Minneapolis, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Minneapolis, 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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Minneapolis Housing Market Information

With 422,331 people, 172,082 houses or apartments, and a median cost of homes of $276,686, Minneapolis real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Minneapolis, accounting for 42.93% of the city's housing units. Other types of housing that are prevalent in Minneapolis include large apartment complexes or high rise apartments ( 39.84%), duplexes, homes converted to apartments or other small apartment buildings ( 13.14%), and a few row houses and other attached homes ( 3.90%).

People in Minneapolis primarily live in small (one, two or no bedroom) single-family detached homes. Minneapolis has a mixture of owner-occupied and renter-occupied housing.

The housing in Minneapolis was primarily built before 1939 ( 45.77%), making the housing stock in Minneapolis some of the oldest overall in America, although there is a range of ages of homes in Minneapolis. The next most important housing age is between 1940-1969 ( 24.82%), followed by between 1970-1999 ( 18.71%). There's also some housing in Minneapolis built between 2000 and later ( 10.71%).

Minneapolis Home Appreciation Rates

Appreciation rates for homes in Minneapolis have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 33.13%, which ranks in the top 30% nationwide. This equates to an annual average Minneapolis house appreciation rate of 2.90%.

Over the last year, Minneapolis appreciation rates have trailed the rest of the nation. In the last twelve months, Minneapolis's appreciation rate has been 2.19%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Minneapolis were at 1.35%, which equates to an annual appreciation rate of 5.49%.

Relative to Minnesota, our data show that Minneapolis's latest annual appreciation rate is lower than 50% 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 Minneapolis differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Minneapolis - 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 Minneapolis real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$276,686

Minneapolis, MN HOME PRICES

Value Range
> $1,247,000 1.2
$935,001 - $1,247,000 1.6
$624,001 - $935,000 5.7
$499,001 - $624,000 5.5
$374,001 - $499,000 12.7
$250,001 - $374,000 26.9
$125,001 - $250,000 36.0
$62,001 - $125,000 7.9
$0 - $62,000 2.5

High for MN
High for Nation

Value Relative to Nation Value Relative to State
22.6102189781022 20.1232032854209

Number Of Homes And Apartments:
172,082

Minneapolis Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
76.28% 2.95%
8
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,339 / per month

Homeownership Rate

Homeownership
Owners 45.27
Renters 54.73
Vacant 6.14

Housing Market Details

 

Age of Homes

AGE OF Minneapolis HOMES
2000 or Newer 10.7
1970 - 1999 18.7
1940 - 1969 24.8
1939 or Older 45.8

Types of Homes

TYPE OF Minneapolis HOMES
Single-Family 42.9
Townhomes 3.9
Small Apt. Buildings 13.1
Apt. Complexes 39.8
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Minneapolis HOMES
No Bedroom 6.43
1 Bedroom 26.53
2 Bedrooms 28.94
3 Bedrooms 24.95
4 Bedrooms 10.22
5 or more bedrooms 2.93