Oak Grove, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Oak Grove, 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

Oak Grove Housing Market Information

With 8,439 people, 2,775 houses or apartments, and a median cost of homes of $272,687, Oak Grove real estate is some of the most expensive in Minnesota, although Oak Grove home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Oak Grove, accounting for 96.83% of the city's housing units. Other types of housing that are prevalent in Oak Grove include large apartment complexes or high rise apartments ( 1.67%), row houses and other attached homes ( 1.50%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Oak Grove. Owner-occupied housing accounts for 94.55% of Oak Grove's homes, and 72.79% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Oak Grove 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 Oak Grove built between 2000 and later ( 25.31%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.91%). There's also some housing in Oak Grove built before 1939 ( 3.44%).

Oak Grove Home Appreciation Rates

Oak Grove's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Oak Grove during the period has been just -1.44%, which is lower than 80% of US communities.

Appreciation rates are so strong in Oak Grove that despite a nationwide downturn in the housing market, Oak Grove real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Oak Grove appreciation rates continue to be some of the highest in America, at 7.39%, which is higher than appreciation rates in 83.48% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Oak Grove. Oak Grove appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.89%.

Relative to Minnesota, our data show that Oak Grove's latest annual appreciation rate is higher than 80% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$272,687

Oak Grove, MN HOME PRICES

Value Range
> $1,217,000 0.3
$913,001 - $1,217,000 0.0
$609,001 - $913,000 1.5
$487,001 - $609,000 3.7
$365,001 - $487,000 20.7
$244,001 - $365,000 38.4
$122,001 - $244,000 31.8
$61,001 - $122,000 2.4
$0 - $61,000 1.3

Very High for MN
Very High for Nation

Value Relative to Nation Value Relative to State
19.4538849173796 14.3737166324435

Number Of Homes And Apartments:
2,775

Oak Grove Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
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
28.88% 1.48% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,880 / per month

Homeownership Rate

Homeownership
Owners 94.55
Renters 5.45
Vacant 7.35

Housing Market Details

 

Age of Homes

AGE OF Oak Grove HOMES
2000 or Newer 25.3
1970 - 1999 64.3
1940 - 1969 6.9
1939 or Older 3.4

Types of Homes

TYPE OF Oak Grove HOMES
Single-Family 96.8
Townhomes 1.5
Small Apt. Buildings 0.0
Apt. Complexes 1.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Oak Grove HOMES
No Bedroom 0.93
1 Bedroom 1.84
2 Bedrooms 13.12
3 Bedrooms 35.33
4 Bedrooms 37.46
5 or more bedrooms 11.32

Popular Neighborhoods in Oak Grove

Zip Codes in Oak Grove, MN