Minnesota State has a median housing value of $309,500 which is slightly lower than the national median of $338,100. However, the one year appreciation rate for homes in Minnesota is only 4.88%, which is significantly lower than the 8.27% national appreciation rate. This indicates that home prices in Minnesota have not risen as quickly as those across the rest of the country, making it a great state for potential new homeowners who are looking for more affordable options.
The median home cost in Minnesota is $309,500. Home appreciation the last 10 years has been 84.5%. Home Appreciation in Minnesota is up 10.8%.
Average Age of Homes
- The median age of Minnesota real estate is 41 years old
The Rental Market in Minnesota
- Renters make up 25.0% of the Minnesota population
- 1.3% of houses and apartments in Minnesota, 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.