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 41,033, 13,194 total housing units (homes and apartments), and a median house value of $443,573, Cottage Grove real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Cottage Grove, accounting for 82.38% of the city's housing units. Other types of housing that are prevalent in Cottage Grove include row houses and other attached homes ( 10.82%), large apartment complexes or high rise apartments ( 4.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.46%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cottage Grove. Owner-occupied housing accounts for 87.89% of Cottage Grove's homes, and 72.85% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Cottage Grove built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Cottage Grove built between 2000 and later ( 24.77%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.64%).
Real estate appreciation rates in Cottage Grove's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.78% during the period.
Over the last year, Cottage Grove appreciation rates have trailed the rest of the nation. In the last twelve months, Cottage Grove's appreciation rate has been 1.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cottage Grove were at 2.27%, which equates to an annual appreciation rate of 9.37%.
Relative to Minnesota, our data show that Cottage Grove'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 Cottage Grove differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cottage Grove - 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 Cottage Grove real estate investment or home purchase decisions.
$443,573
for Minnesota
for nation
13,194
$2,581 / per month