Oak Park Heights, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Oak Park Heights Neighborhoods Since 2000




Oak Park Heights, 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 Park Heights Housing Market Information

With 4,831 people, 2,094 houses or apartments, and a median cost of homes of $234,401, Oak Park Heights real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Oak Park Heights, accounting for 44.81% of the city's housing units. Other types of housing that are prevalent in Oak Park Heights include single-family detached homes ( 36.33%), row houses and other attached homes ( 14.23%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.63%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Oak Park Heights primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Oak Park Heights has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Oak Park Heights 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 Park Heights built between 2000 and later ( 24.26%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.14%). There's also some housing in Oak Park Heights built before 1939 ( 3.55%).

Oak Park Heights Home Appreciation Rates

Oak Park Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Oak Park Heights during the period has been just -0.91%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Oak Park Heights's appreciation rate, at 4.37%, has been at or slightly above the national average. In the latest quarter, Oak Park Heights's appreciation rate has been 1.44%, which annualizes to a rate of 5.89%.

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

Average Home Values

 

Median Home Value:
$234,401

Oak Park Heights, MN HOME PRICES

Value Range
> $1,139,000 1.5
$854,001 - $1,139,000 1.3
$570,001 - $854,000 9.1
$456,001 - $570,000 7.7
$342,001 - $456,000 13.7
$228,001 - $342,000 30.5
$114,001 - $228,000 27.6
$57,001 - $114,000 5.0
$0 - $57,000 3.6

High for MN
High for Nation

Value Relative to Nation Value Relative to State
24.9912105941638 24.2299794661191

Number Of Homes And Apartments:
2,094

Oak Park Heights 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
30.22% 1.54% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$996 / per month

Homeownership Rate

Homeownership
Owners 41.96
Renters 58.04
Vacant 9.43

Housing Market Details

 

Age of Homes

AGE OF Oak Park Heights HOMES
2000 or Newer 24.3
1970 - 1999 58.0
1940 - 1969 14.1
1939 or Older 3.5

Types of Homes

TYPE OF Oak Park Heights HOMES
Single-Family 36.3
Townhomes 14.2
Small Apt. Buildings 4.6
Apt. Complexes 44.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Oak Park Heights HOMES
No Bedroom 4.93
1 Bedroom 24.65
2 Bedrooms 30.84
3 Bedrooms 23.44
4 Bedrooms 12.15
5 or more bedrooms 3.98

Popular Neighborhoods in Oak Park Heights

Zip Codes in Oak Park Heights, MN