Housing in Red Lake, MN (56671) is a great investment. The housing median value in the area is $110,200, which is significantly lower than the US median house value of $338,100. In the past year, house appreciation in Red Lake was 15.27%, much higher than the US rate of 8.27%. With such a great appreciation rate, homes in Red Lake are an attractive option for potential buyers looking to get into the housing market at an affordable price point and potentially benefit from good returns on their investment.
The median home cost in Red Lake (zip 56671) is $110,200. Home appreciation the last 10 years has been 68.4%. Home Appreciation in Red Lake (zip 56671) is up 19.7%.
Average Age of Homes
- The median age of Red Lake (zip 56671) real estate is 32 years old
The Rental Market in Red Lake (zip 56671)
- Renters make up 47.9% of the Red Lake (zip 56671) population
- 2.2% of houses and apartments in Red Lake (zip 56671), 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.