According to statistics, the population in Minneapolis, MN amounts to 425,395, which shows decline 1% compared to the previous year. The median age of the city’s residents is 32. The average household income is $63,590, shifting growth 5% from the past year, and the average property value in Minneapolis, MN growth 8% to $269,500 throughout the year.
|Number Of Employees||243,648|
|Median Property Value||$269,500|
The average household income in Minneapolis, MN grew from $60,789 to $63,590 in the past year. This data is an estimate based upon 175,233 households in Minneapolis, MN . The chart below presents how household income is distributed in Minneapolis, MN in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Minneapolis, MN shifted from $250,400 to $269,500 throughout the year. The subsequent graph indicates the share of properties in the given price range in Minneapolis, MN in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Minneapolis, MN properties falls in the '$300,000 to $399,999' range, which is higher than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Minneapolis, MN compared to median property taxes around the country. The prevalent amount of property taxes in Minneapolis, MN equals $3000, which is less than the national average.
|Apartment Size||Aug||vs Last Month|
|Studio for sale||$153,245||-28%|
|1 bed for sale||$219,858||+3.6%|
|2 bed for sale||$358,720||+16.7%|
|3 bed for sale||$413,246||+5.1%|
|4+ bed for sale||$561,113||+19.3%|
During Aug 2022, the average price for an apartment in/near Minneapolis, MN increased by 11.8% to $420,635.
After collecting all data points, we now see that the average price for 1-bed apartment increased by 3.6% to $219,858. Asking price for 2-bed apartment also increased by 16.7% and a place of this size will now cost you $358,720. A 3-bed apartment goes for $413,246, it increased by 5.1% lately. We discerned the rise of 4- and more bed apartment price. It increased by 19.3% and made it up to $561,113.
|Listing Type||Aug||vs Last Month|
|Townhouses for sale||$451,654||-6.4%|
|Lofts for sale||$385,550||-3.2%|
|Condos for sale||$384,117||+19.7%|
|Houses for sale||$432,792||+12.9%|
|Other for sale||$493,476||+24.2%|
|Land for sale||$306,112||+7.9%|
|Duplexes for sale||$554,900||+136.1%|
Price reports demonstrate that house price increased by 12.9% this month making it up to $432,792. Condos are really in demand in this season. The median price for a condo increased by 19.7%, it’s now available for $384,117. You can now purchase a duplex for just $554,900, duplex price increased by 136.1% this month. The price dynamics of lofts changed, it decreased by 3.2%, the price tag now starts at $385,550. The property value of townhouses decreased by 6.4%, you’ll have to spend around $451,654 to get one.