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'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.
|$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|
|Value Relative to Nation||Value Relative to State|
|AGE OF Inver Grove Heights HOMES|
|2000 or Newer||18.6|
|1970 - 1999||62.5|
|1940 - 1969||16.4|
|1939 or Older||2.4|
|TYPE OF Inver Grove Heights HOMES|
|Small Apt. Buildings||2.7|
|SIZE OF Inver Grove Heights HOMES|
|5 or more bedrooms||5.14|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2016 Q3
|* 10 is highest|