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 2,152 people, 899 houses or apartments, and a median cost of homes of $293,164, Aitkin 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 Aitkin, accounting for 57.58% of the city's housing units. Other types of housing that are prevalent in Aitkin include large apartment complexes or high rise apartments ( 30.34%), duplexes, homes converted to apartments or other small apartment buildings ( 10.58%).
People in Aitkin primarily live in small (one, two or no bedroom) single-family detached homes. Aitkin has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Aitkin 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 Aitkin built before 1939 ( 26.69%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.88%). There's also some housing in Aitkin built between 2000 and later ( 16.95%).
Vacant housing appears to be an issue in Aitkin. Fully 15.82% of the housing stock is classified as vacant. Left unchecked, vacant Aitkin homes and apartments can be a drag on the real estate market, holding Aitkin real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Aitkin have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 99.98%, which ranks in the top 40% nationwide. This equates to an annual average Aitkin house appreciation rate of 7.18%.
Appreciation rates are so strong in Aitkin that despite a nationwide downturn in the housing market, Aitkin real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Aitkin appreciation rates continue to be some of the highest in America, at 8.85%, which is higher than appreciation rates in 71.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Aitkin. Aitkin appreciation rates in the latest quarter were at 2.49%, which equates to an annual appreciation rate of 10.32%.
Relative to Minnesota, our data show that Aitkin's latest annual appreciation rate is higher than 90% of the other cities and towns in Minnesota.
$293,164
for Minnesota
for nation
899
$1,266 / per month