Shorewood, MN Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Shorewood, MN Housing Market Trends

With a population of 8,084, 2,783 total housing units (homes and apartments), and a median house value of $665,380, Shorewood house prices are not only among the most expensive in Minnesota, Shorewood real estate also is some of the most expensive in all of America.

Shorewood is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Shorewood than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Shorewood. Owner-occupied housing accounts for 94.44% of Shorewood's homes, and 70.67% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Shorewood 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 Shorewood built between 1940-1969 ( 20.22%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.53%). There's also some housing in Shorewood built before 1939 ( 11.28%).

Shorewood Home Appreciation Rates

Appreciation rates for homes in Shorewood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 42.07%, which ranks in the top 50% nationwide. This equates to an annual average Shorewood house appreciation rate of 3.57%.

Over the last year, Shorewood appreciation rates have trailed the rest of the nation. In the last twelve months, Shorewood's appreciation rate has been 7.51%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Shorewood were at 2.36%, which equates to an annual appreciation rate of 9.76%.

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

Average Home Values

 

Median Home Value:
$665,380

Shorewood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
80.68% 2.79%
6
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,342 / per month

Homeownership Rate

Owners
94.4%
94.4%
Renters
5.6%
5.6%
Vacant
5.4%
5.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
15.5%
15.5%
1970 - 1999
53.0%
53.0%
1940 - 1969
20.2%
20.2%
1939 or Older
11.3%
11.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
87.5%
87.5%
Townhomes
10.7%
10.7%
Small Apt. Buildings
1.2%
1.2%
Apt. Complexes
0.3%
0.3%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
1.3%
1.3%
2 Bedrooms
10.1%
10.1%
3 Bedrooms
34.0%
34.0%
4 Bedrooms
36.7%
36.7%
5 or more bedrooms
18.0%
18.0%
0.0% 100.0%
% OF HOMES