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




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Thief River Falls, MN Real Estate Data


Thief River Falls Housing Market Information

With a population of 8,752, 3,820 total housing units (homes and apartments), and a median house value of $132,277, 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 61.11% 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 ( 18.69%), mobile homes or trailers ( 11.28%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.19%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Thief River Falls. Owner-occupied housing accounts for 65.16% of Thief River Falls's homes, and 51.46% have either three or four bedrooms, which is average sized relative to America.

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 ( 29.29%). A lesser amount of the housing stock also hails from before 1939 ( 23.83%). There's also some housing in Thief River Falls built between 2000 and later ( 9.28%).

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 40.37% over the last ten years, which is an average annual home appreciation rate of 3.45%, 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.

Appreciation rates are so strong in Thief River Falls that despite a nationwide downturn in the housing market, Thief River Falls real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Thief River Falls appreciation rates continue to be some of the highest in America, at 5.82%, which is higher than appreciation rates in 71.66% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Thief River Falls. Thief River Falls appreciation rates in the latest quarter were at 1.73%, which equates to an annual appreciation rate of 7.09%.

Relative to Minnesota, our data show that Thief River Falls's latest annual appreciation rate is higher than 70% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$132,277

Thief River Falls, MN HOME PRICES

Value Range
> $1,286,000 0.3
$965,001 - $1,286,000 0.0
$643,001 - $965,000 0.3
$514,001 - $643,000 0.8
$385,001 - $514,000 1.1
$257,001 - $385,000 9.5
$128,001 - $257,000 40.5
$64,001 - $128,000 26.3
$0 - $64,000 21.2

Low for MN
Average for Nation

Value Relative to Nation Value Relative to State
59.5479299642794 77.6180698151951

Number Of Homes And Apartments:
3,820

Rent & Ownership

 

Average Market Rent:
$679 / per month

Homeownership Rate

Homeownership
Owners 65.16
Renters 34.84
Vacant 6.92

Housing Market Details

 

Age of Homes

AGE OF Thief River Falls HOMES
2000 or Newer 9.3
1970 - 1999 37.6
1940 - 1969 29.3
1939 or Older 23.8

Types of Homes

TYPE OF Thief River Falls HOMES
Single-Family 61.1
Townhomes 1.7
Small Apt. Buildings 7.2
Apt. Complexes 18.7
Mobile Homes 11.3
Other 0.0

Home Size

SIZE OF Thief River Falls HOMES
No Bedroom 2.14
1 Bedroom 15.55
2 Bedrooms 28.19
3 Bedrooms 35.48
4 Bedrooms 15.98
5 or more bedrooms 2.66

Thief River Falls Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
86.63% 3.74% 10 9
* 10 is highest

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Zip Codes in Thief River Falls, MN