The housing market in Summit Lake, MN is strong and growing. The median value of homes in the area is $216,000, which is significantly lower than the US median house value of $338,100. Additionally, the one year appreciation rate for homes in Summit Lake is 9.54%, while the national rate stands at 8.27%. This indicates that housing prices are increasing faster in Summit Lake than they are elsewhere in the country. The strong economic growth and rising house values make investments in real estate a great opportunity for those looking to buy or build a home in Summit Lake, MN.
The median home cost in Summit Lake is $216,000. Home appreciation the last 10 years has been 74.6%. Home Appreciation in Summit Lake is up 14.7%.
Average Age of Homes
- The median age of Summit Lake real estate is 64 years old
The Rental Market in Summit Lake
- Renters make up 6.6% of the Summit Lake population
- 0.0% of houses and apartments in Summit 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.