $138,099, house prices in Grand Rapids are solidly below the national average.

Single-family detached homes are the single most common housing type in Grand Rapids, accounting for 66.32% of the city's housing units. Other types of housing that are prevalent in Grand Rapids include large apartment complexes or high rise apartments ( 23.00%), duplexes, homes converted to apartments or other small apartment buildings ( 5.49%), and a few mobile homes or trailers ( 3.08%).

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

There is a lot of housing in Grand Rapids 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 Grand Rapids built between 1940-1969 ( 36.58%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.36%). There's also some housing in Grand Rapids built before 1939 ( 12.95%).

Grand Rapids Home Appreciation Rates

Grand Rapids's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Grand Rapids during the period has been just -0.87%, which is lower than 70% of US communities.

Over the last year, Grand Rapids appreciation rates have trailed the rest of the nation. In the last twelve months, Grand Rapids's appreciation rate has been 1.26%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Grand Rapids were at -0.47%, which equates to an annual appreciation rate of -1.86%.

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

Average Home Values

 

Median Home Value:
$138,099

Grand Rapids, MN HOME PRICES

Value Range
> $1,010,000 0.4
$758,001 - $1,010,000 0.0
$505,001 - $758,000 0.7
$404,001 - $505,000 2.3
$303,001 - $404,000 3.0
$202,001 - $303,000 17.8
$101,001 - $202,000 47.0
$51,001 - $101,000 18.2
$0 - $51,000 10.5

Low for MN
Average for Nation

Value Relative to Nation Value Relative to State
55.7248330012891 74.3326488706365

Number Of Homes And Apartments:
4,646

Grand Rapids 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
37.35% 1.86% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$700 / per month

Homeownership Rate

Homeownership
Owners 54.59
Renters 45.41
Vacant 5.84

Housing Market Details

 

Age of Homes

AGE OF Grand Rapids HOMES
2000 or Newer 13.4
1970 - 1999 37.1
1940 - 1969 36.6
1939 or Older 13.0

Types of Homes

TYPE OF Grand Rapids HOMES
Single-Family 66.3
Townhomes 2.1
Small Apt. Buildings 5.5
Apt. Complexes 23.0
Mobile Homes 3.1
Other 0.0

Home Size

SIZE OF Grand Rapids HOMES
No Bedroom 3.93
1 Bedroom 17.55
2 Bedrooms 33.48
3 Bedrooms 30.79
4 Bedrooms 10.50
5 or more bedrooms 3.75

Popular Neighborhoods in Grand Rapids

Popular Communities Near Grand Rapids, MN

Zip Codes in Grand Rapids, MN