With a population of 4,831, 1,992 total housing units (homes and apartments), and a median house value of $321,602, Oak Park Heights house prices are not only among the most expensive in Minnesota, Oak Park Heights real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Oak Park Heights, accounting for 44.62% of the city's housing units. Other types of housing that are prevalent in Oak Park Heights include single-family detached homes ( 36.55%), row houses and other attached homes ( 12.83%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.01%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which 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 ( 19.73%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.58%). There's also some housing in Oak Park Heights built before 1939 ( 2.87%).
Vacant housing appears to be an issue in Oak Park Heights. Fully 10.67% of the housing stock is classified as vacant. Left unchecked, vacant Oak Park Heights homes and apartments can be a drag on the real estate market, holding Oak Park Heights 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.
Real estate appreciation rates in Oak Park Heights's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.53% during the period.
NeighborhoodScout's data show that during the latest twelve months, Oak Park Heights's appreciation rate, at 5.55%, has been at or slightly above the national average. In the latest quarter, Oak Park Heights's appreciation rate has been 2.70%, which annualizes to a rate of 11.26%.
Importantly, this makes Oak Park Heights one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Minnesota, our data show that Oak Park Heights's latest annual appreciation rate is higher than 60% of the other cities and towns in Minnesota.
|$888,001 - $1,184,000||2.0|
|$592,001 - $888,000||7.9|
|$474,001 - $592,000||9.3|
|$356,001 - $474,000||12.9|
|$237,001 - $356,000||32.3|
|$119,001 - $237,000||27.3|
|$59,001 - $119,000||3.7|
|$0 - $59,000||3.3|
|Value Relative to Nation||Value Relative to State|
|AGE OF Oak Park Heights HOMES|
|2000 or Newer||19.7|
|1970 - 1999||59.8|
|1940 - 1969||17.6|
|1939 or Older||2.9|
|TYPE OF Oak Park Heights HOMES|
|Small Apt. Buildings||6.0|
|SIZE OF Oak Park Heights HOMES|
|5 or more bedrooms||3.14|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
2000 Q1 - 2016 Q3
|* 10 is highest|