Shakopee, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Shakopee Neighborhoods Since 2000




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 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

Shakopee Housing Market Information

With 39,981 people, 13,090 houses or apartments, and a median cost of homes of $262,496, Shakopee real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Shakopee, accounting for 56.23% of the city's housing units. Other types of housing that are prevalent in Shakopee include row houses and other attached homes ( 29.10%), large apartment complexes or high rise apartments ( 12.42%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.83%).

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 74.44% of Shakopee's homes, and 60.11% 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. 44.02% 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 ( 42.13%), and between 1940-1969 ( 9.81%). There's also some housing in Shakopee built before 1939 ( 4.04%).

Shakopee Home Appreciation Rates

Shakopee's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Shakopee during the period has been just -1.16%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Shakopee's appreciation rate, at 5.30%, has been at or slightly above the national average. In the latest quarter, Shakopee's appreciation rate has been 1.44%, which annualizes to a rate of 5.89%.

Relative to Minnesota, our data show that Shakopee's latest annual appreciation rate is higher 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:
$262,496

Shakopee, MN HOME PRICES

Value Range
> $1,177,000 0.1
$882,001 - $1,177,000 0.0
$588,001 - $882,000 1.3
$471,001 - $588,000 4.7
$353,001 - $471,000 13.9
$236,001 - $353,000 30.9
$118,001 - $236,000 42.3
$59,001 - $118,000 3.8
$0 - $59,000 3.1

Very High for MN
High for Nation

Value Relative to Nation Value Relative to State
20.7195593577874 16.6324435318275

Number Of Homes And Apartments:
13,090

Shakopee 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
28.38% 1.46% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,569 / per month

Homeownership Rate

Homeownership
Owners 74.44
Renters 25.56
Vacant 3.79

Housing Market Details

 

Age of Homes

AGE OF Shakopee HOMES
2000 or Newer 44.0
1970 - 1999 42.1
1940 - 1969 9.8
1939 or Older 4.0

Types of Homes

TYPE OF Shakopee HOMES
Single-Family 56.2
Townhomes 29.1
Small Apt. Buildings 1.8
Apt. Complexes 12.4
Mobile Homes 0.3
Other 0.1

Home Size

SIZE OF Shakopee HOMES
No Bedroom 0.14
1 Bedroom 6.53
2 Bedrooms 25.47
3 Bedrooms 31.10
4 Bedrooms 29.01
5 or more bedrooms 7.75