Redwood Falls, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Redwood Falls Neighborhoods Since 2000




Redwood Falls, 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

Redwood Falls Housing Market Information

With 5,061 people, 2,178 houses or apartments, and a median cost of homes of $124,528, 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 67.97% of the city's housing units. Other types of housing that are prevalent in Redwood Falls include large apartment complexes or high rise apartments ( 16.01%), mobile homes or trailers ( 6.15%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.63%).

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 67.98% of Redwood Falls's homes, and 54.59% 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 ( 28.12%). A lesser amount of the housing stock also hails from before 1939 ( 25.20%). There's also some housing in Redwood Falls built between 2000 and later ( 6.27%).

Vacant housing appears to be an issue in Redwood Falls. Fully 13.02% of the housing stock is classified as vacant. Left unchecked, vacant Redwood Falls homes and apartments can be a drag on the real estate market, holding Redwood Falls 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.

Redwood Falls Home Appreciation Rates

Real estate appreciation rates in Redwood Falls's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.03% during the period.

Over the last year, Redwood Falls appreciation rates have trailed the rest of the nation. In the last twelve months, Redwood Falls's appreciation rate has been 0.41%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Redwood Falls were at -0.47%, which equates to an annual appreciation rate of -1.86%.

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

Average Home Values

 

Median Home Value:
$124,528

Redwood Falls, MN HOME PRICES

Value Range
> $1,040,000 0.3
$780,001 - $1,040,000 0.0
$520,001 - $780,000 0.8
$416,001 - $520,000 1.4
$312,001 - $416,000 4.1
$208,001 - $312,000 5.5
$104,001 - $208,000 35.9
$52,001 - $104,000 36.3
$0 - $52,000 15.7

Very Low for MN
Low for Nation

Value Relative to Nation Value Relative to State
62.7944450955115 81.1088295687885

Number Of Homes And Apartments:
2,178

Redwood Falls 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
23.04% 1.21% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$766 / per month

Homeownership Rate

Homeownership
Owners 67.98
Renters 32.02
Vacant 13.02

Housing Market Details

 

Age of Homes

AGE OF Redwood Falls HOMES
2000 or Newer 6.3
1970 - 1999 40.4
1940 - 1969 28.1
1939 or Older 25.2

Types of Homes

TYPE OF Redwood Falls HOMES
Single-Family 68.0
Townhomes 4.2
Small Apt. Buildings 5.6
Apt. Complexes 16.0
Mobile Homes 6.2
Other 0.0

Home Size

SIZE OF Redwood Falls HOMES
No Bedroom 1.32
1 Bedroom 9.46
2 Bedrooms 28.15
3 Bedrooms 33.27
4 Bedrooms 21.33
5 or more bedrooms 6.47

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Zip Codes in Redwood Falls, MN