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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.



Litchfield, 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

Litchfield, MN Housing Market Trends

With 6,602 people, 2,816 houses or apartments, and a median cost of homes of $235,016, house prices in Litchfield are solidly below the national average.

Single-family detached homes are the single most common housing type in Litchfield, accounting for 68.92% of the city's housing units. Other types of housing that are prevalent in Litchfield include large apartment complexes or high rise apartments ( 14.81%), duplexes, homes converted to apartments or other small apartment buildings ( 5.71%), and a few mobile homes or trailers ( 5.41%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Litchfield. Owner-occupied housing accounts for 69.15% of Litchfield's homes, and 53.29% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Litchfield 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 Litchfield built between 1940-1969 ( 33.82%). A lesser amount of the housing stock also hails from before 1939 ( 15.66%). There's also some housing in Litchfield built between 2000 and later ( 8.48%).

Litchfield Home Appreciation Rates

Appreciation rates for homes in Litchfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 82.39%, which ranks in the top 50% nationwide. This equates to an annual average Litchfield house appreciation rate of 6.19%.

Over the last year, Litchfield appreciation rates have trailed the rest of the nation. In the last twelve months, Litchfield's appreciation rate has been 3.81%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Litchfield were at -0.63%, which equates to an annual appreciation rate of -2.49%.

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

Relative to Minnesota, our data show that Litchfield's latest annual appreciation rate is lower than 60% of the other cities and towns in Minnesota.

Average Home Values

Median Home Value

$235,016

Litchfield, MN Home Prices
> $1,331,000
$998,001 - $1,331,000
$665,001 - $998,000
$532,001 - $665,000
$399,001 - $532,000
$266,001 - $399,000
$133,001 - $266,000
$67,001 - $133,000
$0 - $67,000
0.0%
0.0%
0.6%
0.6%
3.4%
3.4%
0.5%
0.5%
6.5%
6.5%
24.8%
24.8%
44.7%
44.7%
8.9%
8.9%
10.6%
10.6%
0% 100.0%
% of Homes
Low

for Minnesota

Average

for nation

Number of Homes And Apartments:

2,816

Litchfield Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,288 / per month

Homeownership Rate

Owners
Renters
69.2%
69.2%
30.8%
30.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.2%
8.2%
91.8%
91.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.5%
8.5%
42.0%
42.0%
33.8%
33.8%
15.7%
15.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
68.9%
68.9%
5.2%
5.2%
5.7%
5.7%
14.8%
14.8%
5.4%
5.4%
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
3.2%
3.2%
12.2%
12.2%
26.1%
26.1%
35.7%
35.7%
17.6%
17.6%
5.2%
5.2%
0% 100.0%
% of Homes

Popular Neighborhoods in Litchfield

Zip Codes in Litchfield, MN