Northfield, MN


Highest Appreciating Northfield Neighborhoods Since 2000

Northfield, 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

Northfield Housing Market Information

With a population of 20,380, 6,287 total housing units (homes and apartments), and a median house value of $223,953, Northfield real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Northfield, accounting for 54.56% of the city's housing units. Other types of housing that are prevalent in Northfield include large apartment complexes or high rise apartments ( 23.41%), row houses and other attached homes ( 15.27%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.46%).

The most prevalent building size and type in Northfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.47% owning and 51.53% renting.

There is a lot of housing in Northfield 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 Northfield built between 2000 and later ( 23.95%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.06%). There's also some housing in Northfield built before 1939 ( 15.03%).

Northfield Home Appreciation Rates

Northfield's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Northfield during the period has been just -1.01%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Northfield's appreciation rate, at 4.51%, has been at or slightly above the national average. In the latest quarter, Northfield's appreciation rate has been -0.36%, which annualizes to a rate of -1.45%.

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

Average Home Values


Median Home Value:

Northfield, MN HOME PRICES

Value Range
> $1,166,000 0.2
$874,001 - $1,166,000 0.0
$583,001 - $874,000 0.9
$466,001 - $583,000 3.6
$350,001 - $466,000 8.3
$233,001 - $350,000 31.3
$117,001 - $233,000 47.2
$58,001 - $117,000 5.4
$0 - $58,000 3.0

High for MN
High for Nation

Value Relative to Nation Value Relative to State
26.9776163131372 28.5420944558522

Number Of Homes And Apartments:

Northfield 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
25.82% 1.34% 2 3
* 10 is highest

Rent & Ownership


Average Market Rent:
$849 / per month

Homeownership Rate

Owners 48.47
Renters 51.53
Vacant 7.44

Housing Market Details


Age of Homes

AGE OF Northfield HOMES
2000 or Newer 24.0
1970 - 1999 43.9
1940 - 1969 17.1
1939 or Older 15.0

Types of Homes

TYPE OF Northfield HOMES
Single-Family 54.6
Townhomes 15.3
Small Apt. Buildings 5.5
Apt. Complexes 23.4
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Northfield HOMES
No Bedroom 1.83
1 Bedroom 13.53
2 Bedrooms 28.00
3 Bedrooms 29.43
4 Bedrooms 21.23
5 or more bedrooms 5.98