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 47,370 people, 20,278 houses or apartments, and a median cost of homes of $213,192, Minot real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Minot, accounting for 45.80% of the city's housing units. Other types of housing that are prevalent in Minot include large apartment complexes or high rise apartments ( 27.46%), duplexes, homes converted to apartments or other small apartment buildings ( 11.83%), and a few mobile homes or trailers ( 7.71%).
People in Minot primarily live in small (one, two or no bedroom) single-family detached homes. Minot has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Minot 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 Minot built between 2000 and later ( 32.67%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.47%). There's also some housing in Minot built before 1939 ( 8.47%).
Vacant housing appears to be an issue in Minot. Fully 15.78% of the housing stock is classified as vacant. Left unchecked, vacant Minot homes and apartments can be a drag on the real estate market, holding Minot real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Minot have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 36.71%, which ranks in the top 40% nationwide. This equates to an annual average Minot house appreciation rate of 3.18%.
Over the last year, Minot appreciation rates have trailed the rest of the nation. In the last twelve months, Minot's appreciation rate has been 0.53%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Minot were at -0.39%, which equates to an annual appreciation rate of -1.55%.
Notably, Minot's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Dakota, our data show that Minot's latest annual appreciation rate is lower than 90% of the other cities and towns in North Dakota.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Minot differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Minot - 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 Minot real estate investment or home purchase decisions.
|$773,001 - $1,029,000||0.0|
|$515,001 - $773,000||1.1|
|$412,001 - $515,000||3.5|
|$309,001 - $412,000||12.2|
|$206,001 - $309,000||32.1|
|$103,001 - $206,000||34.9|
|$52,001 - $103,000||6.8|
|$0 - $52,000||9.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
2000 Q1 - 2020 Q2
|* 10 is highest|
|AGE OF Minot HOMES|
|2000 or Newer||32.7|
|1970 - 1999||34.4|
|1940 - 1969||24.5|
|1939 or Older||8.5|
|TYPE OF Minot HOMES|
|Small Apt. Buildings||11.8|
|SIZE OF Minot HOMES|
|5 or more bedrooms||6.68|