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 8,366 people, 3,724 houses or apartments, and a median cost of homes of $322,364, Waite Park real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Waite Park, accounting for 47.45% of the city's housing units. Other types of housing that are prevalent in Waite Park include single-family detached homes ( 40.63%), mobile homes or trailers ( 5.30%), and a few row houses and other attached homes ( 3.91%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
People in Waite Park primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Waite Park has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Waite Park 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 Waite Park built between 2000 and later ( 27.38%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.65%). There's also some housing in Waite Park built before 1939 ( 5.59%).
Real estate appreciation rates in Waite Park's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.24% during the period.
Over the last year, Waite Park appreciation rates have trailed the rest of the nation. In the last twelve months, Waite Park's appreciation rate has been 1.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Waite Park were at 0.49%, which equates to an annual appreciation rate of 1.99%.
Notably, Waite Park's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Minnesota, our data show that Waite Park's latest annual appreciation rate is lower than 80% of the other cities and towns in Minnesota.
$322,364
for Minnesota
for nation
3,724
$1,828 / per month