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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Pine City, MN Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Pine City, MN Housing Market Trends

With a population of 3,438, 1,479 total housing units (homes and apartments), and a median house value of $257,294, Pine City real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Pine City, accounting for 62.93% of the city's housing units. Other types of housing that are prevalent in Pine City include large apartment complexes or high rise apartments ( 23.55%), row houses and other attached homes ( 5.49%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.43%).

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 ( 22.96%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.06%). There's also some housing in Pine City built before 1939 ( 15.11%).

Vacant housing appears to be an issue in Pine City. Fully 12.69% 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

Appreciation rates for homes in Pine City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 104.78%, which ranks in the top 30% nationwide. This equates to an annual average Pine City house appreciation rate of 7.43%.

Over the last year, Pine City appreciation rates have trailed the rest of the nation. In the last twelve months, Pine City's appreciation rate has been 3.81%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pine City were at -0.63%, which equates to an annual appreciation rate of -2.49%.

Notably, Pine City's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Minnesota, our data show that Pine City's latest annual appreciation rate is higher than 70% of the other cities and towns in Minnesota.

Average Home Values

Median Home Value

$257,294

Pine City, MN Home Prices
> $1,312,000
$984,001 - $1,312,000
$656,001 - $984,000
$525,001 - $656,000
$393,001 - $525,000
$262,001 - $393,000
$131,001 - $262,000
$66,001 - $131,000
$0 - $66,000
0.0%
0.0%
1.3%
1.3%
3.9%
3.9%
5.2%
5.2%
12.8%
12.8%
20.8%
20.8%
46.6%
46.6%
5.8%
5.8%
3.7%
3.7%
0% 100.0%
% of Homes
Low

for Minnesota

Average

for nation

Number of Homes And Apartments:

1,479

Pine City Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,016 / per month

Homeownership Rate

Owners
Renters
63.4%
63.4%
36.6%
36.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
12.7%
12.7%
87.3%
87.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.1%
17.1%
44.9%
44.9%
23.0%
23.0%
15.1%
15.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.9%
62.9%
5.5%
5.5%
5.4%
5.4%
23.6%
23.6%
2.6%
2.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.0%
3.0%
14.0%
14.0%
36.7%
36.7%
37.0%
37.0%
6.0%
6.0%
3.3%
3.3%
0% 100.0%
% of Homes

Popular Neighborhoods in Pine City

Zip Codes in Pine City, MN