Thief River Falls, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Thief River Falls, 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

Thief River Falls Housing Market Information

With 8,752 people, 3,931 houses or apartments, and a median cost of homes of $128,648, house prices in Thief River Falls are solidly below the national average.

Single-family detached homes are the single most common housing type in Thief River Falls, accounting for 61.58% of the city's housing units. Other types of housing that are prevalent in Thief River Falls include large apartment complexes or high rise apartments ( 17.69%), mobile homes or trailers ( 11.34%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.63%).

The most prevalent building size and type in Thief River Falls are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.73% owning and 35.27% renting.

There is a lot of housing in Thief River Falls 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 Thief River Falls built between 1940-1969 ( 29.87%). A lesser amount of the housing stock also hails from before 1939 ( 24.19%). There's also some housing in Thief River Falls built between 2000 and later ( 7.78%).

Thief River Falls Home Appreciation Rates

In the last 10 years, Thief River Falls has experienced some of the highest home appreciation rates of any community in the nation. Thief River Falls real estate appreciated 27.04% over the last ten years, which is an average annual home appreciation rate of 2.42%, putting Thief River Falls in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Thief River Falls definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Thief River Falls appreciation rates have trailed the rest of the nation. In the last twelve months, Thief River Falls's appreciation rate has been 0.93%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Thief River Falls were at -0.47%, which equates to an annual appreciation rate of -1.86%.

Relative to Minnesota, our data show that Thief River Falls's latest annual appreciation rate is lower than 90% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$128,648

Thief River Falls, MN HOME PRICES

Value Range
> $1,165,000 0.3
$873,001 - $1,165,000 0.0
$582,001 - $873,000 0.3
$466,001 - $582,000 0.7
$349,001 - $466,000 1.4
$233,001 - $349,000 10.1
$117,001 - $233,000 41.2
$58,001 - $117,000 26.2
$0 - $58,000 19.7

Low for MN
Low for Nation

Value Relative to Nation Value Relative to State
60.6058830423063 79.0554414784394

Number Of Homes And Apartments:
3,931

Thief River Falls 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
77.69% 3.39% 10 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$690 / per month

Homeownership Rate

Homeownership
Owners 64.73
Renters 35.27
Vacant 5.37

Housing Market Details

 

Age of Homes

AGE OF Thief River Falls HOMES
2000 or Newer 7.8
1970 - 1999 38.2
1940 - 1969 29.9
1939 or Older 24.2

Types of Homes

TYPE OF Thief River Falls HOMES
Single-Family 61.6
Townhomes 1.8
Small Apt. Buildings 7.6
Apt. Complexes 17.7
Mobile Homes 11.3
Other 0.0

Home Size

SIZE OF Thief River Falls HOMES
No Bedroom 2.07
1 Bedroom 15.05
2 Bedrooms 29.97
3 Bedrooms 35.48
4 Bedrooms 15.29
5 or more bedrooms 2.14

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Zip Codes in Thief River Falls, MN