Redwood Falls, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Redwood Falls, MN Real Estate Data


Redwood Falls Housing Market Information

With a population of 5,061, 2,248 total housing units (homes and apartments), and a median house value of $128,271, house prices in Redwood Falls are solidly below the national average.

Single-family detached homes are the single most common housing type in Redwood Falls, accounting for 71.75% of the city's housing units. Other types of housing that are prevalent in Redwood Falls include large apartment complexes or high rise apartments ( 13.18%), duplexes, homes converted to apartments or other small apartment buildings ( 6.35%), and a few mobile homes or trailers ( 4.49%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Redwood Falls. Owner-occupied housing accounts for 69.99% of Redwood Falls's homes, and 54.20% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Redwood Falls 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 Redwood Falls built between 1940-1969 ( 27.85%). A lesser amount of the housing stock also hails from before 1939 ( 25.83%). There's also some housing in Redwood Falls built between 2000 and later ( 5.13%).

Redwood Falls Home Appreciation Rates

Appreciation rates for homes in Redwood Falls have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.28%, which ranks in the top 40% nationwide. This equates to an annual average Redwood Falls house appreciation rate of 0.80%.

NeighborhoodScout's data show that during the latest twelve months, Redwood Falls's appreciation rate, at 5.13%, has been at or slightly above the national average. In the latest quarter, Redwood Falls's appreciation rate has been 1.73%, which annualizes to a rate of 7.09%.

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

Average Home Values

 

Median Home Value:
$128,271

Redwood Falls, MN HOME PRICES

Value Range
> $1,202,000 0.3
$902,001 - $1,202,000 0.0
$601,001 - $902,000 0.7
$481,001 - $601,000 1.2
$361,001 - $481,000 3.7
$240,001 - $361,000 5.9
$120,001 - $240,000 33.5
$61,001 - $120,000 35.4
$0 - $61,000 19.4

Very Low for MN
Low for Nation

Value Relative to Nation Value Relative to State
61.7672893365345 81.1088295687885

Number Of Homes And Apartments:
2,248

Rent & Ownership

 

Average Market Rent:
$922 / per month

Homeownership Rate

Homeownership
Owners 69.99
Renters 30.01
Vacant 9.14

Housing Market Details

 

Age of Homes

AGE OF Redwood Falls HOMES
2000 or Newer 5.1
1970 - 1999 41.2
1940 - 1969 27.8
1939 or Older 25.8

Types of Homes

TYPE OF Redwood Falls HOMES
Single-Family 71.7
Townhomes 4.2
Small Apt. Buildings 6.3
Apt. Complexes 13.2
Mobile Homes 4.5
Other 0.0

Home Size

SIZE OF Redwood Falls HOMES
No Bedroom 1.58
1 Bedroom 7.68
2 Bedrooms 31.53
3 Bedrooms 34.96
4 Bedrooms 19.24
5 or more bedrooms 5.01

Redwood Falls Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
35.09% 1.79% 4 4
* 10 is highest

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