Pipestone, MN


Highest Appreciating Pipestone Neighborhoods Since 2000

Pipestone, 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

Pipestone Housing Market Information

With 4,141 people, 1,906 houses or apartments, and a median cost of homes of $91,075, house prices in Pipestone are some of the most affordable in Minnesota as well as the nation.

Single-family detached homes are the single most common housing type in Pipestone, accounting for 71.50% of the city's housing units. Other types of housing that are prevalent in Pipestone include large apartment complexes or high rise apartments ( 13.27%), duplexes, homes converted to apartments or other small apartment buildings ( 8.53%), and a few row houses and other attached homes ( 4.13%).

The most prevalent building size and type in Pipestone are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.34% owning and 38.66% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Pipestone's housing was primarily built during this period, from the '40s through the '60s. A full 37.37% of the city's housing hails from this era. Other housing ages represented in Pipestone include homes built before 1939 ( 32.82%) and housing constructed between 1970-1999 ( 21.57%). There's also some housing in Pipestone built between 2000 and later ( 8.25%).

Vacant housing appears to be an issue in Pipestone. Fully 10.64% of the housing stock is classified as vacant. Left unchecked, vacant Pipestone homes and apartments can be a drag on the real estate market, holding Pipestone 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.

Pipestone Home Appreciation Rates

In the last 10 years, Pipestone has experienced some of the highest home appreciation rates of any community in the nation. Pipestone real estate appreciated 25.80% over the last ten years, which is an average annual home appreciation rate of 2.32%, putting Pipestone in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pipestone definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Pipestone that despite a nationwide downturn in the housing market, Pipestone real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pipestone appreciation rates continue to be some of the highest in America, at 11.38%, which is higher than appreciation rates in 96.57% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pipestone. Pipestone appreciation rates in the latest quarter were at -0.47%, which equates to an annual appreciation rate of -1.86%.

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

Average Home Values


Median Home Value:


Value Range
> $1,172,000 0.0
$879,001 - $1,172,000 0.0
$586,001 - $879,000 0.0
$469,001 - $586,000 0.3
$351,001 - $469,000 0.2
$235,001 - $351,000 8.1
$117,001 - $235,000 27.5
$58,001 - $117,000 37.0
$0 - $58,000 26.9

Very Low for MN
Very Low for Nation

Value Relative to Nation Value Relative to State
83.2415328723778 94.2505133470226

Number Of Homes And Apartments:

Pipestone Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
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
50.45% 2.40% 7 6
* 10 is highest

Rent & Ownership


Average Market Rent:
$590 / per month

Homeownership Rate

Owners 61.34
Renters 38.66
Vacant 10.64

Housing Market Details


Age of Homes

AGE OF Pipestone HOMES
2000 or Newer 8.3
1970 - 1999 21.6
1940 - 1969 37.4
1939 or Older 32.8

Types of Homes

Single-Family 71.5
Townhomes 4.1
Small Apt. Buildings 8.5
Apt. Complexes 13.3
Mobile Homes 2.3
Other 0.3

Home Size

No Bedroom 0.89
1 Bedroom 14.49
2 Bedrooms 32.30
3 Bedrooms 33.05
4 Bedrooms 15.89
5 or more bedrooms 3.38

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