Mendota Heights, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mendota Heights, MN Real Estate Data


Mendota Heights Housing Market Information

With 11,223 people, 4,528 houses or apartments, and a median cost of homes of $401,994, Mendota Heights house prices are not only among the most expensive in Minnesota, Mendota Heights real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Mendota Heights, accounting for 70.16% of the city's housing units. Other types of housing that are prevalent in Mendota Heights include row houses and other attached homes ( 15.80%), large apartment complexes or high rise apartments ( 12.48%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.56%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mendota Heights. Owner-occupied housing accounts for 88.32% of Mendota Heights's homes, and 64.20% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mendota 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 Mendota Heights built between 1940-1969 ( 26.31%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.68%). There's also some housing in Mendota Heights built before 1939 ( 3.02%).

Mendota Heights Home Appreciation Rates

Real estate appreciation rates in Mendota Heights's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.38% during the period.

Appreciation rates are so strong in Mendota Heights that despite a nationwide downturn in the housing market, Mendota Heights real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mendota Heights appreciation rates continue to be some of the highest in America, at 6.14%, which is higher than appreciation rates in 76.03% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mendota Heights. Mendota Heights appreciation rates in the latest quarter were at 2.70%, which equates to an annual appreciation rate of 11.26%.

Importantly, this makes Mendota 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 Mendota Heights's latest annual appreciation rate is higher than 80% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$401,994

Mendota Heights, MN HOME PRICES

Value Range
> $1,196,000 1.1
$897,001 - $1,196,000 2.8
$598,001 - $897,000 14.4
$479,001 - $598,000 16.6
$359,001 - $479,000 22.6
$239,001 - $359,000 25.2
$120,001 - $239,000 14.2
$60,001 - $120,000 1.5
$0 - $60,000 1.4

Very High for MN
Very High for Nation

Value Relative to Nation Value Relative to State
9.62698366223576 4.72279260780287

Number Of Homes And Apartments:
4,528

Rent & Ownership

 

Average Market Rent:
$1,494 / per month

Homeownership Rate

Homeownership
Owners 88.32
Renters 11.68
Vacant 3.06

Housing Market Details

 

Age of Homes

AGE OF Mendota Heights HOMES
2000 or Newer 9.7
1970 - 1999 61.0
1940 - 1969 26.3
1939 or Older 3.0

Types of Homes

TYPE OF Mendota Heights HOMES
Single-Family 70.2
Townhomes 15.8
Small Apt. Buildings 1.6
Apt. Complexes 12.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Mendota Heights HOMES
No Bedroom 0.15
1 Bedroom 4.80
2 Bedrooms 19.05
3 Bedrooms 36.91
4 Bedrooms 27.30
5 or more bedrooms 11.80

Mendota Heights Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
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
40.54% 2.02% 6 5
* 10 is highest

Popular Neighborhoods in Mendota Heights

Zip Codes in Mendota Heights, MN