Inver Grove Heights, MN


Highest Appreciating Inver Grove Heights Neighborhoods Since 2000

Inver Grove Heights, MN Real Estate Data

Inver Grove Heights Housing Market Information

With a population of 34,857, 13,640 total housing units (homes and apartments), and a median house value of $290,293, Inver Grove Heights real estate is some of the most expensive in Minnesota, although Inver Grove Heights home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Inver Grove Heights, accounting for 47.89% of the city's housing units. Other types of housing that are prevalent in Inver Grove Heights include row houses and other attached homes ( 21.93%), large apartment complexes or high rise apartments ( 20.93%), and a few mobile homes or trailers ( 6.51%).

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 70.48% of Inver Grove Heights's homes, and 50.63% 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 ( 18.59%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.43%). There's also some housing in Inver Grove Heights built before 1939 ( 2.44%).

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 -0.91%, 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 5.51%, has been at or slightly above the national average. In the latest quarter, Inver Grove Heights's appreciation rate has been 2.70%, which annualizes to a rate of 11.26%.

Importantly, this makes Inver Grove Heights one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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:

Inver Grove Heights, MN HOME PRICES

Value Range
> $1,196,000 2.1
$897,001 - $1,196,000 2.3
$598,001 - $897,000 5.0
$478,001 - $598,000 7.4
$359,001 - $478,000 13.6
$239,001 - $359,000 25.1
$119,001 - $239,000 32.6
$60,001 - $119,000 5.0
$0 - $60,000 7.0

Very High for MN
Very High for Nation

Value Relative to Nation Value Relative to State
17.8719915676056 12.3203285420945

Number Of Homes And Apartments:

Rent & Ownership


Average Market Rent:
$1,442 / per month

Homeownership Rate

Owners 70.48
Renters 29.52
Vacant 2.83

Housing Market Details


Age of Homes

AGE OF Inver Grove Heights HOMES
2000 or Newer 18.6
1970 - 1999 62.5
1940 - 1969 16.4
1939 or Older 2.4

Types of Homes

TYPE OF Inver Grove Heights HOMES
Single-Family 47.9
Townhomes 21.9
Small Apt. Buildings 2.7
Apt. Complexes 20.9
Mobile Homes 6.5
Other 0.0

Home Size

SIZE OF Inver Grove Heights HOMES
No Bedroom 0.69
1 Bedroom 8.31
2 Bedrooms 35.24
3 Bedrooms 32.91
4 Bedrooms 17.72
5 or more bedrooms 5.14

Inver Grove Heights Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
34.41% 1.75% 4 4
* 10 is highest