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 403, 145 total housing units (homes and apartments), and a median house value of $239,965, house prices in Bigfork are solidly below the national average.
Single-family detached homes are the single most common housing type in Bigfork, accounting for 45.05% of the city's housing units. Other types of housing that are prevalent in Bigfork include large apartment complexes or high rise apartments ( 34.07%), mobile homes or trailers ( 11.54%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.69%).
Bigfork is dominated by renter-occupied one, two, or no bedrooms apartments. 71.67% of Bigfork's dwellings are rentals.
There is a lot of housing in Bigfork 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 Bigfork built between 2000 and later ( 29.12%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.43%). There's also some housing in Bigfork built before 1939 ( 9.34%).
Vacant housing appears to be an issue in Bigfork. Fully 20.33% of the housing stock is classified as vacant. Left unchecked, vacant Bigfork homes and apartments can be a drag on the real estate market, holding Bigfork 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 Bigfork have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.29%, which ranks in the top 50% nationwide. This equates to an annual average Bigfork house appreciation rate of 6.53%.
Over the last year, Bigfork appreciation rates have trailed the rest of the nation. In the last twelve months, Bigfork's appreciation rate has been 4.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bigfork were at 4.64%, which equates to an annual appreciation rate of 19.89%.
Importantly, this makes Bigfork 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 Bigfork's latest annual appreciation rate is higher than 60% of the other cities and towns in Minnesota.
$239,965
for Minnesota
for nation
145
$1,666 / per month