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 16,672, 7,344 total housing units (homes and apartments), and a median house value of $274,830, Red Wing real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Red Wing, accounting for 57.52% of the city's housing units. Other types of housing that are prevalent in Red Wing include large apartment complexes or high rise apartments ( 18.88%), duplexes, homes converted to apartments or other small apartment buildings ( 11.61%), and a few row houses and other attached homes ( 6.46%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Red Wing. Owner-occupied housing accounts for 68.75% of Red Wing's homes, and 52.46% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Red Wing 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 Red Wing built before 1939 ( 25.47%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.24%). There's also some housing in Red Wing built between 2000 and later ( 13.64%).
Real estate appreciation rates in Red Wing's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.74% during the period.
Over the last year, Red Wing appreciation rates have trailed the rest of the nation. In the last twelve months, Red Wing's appreciation rate has been 4.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Red Wing were at 4.64%, which equates to an annual appreciation rate of 19.89%.
Importantly, this makes Red Wing one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Minnesota, our data show that Red Wing's latest annual appreciation rate is higher than 70% of the other cities and towns in Minnesota.
$274,830
for Minnesota
for nation
7,344
$1,346 / per month