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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Inver Grove Heights, MN Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Inver Grove Heights, MN Housing Market Trends

With 35,701 people, 14,723 houses or apartments, and a median cost of homes of $395,342, Inver Grove Heights real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Inver Grove Heights, accounting for 51.57% of the city's housing units. Other types of housing that are prevalent in Inver Grove Heights include row houses and other attached homes ( 21.34%), large apartment complexes or high rise apartments ( 19.80%), and a few mobile homes or trailers ( 4.62%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Inver Grove Heights. Owner-occupied housing accounts for 73.26% of Inver Grove Heights's homes, and 52.49% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Inver Grove Heights 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 Inver Grove Heights built between 2000 and later ( 23.76%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.80%). There's also some housing in Inver Grove Heights built before 1939 ( 1.75%).

Inver Grove Heights Home Appreciation Rates

Real estate appreciation rates in Inver Grove Heights's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.54% during the period.

Over the last year, Inver Grove Heights appreciation rates have trailed the rest of the nation. In the last twelve months, Inver Grove Heights's appreciation rate has been 1.95%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Inver Grove Heights were at -2.13%, which equates to an annual appreciation rate of -8.26%.

Notably, Inver Grove Heights's appreciation rate in the latest quarter is one of the lowest in America.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Inver Grove Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Inver Grove Heights - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Inver Grove Heights real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$395,342

Inver Grove Heights, MN Home Prices
> $1,230,000
$922,001 - $1,230,000
$615,001 - $922,000
$492,001 - $615,000
$369,001 - $492,000
$246,001 - $369,000
$123,001 - $246,000
$62,001 - $123,000
$0 - $62,000
3.2%
3.2%
6.2%
6.2%
15.7%
15.7%
17.4%
17.4%
22.0%
22.0%
23.5%
23.5%
8.8%
8.8%
0.9%
0.9%
2.3%
2.3%
0% 100.0%
% of Homes
High

for Minnesota

High

for nation

Number of Homes And Apartments:

14,723

Inver Grove Heights Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,889 / per month

Homeownership Rate

Owners
Renters
73.3%
73.3%
26.7%
26.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
2.4%
2.4%
97.6%
97.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
23.8%
23.8%
57.7%
57.7%
16.8%
16.8%
1.8%
1.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
51.6%
51.6%
21.3%
21.3%
2.7%
2.7%
19.8%
19.8%
4.6%
4.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.2%
1.2%
7.9%
7.9%
31.6%
31.6%
29.4%
29.4%
23.1%
23.1%
6.9%
6.9%
0% 100.0%
% of Homes