Richfield, MN 55423 - Real Estate Investment Insights & Performance Data

Welcome to our 55423 real estate data hub, tailored for investors in Richfield, MN. We aim to provide valuable insights, empowering you to make well-informed decisions in this unique market.

Explore essential data such as home prices, rental rates, and appreciation trends specific to 55423 in Richfield, MN. Discover Section 8 housing opportunities and challenges to maximize your investment potential in HENNEPIN COUNTY.

Leverage our comprehensive, zip code-specific data to excel in Richfield, MN real estate investing. Uncover the wealth of information available, and position yourself for success in the Richfield property market.

• Location Overview

  • Zip Code: 55423
  • City: Richfield
  • State: MN
  • Metro Area: Minneapolis-St. Paul-Bloomington, MN-WI
  • County Name: HENNEPIN COUNTY

• Real Estate Market Snapshot

  • Average Home Price (All Types): $329,430
  • Average Home Price (Single Family Homes): $334,402
  • Average Monthly Rental Price (All Types): $1,337
  • Price-to-Rent Ratio: 21
  • Zillow Projected % appreciation from 4/2023-4/2024: -0.5%

• Section 8 Housing Insights

  • Average 2 Bedroom Section 8 Rental Rates: $1,380
  • Average 3 Bedroom Section 8 Rental Rates: $1,880
  • Price-to-Rent Ratio for 2 Bedroom Section 8 Properties: 19.89
  • Price-to-Rent Ratio for 3 Bedroom Section 8 Properties: 14.6
  • Number of Units Offered in Section 8 in the County: 13332
  • Number of Occupied Units in Section 8 in the County: 12545
  • Percentage of Section 8 Units Occupied in the County: 94.09999847%

• Historical & Recent Price Appreciation Rates

  • Total % Appreciation since 1990 (Government Data): 257.15
  • Total % Appreciation since 2000 (Government Data): 115.57
  • YTD Appreciation (Backwards from 4/2023, Realtor Data): -0.13%
  • 1-Year Appreciation (Backwards from 4/2023, Realtor Data): 2.33%
  • 3-Year Appreciation (Backwards from 4/2023, Realtor Data): 14.85%
  • 5-Year Appreciation (Backwards from 4/2023, Realtor Data): 27.05%
  • 10-Year Appreciation (Backwards from 4/2023, Realtor Data): 81.4%
  • 15-Year Appreciation (Backwards from 4/2023, Realtor Data): 50.92%
  • 20-Year Appreciation (Backwards from 4/2023, Realtor Data): 71.86%

• Historical & Recent Rent Appreciation Rates

  • YTD Rent Appreciation (Backwards from 4/2023, Realtor Data): 3.72%
  • 1-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): 4.38%
  • 3-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
  • 5-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%