St. Louis Park, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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St. Louis Park, 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

St. Louis Park Housing Market Information

With 48,171 people, 22,367 houses or apartments, and a median cost of homes of $250,270, St. Louis 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 St. Louis Park, accounting for 48.39% 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 ( 43.66%), row houses and other attached homes ( 5.69%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.16%).

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 51.62% of the city's housing hails from this era. Other housing ages represented in St. Louis Park include homes built between 1970-1999 ( 29.72%) and housing constructed between 2000 and later ( 10.91%). There's also some housing in St. Louis Park built before 1939 ( 7.75%).

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 3.81%, which ranks in the top 50% nationwide. This equates to an annual average St. Louis Park house appreciation rate of 0.38%.

NeighborhoodScout's data show that during the latest twelve months, St. Louis Park's appreciation rate, at 4.97%, has been at or slightly above the national average. In the latest quarter, St. Louis Park's appreciation rate has been 1.44%, which annualizes to a rate of 5.89%.

Relative to Minnesota, our data show that St. Louis Park'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 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:
$250,270

St. Louis Park, MN HOME PRICES

Value Range
> $1,169,000 0.3
$877,001 - $1,169,000 1.0
$585,001 - $877,000 4.5
$468,001 - $585,000 6.1
$351,001 - $468,000 13.4
$234,001 - $351,000 39.1
$117,001 - $234,000 28.5
$58,001 - $117,000 4.9
$0 - $58,000 2.2

High for MN
High for Nation

Value Relative to Nation Value Relative to State
22.4891597328021 20.5338809034908

Number Of Homes And Apartments:
22,367

St. Louis Park 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
59.68% 2.75% 9 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,225 / per month

Homeownership Rate

Homeownership
Owners 55.90
Renters 44.10
Vacant 5.37

Housing Market Details

 

Age of Homes

AGE OF St. Louis Park HOMES
2000 or Newer 10.9
1970 - 1999 29.7
1940 - 1969 51.6
1939 or Older 7.8

Types of Homes

TYPE OF St. Louis Park HOMES
Single-Family 48.4
Townhomes 5.7
Small Apt. Buildings 2.2
Apt. Complexes 43.7
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF St. Louis Park HOMES
No Bedroom 2.31
1 Bedroom 24.33
2 Bedrooms 31.75
3 Bedrooms 27.61
4 Bedrooms 11.66
5 or more bedrooms 2.35