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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 6,473, 2,742 total housing units (homes and apartments), and a median house value of $188,994, Spring Lake Park real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Spring Lake Park, accounting for 60.82% of the city's housing units. Other types of housing that are prevalent in Spring Lake Park include large apartment complexes or high rise apartments ( 18.84%), row houses and other attached homes ( 10.45%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.82%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Spring Lake Park. Owner-occupied housing accounts for 71.75% of Spring Lake Park's homes, and 52.02% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Spring Lake Park 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 Spring Lake Park built between 1940-1969 ( 45.32%). A lesser amount of the housing stock also hails from between 2000 and later ( 5.51%). There's also some housing in Spring Lake Park built before 1939 ( 1.75%).
Spring Lake Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Spring Lake Park during the period has been just -1.65%, which is lower than 80% of US communities.
Appreciation rates are so strong in Spring Lake Park that despite a nationwide downturn in the housing market, Spring Lake Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Spring Lake Park appreciation rates continue to be some of the highest in America, at 6.74%, which is higher than appreciation rates in 79.57% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Spring Lake Park. Spring Lake Park appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.89%.
Relative to Minnesota, our data show that Spring Lake Park's latest annual appreciation rate is higher than 80% of the other cities and towns in Minnesota.
|$908,001 - $1,212,000||0.0|
|$606,001 - $908,000||0.0|
|$485,001 - $606,000||0.5|
|$363,001 - $485,000||1.6|
|$242,001 - $363,000||16.1|
|$121,001 - $242,000||67.4|
|$61,001 - $121,000||5.3|
|$0 - $61,000||9.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Spring Lake Park HOMES|
|2000 or Newer||5.5|
|1970 - 1999||47.4|
|1940 - 1969||45.3|
|1939 or Older||1.8|
|TYPE OF Spring Lake Park HOMES|
|Small Apt. Buildings||5.8|
|SIZE OF Spring Lake Park HOMES|
|5 or more bedrooms||4.10|