The housing market in Medicine Lake, MN is unique compared to the US median values. The median value for a house in Medicine Lake is $1,011,000, which is significantly higher than the US median of $338,100. Despite this high median value, the 1 year appreciation for houses in Medicine Lake is 4.79%, which is lower than the US average of 8.27%. This suggests that while the housing market may be expensive in Medicine Lake, it's not experiencing quite as rapid growth.
The median home cost in Medicine Lake is $1,011,000. Home appreciation the last 10 years has been 89.0%. Home Appreciation in Medicine Lake is up 7.1%.
Average Age of Homes
- The median age of Medicine Lake real estate is 52 years old
The Rental Market in Medicine Lake
- Renters make up 30.1% of the Medicine Lake population
- 2.5% of houses and apartments in Medicine Lake, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.