Chanhassen, MN Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Chanhassen, MN Housing Market Trends

With 26,389 people, 9,419 houses or apartments, and a median cost of homes of $466,701, Chanhassen house prices are not only among the most expensive in Minnesota, Chanhassen 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 Chanhassen, accounting for 69.15% of the city's housing units. Other types of housing that are prevalent in Chanhassen include row houses and other attached homes ( 19.33%), large apartment complexes or high rise apartments ( 9.76%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.68%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Chanhassen. Owner-occupied housing accounts for 88.09% of Chanhassen's homes, and 60.04% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Chanhassen 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 Chanhassen built between 2000 and later ( 26.99%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.39%). There's also some housing in Chanhassen built before 1939 ( 2.65%).

Chanhassen Home Appreciation Rates

Appreciation rates for homes in Chanhassen have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 47.15%, which ranks in the top 50% nationwide. This equates to an annual average Chanhassen house appreciation rate of 3.94%.

Over the last year, Chanhassen appreciation rates have trailed the rest of the nation. In the last twelve months, Chanhassen's appreciation rate has been 6.48%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chanhassen were at 2.34%, which equates to an annual appreciation rate of 9.68%.

Relative to Minnesota, our data show that Chanhassen'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 Chanhassen differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Chanhassen - 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 Chanhassen real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$466,701

Chanhassen, MN HOME PRICES

> $1,164,000
4.3%
4.3%
$873,001 - $1,164,000
5.8%
5.8%
$582,001 - $873,000
20.6%
20.6%
$466,001 - $582,000
15.7%
15.7%
$349,001 - $466,000
21.1%
21.1%
$233,001 - $349,000
20.8%
20.8%
$117,001 - $233,000
10.2%
10.2%
$58,001 - $117,000
1.0%
1.0%
$0 - $58,000
0.6%
0.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for MN

Value Relative To Nation

Number Of Homes And Apartments:
9,419

Chanhassen Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
73.93% 2.61%
5
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,125 / per month

Homeownership Rate

Owners
88.1%
88.1%
Renters
11.9%
11.9%
Vacant
3.2%
3.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
27.0%
27.0%
1970 - 1999
62.0%
62.0%
1940 - 1969
8.4%
8.4%
1939 or Older
2.7%
2.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
69.2%
69.2%
Townhomes
19.3%
19.3%
Small Apt. Buildings
1.7%
1.7%
Apt. Complexes
9.8%
9.8%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
3.7%
3.7%
2 Bedrooms
19.2%
19.2%
3 Bedrooms
27.6%
27.6%
4 Bedrooms
32.5%
32.5%
5 or more bedrooms
16.7%
16.7%
0.0% 100.0%
% OF HOMES