St. Louis Park, 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 Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

St. Louis Park, MN Housing Market Trends

With a population of 50,010, 23,774 total housing units (homes and apartments), and a median house value of $378,923, St. Louis Park real estate is some of the most expensive in Minnesota, although St. Louis Park home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in St. Louis Park, accounting for 48.83% of the city's housing units. Other types of housing that are prevalent in St. Louis Park include large apartment complexes or high rise apartments ( 43.25%), row houses and other attached homes ( 5.62%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.11%).

People in St. Louis Park primarily live in small (one, two or no bedroom) single-family detached homes. St. Louis Park has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. St. Louis Park's housing was primarily built during this period, from the '40s through the '60s. A full 48.44% of the city's housing hails from this era. Other housing ages represented in St. Louis Park include homes built between 1970-1999 ( 28.10%) and housing constructed between 2000 and later ( 13.63%). There's also some housing in St. Louis Park built before 1939 ( 9.82%).

St. Louis Park Home Appreciation Rates

Appreciation rates for homes in St. Louis Park have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 75.17%, which ranks in the top 30% nationwide. This equates to an annual average St. Louis Park house appreciation rate of 5.77%.

Over the last year, St. Louis Park appreciation rates have trailed the rest of the nation. In the last twelve months, St. Louis Park's appreciation rate has been 16.92%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in St. Louis Park were at 6.62%, which equates to an annual appreciation rate of 29.20%.

Relative to Minnesota, our data show that St. Louis Park's latest annual appreciation rate is lower than 70% 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 St. Louis Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in St. Louis Park - 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 St. Louis Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$378,923

St. Louis Park, MN HOME PRICES

> $1,298,000
0.6%
0.6%
$974,001 - $1,298,000
2.7%
2.7%
$649,001 - $974,000
11.5%
11.5%
$519,001 - $649,000
8.1%
8.1%
$390,001 - $519,000
23.9%
23.9%
$260,001 - $390,000
35.9%
35.9%
$130,001 - $260,000
15.0%
15.0%
$65,001 - $130,000
1.6%
1.6%
$0 - $65,000
0.7%
0.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for MN

Value Relative To Nation

Number Of Homes And Apartments:
23,774

St. Louis Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
127.43% 3.81%
8
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,956 / per month

Homeownership Rate

Owners
56.9%
56.9%
Renters
43.1%
43.1%
Vacant
3.9%
3.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
13.6%
13.6%
1970 - 1999
28.1%
28.1%
1940 - 1969
48.4%
48.4%
1939 or Older
9.8%
9.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
48.8%
48.8%
Townhomes
5.6%
5.6%
Small Apt. Buildings
2.1%
2.1%
Apt. Complexes
43.3%
43.3%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.0%
3.0%
1 Bedroom
23.6%
23.6%
2 Bedrooms
28.3%
28.3%
3 Bedrooms
28.9%
28.9%
4 Bedrooms
12.8%
12.8%
5 or more bedrooms
3.5%
3.5%
0.0% 100.0%
% OF HOMES