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 a population of 52,437, 22,609 total housing units (homes and apartments), and a median house value of $710,818, Edina house prices are not only among the most expensive in Minnesota, Edina real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Edina, accounting for 54.35% of the city's housing units. Other types of housing that are prevalent in Edina include large apartment complexes or high rise apartments ( 38.57%), row houses and other attached homes ( 5.34%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.52%).
Dwellings in Edina tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 44.20% of the homes in Edina have two or fewer bedrooms.
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. Edina's housing was primarily built during this period, from the '40s through the '60s. A full 41.47% of the city's housing hails from this era. Other housing ages represented in Edina include homes built between 1970-1999 ( 36.48%) and housing constructed between 2000 and later ( 13.85%). There's also some housing in Edina built before 1939 ( 8.20%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Edina, where house values have increased just 54.08%, which is annualized rate of 4.42%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Edina appreciation rates have trailed the rest of the nation. In the last twelve months, Edina's appreciation rate has been 2.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Edina were at 2.27%, which equates to an annual appreciation rate of 9.37%.
Relative to Minnesota, our data show that Edina's latest annual appreciation rate is lower than 60% 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 Edina differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Edina - 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 Edina real estate investment or home purchase decisions.
$710,818
for Minnesota
for nation
22,609
$2,455 / per month