Pine City, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Pine City Neighborhoods Since 2000




Pine City, 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

Pine City Housing Market Information

With 3,078 people, 1,408 houses or apartments, and a median cost of homes of $130,906, house prices in Pine City are solidly below the national average.

Single-family detached homes are the single most common housing type in Pine City, accounting for 58.83% of the city's housing units. Other types of housing that are prevalent in Pine City include large apartment complexes or high rise apartments ( 23.33%), row houses and other attached homes ( 6.85%), and a few mobile homes or trailers ( 5.74%).

People in Pine City primarily live in small (one, two or no bedroom) single-family detached homes. Pine City has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Pine City 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 Pine City built between 1940-1969 ( 25.31%). A lesser amount of the housing stock also hails from before 1939 ( 20.56%). There's also some housing in Pine City built between 2000 and later ( 10.12%).

Vacant housing appears to be an issue in Pine City. Fully 13.09% of the housing stock is classified as vacant. Left unchecked, vacant Pine City homes and apartments can be a drag on the real estate market, holding Pine City 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.

Pine City Home Appreciation Rates

Homes have actually lost value in Pine City over the last then years, as home values have seen a decline of 26.42% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Pine City home appreciation rates at -0.47%, which equates to an annual appreciation rate of -1.86%.

NeighborhoodScout's data show that during the latest twelve months, Pine City's appreciation rate, at 5.28%, has been at or slightly above the national average. In the latest quarter, Pine City's appreciation rate has been -0.47%, which annualizes to a rate of -1.86%.

Relative to Minnesota, our data show that Pine City's latest annual appreciation rate is higher than 60% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$130,906

Pine City, MN HOME PRICES

Value Range
> $1,119,000 0.3
$840,001 - $1,119,000 0.0
$559,001 - $840,000 0.0
$448,001 - $559,000 0.5
$336,001 - $448,000 6.5
$224,001 - $336,000 9.1
$112,001 - $224,000 48.8
$56,001 - $112,000 26.5
$0 - $56,000 8.2

Low for MN
Average for Nation

Value Relative to Nation Value Relative to State
59.3636470174616 77.6180698151951

Number Of Homes And Apartments:
1,408

Pine City 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
9.05% 0.50% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$724 / per month

Homeownership Rate

Homeownership
Owners 55.29
Renters 44.71
Vacant 13.09

Housing Market Details

 

Age of Homes

AGE OF Pine City HOMES
2000 or Newer 10.1
1970 - 1999 44.0
1940 - 1969 25.3
1939 or Older 20.6

Types of Homes

TYPE OF Pine City HOMES
Single-Family 58.8
Townhomes 6.9
Small Apt. Buildings 5.2
Apt. Complexes 23.3
Mobile Homes 5.7
Other 0.0

Home Size

SIZE OF Pine City HOMES
No Bedroom 0.00
1 Bedroom 20.93
2 Bedrooms 29.44
3 Bedrooms 29.94
4 Bedrooms 11.91
5 or more bedrooms 7.78

Popular Neighborhoods in Pine City

Zip Codes in Pine City, MN