Montevideo, MN


Highest Appreciating Montevideo Neighborhoods Since 2000

Montevideo, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Montevideo Housing Market Information

With a population of 5,217, 2,324 total housing units (homes and apartments), and a median house value of $99,560, house prices in Montevideo are solidly below the national average.

Single-family detached homes are the single most common housing type in Montevideo, accounting for 69.19% of the city's housing units. Other types of housing that are prevalent in Montevideo include large apartment complexes or high rise apartments ( 15.92%), duplexes, homes converted to apartments or other small apartment buildings ( 8.61%), and a few row houses and other attached homes ( 3.25%).

The most prevalent building size and type in Montevideo are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.25% owning and 39.75% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Montevideo's housing was primarily built during this period, from the '40s through the '60s. A full 45.92% of the city's housing hails from this era. Other housing ages represented in Montevideo include homes built between 1970-1999 ( 27.06%) and housing constructed before 1939 ( 24.07%). There's also some housing in Montevideo built between 2000 and later ( 2.95%).

Vacant housing appears to be an issue in Montevideo. Fully 11.06% of the housing stock is classified as vacant. Left unchecked, vacant Montevideo homes and apartments can be a drag on the real estate market, holding Montevideo real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Montevideo Home Appreciation Rates

Appreciation rates for homes in Montevideo have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.75%, which ranks in the top 40% nationwide. This equates to an annual average Montevideo house appreciation rate of 0.65%.

NeighborhoodScout's data show that during the latest twelve months, Montevideo's appreciation rate, at 4.05%, has been at or slightly above the national average. In the latest quarter, Montevideo's appreciation rate has been -0.47%, which annualizes to a rate of -1.86%.

Relative to Minnesota, our data show that Montevideo's latest annual appreciation rate is lower than 50% of the other cities and towns in Minnesota.

Average Home Values


Median Home Value:

Montevideo, MN HOME PRICES

Value Range
> $1,081,000 0.0
$810,001 - $1,081,000 0.0
$541,001 - $810,000 0.0
$432,001 - $541,000 0.0
$324,001 - $432,000 0.5
$216,001 - $324,000 10.1
$108,001 - $216,000 32.7
$54,001 - $108,000 46.2
$0 - $54,000 10.6

Very Low for MN
Low for Nation

Value Relative to Nation Value Relative to State
77.8213992734091 91.170431211499

Number Of Homes And Apartments:

Montevideo Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
34.48% 1.73% 4 4
* 10 is highest

Rent & Ownership


Average Market Rent:
$736 / per month

Homeownership Rate

Owners 60.25
Renters 39.75
Vacant 11.06

Housing Market Details


Age of Homes

AGE OF Montevideo HOMES
2000 or Newer 2.9
1970 - 1999 27.1
1940 - 1969 45.9
1939 or Older 24.1

Types of Homes

TYPE OF Montevideo HOMES
Single-Family 69.2
Townhomes 3.3
Small Apt. Buildings 8.6
Apt. Complexes 15.9
Mobile Homes 3.0
Other 0.0

Home Size

SIZE OF Montevideo HOMES
No Bedroom 1.99
1 Bedroom 9.91
2 Bedrooms 34.94
3 Bedrooms 43.59
4 Bedrooms 8.46
5 or more bedrooms 1.11

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Zip Codes in Montevideo, MN