Median price for residential apartments in Babbitt, MN as of Nov, 2022.
Take into account that the price depends on the location and condition of the apartment. The size and amenities might have a large influence on the asking price as well.
15 Babbitt, MN, USA apartments for sale
Babbitt
According to statistics, the population in Babbitt, MN amounts to 1,496, which shows decline -5% compared to the previous year. The median age of the city’s residents is 52. The average household income is $42,417, shifting decline 0% from the past year, and the average property value in Babbitt, MN growth 1% to $69,800 throughout the year.
| Population | 1,496 |
| Median Age | 52 |
| Poverty Rate | 12% |
| Household Income | $42,417 |
| Number Of Employees | 656 |
| Median Property Value | $69,800 |
Household Income
The average household income in Babbitt, MN grew from $42,321 to $42,417 in the past year. This data is an estimate based upon 766 households in Babbitt, MN . The chart below presents how household income is distributed in Babbitt, MN in comparison to the revenue allocation amid households nationally.
Property Value
According to data from last year, the average property value in Babbitt, MN shifted from $69,000 to $69,800 throughout the year. The subsequent graph indicates the share of properties in the given price range in Babbitt, MN in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Babbitt, MN properties falls in the '$50,000 to $59,999' range, which is lower than the most significant median property across the country.
Rent vs. Own
Property Taxes
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Babbitt, MN compared to median property taxes around the country. The prevalent amount of property taxes in Babbitt, MN equals $800, which is less than the national average.
Housing Trends
How much does an apartment cost in Babbitt, MN, USA
Average apartment sale in Babbitt: $121,573 (+15.6%)
| Apartment Size | Nov | vs Last Month |
|---|---|---|
| Studio apartments | $16,000 | N/A |
| 2-bed apartments | $107,877 | +0.3% |
| 3-bed apartments | $134,360 | -25.3% |
| 4+ bed apartments | $295,000 | N/A |
During Nov 2022, the average price for an apartment in/near Babbitt, MN increased by 15.6% to $121,573.
Asking price for 2-bed apartment also increased by 0.3% and a place of this size will now cost you $107,877. A 3-bed apartment goes for $134,360, it decreased by 25.3% lately. According to statistics, we now see that the 4- and more bed apartments pricing stays the same, so you can still face an estimate price around $295,000 for a big-family home.
| Listing Type | Nov | vs Last Month |
|---|---|---|
| Houses for sale | $121,573 | +3.1% |
| Land for sale | $16,000 | N/A |
Price reports demonstrate that house price increased by 3.1% this month making it up to $121,573.