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 10,482, 4,028 total housing units (homes and apartments), and a median house value of $332,713, Cambridge real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Cambridge, accounting for 61.56% of the city's housing units. Other types of housing that are prevalent in Cambridge include large apartment complexes or high rise apartments ( 17.06%), row houses and other attached homes ( 11.99%), and a few mobile homes or trailers ( 6.14%).
Dwellings in Cambridge tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 51.31% of the homes in Cambridge have two or fewer bedrooms.
Cambridge homes and real estate are some of the newest in America. 38.97% of Cambridge's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Cambridge real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 38.36%), and between 1940-1969 ( 15.98%). There's also some housing in Cambridge built before 1939 ( 6.69%).
Appreciation rates for homes in Cambridge have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 94.95%, which ranks in the top 50% nationwide. This equates to an annual average Cambridge house appreciation rate of 6.90%.
Over the last year, Cambridge appreciation rates have trailed the rest of the nation. In the last twelve months, Cambridge's appreciation rate has been -0.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cambridge were at 2.27%, which equates to an annual appreciation rate of 9.37%.
Relative to Minnesota, our data show that Cambridge's latest annual appreciation rate is lower than 90% of the other cities and towns in Minnesota.
$332,713
for Minnesota
for nation
4,028
$1,768 / per month