Perham, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Perham, 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

Perham Housing Market Information

With a population of 3,278, 1,383 total housing units (homes and apartments), and a median house value of $178,835, Perham real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Perham, accounting for 66.71% of the city's housing units. Other types of housing that are prevalent in Perham include large apartment complexes or high rise apartments ( 20.43%), mobile homes or trailers ( 5.77%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.35%).

The most prevalent building size and type in Perham are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.21% owning and 39.79% renting.

There is a lot of housing in Perham 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 Perham built between 2000 and later ( 21.26%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.04%). There's also some housing in Perham built before 1939 ( 9.45%).

Perham Home Appreciation Rates

Appreciation rates for homes in Perham have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.17%, which ranks in the top 50% nationwide. This equates to an annual average Perham house appreciation rate of 0.41%.

Over the last year, Perham appreciation rates have trailed the rest of the nation. In the last twelve months, Perham's appreciation rate has been 1.47%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Perham were at -0.47%, which equates to an annual appreciation rate of -1.86%.

Relative to Minnesota, our data show that Perham's latest annual appreciation rate is lower than 90% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$178,835

Perham, MN HOME PRICES

Value Range
> $1,081,000 0.3
$810,001 - $1,081,000 0.3
$540,001 - $810,000 2.4
$432,001 - $540,000 2.8
$324,001 - $432,000 6.8
$216,001 - $324,000 25.0
$108,001 - $216,000 40.3
$54,001 - $108,000 13.4
$0 - $54,000 8.8

Average for MN
High for Nation

Value Relative to Nation Value Relative to State
38.5327551857494 51.3347022587269

Number Of Homes And Apartments:
1,383

Perham 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
49.02% 2.34% 7 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$845 / per month

Homeownership Rate

Homeownership
Owners 60.21
Renters 39.79
Vacant 3.89

Housing Market Details

 

Age of Homes

AGE OF Perham HOMES
2000 or Newer 21.3
1970 - 1999 50.2
1940 - 1969 19.0
1939 or Older 9.5

Types of Homes

TYPE OF Perham HOMES
Single-Family 66.7
Townhomes 1.7
Small Apt. Buildings 5.4
Apt. Complexes 20.4
Mobile Homes 5.8
Other 0.0

Home Size

SIZE OF Perham HOMES
No Bedroom 0.00
1 Bedroom 16.61
2 Bedrooms 27.38
3 Bedrooms 27.31
4 Bedrooms 20.64
5 or more bedrooms 8.06

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Zip Codes in Perham, MN