Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 26,208 people, 10,172 houses or apartments, and a median cost of homes of $167,160, house prices in Austin are some of the most affordable in Minnesota as well as the nation.
Single-family detached homes are the single most common housing type in Austin, accounting for 71.01% of the city's housing units. Other types of housing that are prevalent in Austin include large apartment complexes or high rise apartments ( 17.30%), duplexes, homes converted to apartments or other small apartment buildings ( 5.59%), and a few row houses and other attached homes ( 4.39%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Austin. Owner-occupied housing accounts for 66.59% of Austin's homes, and 53.49% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Austin's housing was primarily built during this period, from the '40s through the '60s. A full 48.17% of the city's housing hails from this era. Other housing ages represented in Austin include homes built before 1939 ( 20.82%) and housing constructed between 1970-1999 ( 20.00%). There's also some housing in Austin built between 2000 and later ( 11.02%).
Austin's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Austin during the period has been just 5.68%, which is lower than 70% of US communities.
Over the last year, Austin appreciation rates have trailed the rest of the nation. In the last twelve months, Austin's appreciation rate has been 2.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Austin were at -2.57%, which equates to an annual appreciation rate of -9.89%.
Notably, Austin's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Minnesota, our data show that Austin's latest annual appreciation rate is lower than 80% of the other cities and towns in Minnesota.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Austin differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Austin - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Austin real estate investment or home purchase decisions.
$167,160
for Minnesota
for nation
10,172
$1,350 / per month