Minneapolis, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Minneapolis, MN Real Estate Data


Minneapolis Housing Market Information

With a population of 410,939, 168,385 total housing units (homes and apartments), and a median house value of $228,338, 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 43.91% of the city's housing units. Other types of housing that are prevalent in Minneapolis include large apartment complexes or high rise apartments ( 38.73%), duplexes, homes converted to apartments or other small apartment buildings ( 13.33%), and a few row houses and other attached homes ( 3.83%).

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 ( 46.94%), 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 ( 25.14%), followed by between 1970-1999 ( 19.24%). There's also some housing in Minneapolis built between 2000 and later ( 8.69%).

Minneapolis Home Appreciation Rates

Real estate appreciation rates in Minneapolis's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.33% during the period.

Appreciation rates are so strong in Minneapolis that despite a nationwide downturn in the housing market, Minneapolis real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Minneapolis appreciation rates continue to be some of the highest in America, at 6.05%, which is higher than appreciation rates in 73.42% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Minneapolis. Minneapolis appreciation rates in the latest quarter were at 0.73%, which equates to an annual appreciation rate of 2.94%.

Relative to Minnesota, our data show that Minneapolis's latest annual appreciation rate is higher than 80% 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:
$228,338

Minneapolis, MN HOME PRICES

Value Range
> $1,182,000 0.7
$887,001 - $1,182,000 1.5
$591,001 - $887,000 4.0
$473,001 - $591,000 4.4
$355,001 - $473,000 10.7
$236,001 - $355,000 25.1
$118,001 - $236,000 40.4
$59,001 - $118,000 9.5
$0 - $59,000 3.1

High for MN
High for Nation

Value Relative to Nation Value Relative to State
25.8349935544357 25.8726899383984

Number Of Homes And Apartments:
168,385

Rent & Ownership

 

Average Market Rent:
$1,150 / per month

Homeownership Rate

Homeownership
Owners 45.88
Renters 54.12
Vacant 6.96

Housing Market Details

 

Age of Homes

AGE OF Minneapolis HOMES
2000 or Newer 8.7
1970 - 1999 19.2
1940 - 1969 25.1
1939 or Older 46.9

Types of Homes

TYPE OF Minneapolis HOMES
Single-Family 43.9
Townhomes 3.8
Small Apt. Buildings 13.3
Apt. Complexes 38.7
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Minneapolis HOMES
No Bedroom 6.04
1 Bedroom 25.69
2 Bedrooms 29.84
3 Bedrooms 25.57
4 Bedrooms 9.87
5 or more bedrooms 2.98

Minneapolis Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
52.37% 2.47% 8 7
* 10 is highest