Red Lake, MN has seen a significant increase in the median housing value over the past year. The median housing value in Red Lake is currently $228,000, which is substantially lower than the US median housing value of $338,100. Despite this discrepancy, the 1 year appreciation rate of house values in Red Lake is 15.27%, nearly double that of the US average of 8.27%. This growth of house values indicates that Red Lake may be a good investment opportunity for potential buyers and sellers alike.
The median home cost in Red Lake is $228,000. Home appreciation the last 10 years has been 68.4%. Home Appreciation in Red Lake is up 19.7%.
Average Age of Homes
- The median age of Red Lake real estate is 34 years old
The Rental Market in Red Lake
- Renters make up 55.5% of the Red Lake population
- 4.0% of houses and apartments in Red 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.