Shakopee MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Shakopee, 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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Shakopee Housing Market Information

With 40,893 people, 12,889 houses or apartments, and a median cost of homes of $310,260, Shakopee real estate is some of the most expensive in Minnesota, although Shakopee home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Shakopee, accounting for 58.61% of the city's housing units. Other types of housing that are prevalent in Shakopee include row houses and other attached homes ( 26.28%), large apartment complexes or high rise apartments ( 12.36%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.51%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Shakopee. Owner-occupied housing accounts for 73.52% of Shakopee's homes, and 58.41% have either three or four bedrooms, which is average sized relative to America.

Shakopee homes and real estate are some of the newest in America. 44.40% of Shakopee's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Shakopee real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 39.86%), and between 1940-1969 ( 11.09%). There's also some housing in Shakopee built before 1939 ( 4.65%).

Shakopee Home Appreciation Rates

Appreciation rates for homes in Shakopee have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 17.18%, which ranks in the top 50% nationwide. This equates to an annual average Shakopee house appreciation rate of 1.60%.

Over the last year, Shakopee appreciation rates have trailed the rest of the nation. In the last twelve months, Shakopee's appreciation rate has been 1.60%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Shakopee were at 1.35%, which equates to an annual appreciation rate of 5.49%.

Relative to Minnesota, our data show that Shakopee's latest annual appreciation rate is lower than 60% of the other cities and towns in Minnesota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Shakopee differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Shakopee - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Shakopee real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$310,260

Shakopee, MN HOME PRICES

Value Range
> $1,196,000 0.3
$897,001 - $1,196,000 0.5
$598,001 - $897,000 2.3
$479,001 - $598,000 7.3
$358,001 - $479,000 16.6
$239,001 - $358,000 31.4
$119,001 - $239,000 36.2
$60,001 - $119,000 1.3
$0 - $60,000 4.0

Very High for MN
Very High for Nation

Value Relative to Nation Value Relative to State
18.5693430656934 13.1416837782341

Number Of Homes And Apartments:
12,889

Shakopee Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
43.66% 1.88%
3
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,649 / per month

Homeownership Rate

Homeownership
Owners 73.52
Renters 26.48
Vacant 3.92

Housing Market Details

 

Age of Homes

AGE OF Shakopee HOMES
2000 or Newer 44.4
1970 - 1999 39.9
1940 - 1969 11.1
1939 or Older 4.7

Types of Homes

TYPE OF Shakopee HOMES
Single-Family 58.6
Townhomes 26.3
Small Apt. Buildings 2.5
Apt. Complexes 12.4
Mobile Homes 0.0
Other 0.2

Home Size

SIZE OF Shakopee HOMES
No Bedroom 0.34
1 Bedroom 6.11
2 Bedrooms 24.73
3 Bedrooms 28.57
4 Bedrooms 29.84
5 or more bedrooms 10.41