Inver Grove Heights, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Inver Grove Heights, 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

Inver Grove Heights Housing Market Information

With a population of 34,857, 13,681 total housing units (homes and apartments), and a median house value of $237,287, 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 47.83% of the city's housing units. Other types of housing that are prevalent in Inver Grove Heights include row houses and other attached homes ( 22.22%), large apartment complexes or high rise apartments ( 20.65%), and a few mobile homes or trailers ( 6.00%).

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 69.27% of Inver Grove Heights's homes, and 51.50% 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 ( 19.30%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.28%). There's also some housing in Inver Grove Heights built before 1939 ( 2.95%).

Inver Grove Heights Home Appreciation Rates

Inver Grove Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Inver Grove Heights during the period has been just -1.14%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Inver Grove Heights's appreciation rate, at 5.16%, has been at or slightly above the national average. In the latest quarter, Inver Grove Heights's appreciation rate has been 1.44%, which annualizes to a rate of 5.89%.

Relative to Minnesota, our data show that Inver Grove Heights's latest annual appreciation rate is higher than 60% 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:
$237,287

Inver Grove Heights, MN HOME PRICES

Value Range
> $1,169,000 2.4
$877,001 - $1,169,000 2.0
$585,001 - $877,000 5.4
$467,001 - $585,000 7.4
$350,001 - $467,000 14.9
$234,001 - $350,000 25.3
$117,001 - $234,000 33.0
$58,001 - $117,000 4.7
$0 - $58,000 4.9

High for MN
High for Nation

Value Relative to Nation Value Relative to State
24.592757529591 22.9979466119097

Number Of Homes And Apartments:
13,681

Inver Grove Heights 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
32.73% 1.65% 4 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,315 / per month

Homeownership Rate

Homeownership
Owners 69.27
Renters 30.73
Vacant 2.37

Housing Market Details

 

Age of Homes

AGE OF Inver Grove Heights HOMES
2000 or Newer 19.3
1970 - 1999 61.5
1940 - 1969 16.3
1939 or Older 3.0

Types of Homes

TYPE OF Inver Grove Heights HOMES
Single-Family 47.8
Townhomes 22.2
Small Apt. Buildings 3.3
Apt. Complexes 20.7
Mobile Homes 6.0
Other 0.0

Home Size

SIZE OF Inver Grove Heights HOMES
No Bedroom 0.62
1 Bedroom 8.46
2 Bedrooms 34.38
3 Bedrooms 32.20
4 Bedrooms 19.30
5 or more bedrooms 5.05