Red Wing, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Red Wing Neighborhoods Since 2000




Red Wing, 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

Red Wing Housing Market Information

With 16,445 people, 7,054 houses or apartments, and a median cost of homes of $173,767, Red Wing 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 Red Wing, accounting for 58.16% of the city's housing units. Other types of housing that are prevalent in Red Wing include large apartment complexes or high rise apartments ( 23.55%), duplexes, homes converted to apartments or other small apartment buildings ( 8.44%), and a few row houses and other attached homes ( 6.01%).

The most prevalent building size and type in Red Wing are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.78% owning and 36.22% renting.

There is a lot of housing in Red Wing 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 Red Wing built between 1940-1969 ( 26.30%). A lesser amount of the housing stock also hails from before 1939 ( 22.24%). There's also some housing in Red Wing built between 2000 and later ( 13.86%).

Red Wing Home Appreciation Rates

Red Wing's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Red Wing during the period has been just -1.18%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Red Wing's appreciation rate, at 4.66%, has been at or slightly above the national average. In the latest quarter, Red Wing's appreciation rate has been -0.47%, which annualizes to a rate of -1.86%.

Relative to Minnesota, our data show that Red Wing's latest annual appreciation rate is higher than 50% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$173,767

Red Wing, MN HOME PRICES

Value Range
> $1,093,000 0.4
$819,001 - $1,093,000 0.0
$546,001 - $819,000 1.3
$437,001 - $546,000 3.2
$328,001 - $437,000 5.1
$219,001 - $328,000 17.0
$109,001 - $219,000 54.3
$55,001 - $109,000 9.4
$0 - $55,000 9.4

Average for MN
Average for Nation

Value Relative to Nation Value Relative to State
40.3257939763272 54.0041067761807

Number Of Homes And Apartments:
7,054

Red Wing 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
19.92% 1.06% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$928 / per month

Homeownership Rate

Homeownership
Owners 63.78
Renters 36.22
Vacant 8.03

Housing Market Details

 

Age of Homes

AGE OF Red Wing HOMES
2000 or Newer 13.9
1970 - 1999 37.6
1940 - 1969 26.3
1939 or Older 22.2

Types of Homes

TYPE OF Red Wing HOMES
Single-Family 58.2
Townhomes 6.0
Small Apt. Buildings 8.4
Apt. Complexes 23.5
Mobile Homes 3.8
Other 0.0

Home Size

SIZE OF Red Wing HOMES
No Bedroom 0.95
1 Bedroom 13.94
2 Bedrooms 33.36
3 Bedrooms 32.43
4 Bedrooms 17.07
5 or more bedrooms 2.26