Cannon Falls Minnesota Area Home Supply Charts

This page looks at a variety of Cannon Falls Minnesota housing market data taken from the most recent 2020 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Cannon Falls shows it has a Housing Units of 1,775 which is the highest of all places in the greater Cannon Falls region.

Figure 2 illustrates the housing density in the Cannon Falls housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Cannon Falls shows it has a Housing Density of 405.5 which is the largest of all places in the metro area. Comparing housing density to the United States average of 38.9, Cannon Falls is appreciably bigger. Also, compared to the state of Minnesota, housing density of 30.7, Cannon Falls is very much bigger.

In Figure 4, Cannon Falls area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Cannon Falls depicts it has a Housing Unit Change of -5.0% which is less than most other places in the greater region. The city with the highest change in the housing units in the area is Vermillion which depicts a housing units of 17.3% (approximately 3.4 times bigger). Comparing change in the housing units to the United States average of 5.7%, Cannon Falls is about the same size. Also, measured against the state of Minnesota, change in the housing units of 3.9%, Cannon Falls is 29.7% larger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Cannon Falls shows it has a Renter Percent of 28.3% which is ranked #1 of all places in the greater Cannon Falls region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 71.7% which is the smallest as measured by owner percent of all the other places in the surrounding region.

Cannon Falls Minnesota Home Cost Charts

Looking at the housing data provided in Figure 7, the average Cannon Falls home price is illustrated for this community and a useful analysis of affordable housing. Cannon Falls depicts it has a Median Home Value of $177,900 which is the second smallest as measured by median home price of all the other places in the metro area. The city with the highest median home price in the area is Miesville which shows a home price of $232,800 (30.9% larger). Figure 8 provides aggregate comparative data for the Cannon Falls Minnesota metro area in terms of the median housing rental rate, apartment rent, etc. Cannon Falls shows it has a Median Gross Rent of $890 which is the third most of all other places in the area. The city with the highest rental rates in the area is Dennison which depicts a rental rates of $1,188 (33.5% larger). Comparing rental rates to the United States average of $1,062, Cannon Falls is about 19.3% smaller. Also, compared with the state of Minnesota, rental rates of $977, Cannon Falls is about 9.8% smaller.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Cannon Falls has one of the largest proportions of home price worth between $50,000 to $100,000 at 45% of the total and is ranked #3. Only #2 New Trier (47%), and #1 Dennison (56%) are larger. Second, it has the second smallest in terms of home price worth less than $50,000 of all the other places in the greater region when ranked by home price worth between $100,000 to $200,000 at 33% of the total.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Cannon Falls depicts it has a Median Owner Cost of $1,212 which is less than most other places in the greater region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Cannon Falls metro area. it has a Owner Cost as % of HH Income of 18% which is the third most cost as a percent of household income of all other places in the greater Cannon Falls region. The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Cannon Falls shows it has a Median Home Value as Percent of Median Earnings of 358% which is the second smallest in terms of median home value as a percent of median worker earnings of all the other places in the greater region.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Cannon Falls depicts it has a Median Owner Costs-With Mortgage of $1,432 which is the smallest when ranked by median housing cost of all the other places in the greater region. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $515 which is the second most median housing cost of all the places in the greater Cannon Falls region.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Cannon Falls has the percentage of owner cost less than $300 the second smallest when sorted by owner cost less than $300 of all the other places in the metro area at 4% of the total. Second, it has one of the largest proportions of owner cost between $500 and $700 at 16% of the total and is ranked #2. The only larger city being Dennison with 18%.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Cannon Falls shows it has a % of Income Owner Costs-With Mortgage of 19% which is in the mid point range of other places in the surrounding region. The city with the highest cost as a percent of household income in the area is Randolph which indicates a cost as a percent of household income of 23% (22.0% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Cannon Falls shows it has a % of Income Owner Costs-No Mortgage of 12% which is the second most cost as a percent of household income of all the places in the greater Cannon Falls region. The city with the highest cost as a percent of household income in the area is Dennison which shows a cost as a percent of household income of 26% (about twice as large).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Cannon Falls has one of the largest proportions of rent as a percent of income is less than 10 pct at 28% of the total and is ranked #3. Only #2 Randolph (46%), and #1 Miesville (100%) are larger. Second, it has the largest proportion of rent as a percent of income is between 10pct to 20pct at 27% of the total and is ranked #1. Third, it has one of the largest proportions of rent as a percent of income is between 20pct to 30pct at 17% of the total and is ranked #2. The only larger city being Vermillion with 35%. Also, it has in the mid point range of other places in the local area when sorted by rent as a percent of income is between 30pct to 40pct at 4% of the total. In addition, it has one of the largest proportions of rent as a percent of income is between 40pct to 50pct at 20% of the total and is ranked #3. Only #2 Dennison (33%), and #1 Hampton (34%) are larger.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Cannon Falls has the largest proportion of housing cost between $500 and $700 at 21% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $2,287 which is the second most median real estate taxes paid of all the places in the greater Cannon Falls region. The city with the highest median real estate taxes paid in the area is Dennison which shows a taxes paid of $2,409 (only about 5.3% larger). Comparing median real estate taxes paid to the United States average of $2,471, Cannon Falls is about 8.0% smaller. Also, benchmarked against the state of Minnesota, median real estate taxes paid of $2,500, Cannon Falls is about 9.3% smaller.

Figure 22 shows the percentage of renters who pay for utilities in Cannon Falls Minnesota. This is calculated as the percent of renters who pay separately for utilities versus the people who have utilities included as part of amenities. Cannon Falls has the largest proportion of pay extra for utilities at 20% of the total and is ranked #1.

Figure 23 shows the rental rate distribution for this area. Cannon Falls Minnesota has the largest proportion of rent less than 300 dollars at 10% of the total and is ranked #1. Second, it has one of the largest proportions of rent between 300 and 500 dollars at 18% of the total and is ranked #3. Only #2 Vermillion (22%), and #1 Hampton (34%) are larger. Third, it has less than most other places in the metro area in order of rent between 750 and 1000 dollars at 14% of the total. Also, it has one of the largest proportions of rent between 1000 and 1500 dollars at 20% of the total and is ranked #2. The only larger city being Dennison with 33%.

Cannon Falls Minnesota Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Cannon Falls has the largest proportion of both 2nd mortgage and heloc at 67% of the total and is ranked #1. Second, it has less than most other places in the greater region as measured by no 2nd mortgage and no heloc at 21% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Cannon Falls has the percentage of houses with mortgages less than most other places in the metro area at 21% of the total.

Cannon Falls Minnesota Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.0 which is the second smallest in order of family members per housing unit of all the other places in the local area. The city with the highest family members per housing unit in the area is Dennison which depicts a family members per housing unit of 3.6 (19.6% larger). Comparing family members per housing unit to the United States average of 3.3, Cannon Falls is about 10.8% smaller. Also, versus the state of Minnesota, family members per housing unit of 3.1, Cannon Falls is only about 5.0% smaller.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 6.2 which is the second smallest in terms of average number of rooms in a house of all the other places in the local area. The city with the highest average number of rooms in a house in the area is New Trier which depicts an average number of rooms in a house of 7.5 (21.0% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1976 which is the second most year built of all the places in the greater Cannon Falls region. The city with the highest year built in the area is Hampton which depicts a year built of 1992 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has one of the largest proportions of homes built in 2014 or later at 4% of the total and is ranked #2. The only larger city being Miesville with 4%. Second, it has in the mid range of other places in the metro area when ranked by homes built between 2010 to 2013 at 13% of the total. Third, it has one of the largest proportions of homes built between 2000 to 2009 at 12% of the total and is ranked #3. Only #2 Dennison (14%), and #1 Randolph (14%) are larger. Also, it has one of the largest proportions of homes built between 1980 to 1989 at 16% of the total and is ranked #2. The only larger city being Vermillion with 23%. In addition, it has in the mid point range of other places in the surrounding region as measured by homes built between 1960 to 1969 at 7% of the total. Furthermore, it has the second smallest in order of homes built in 2014 or later of all the other places in the local area when ranked by homes built between 1940 to 1949 at 20% of the total.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. it has the largest proportion of owner housing units at 479 of the total and is ranked #1.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. it has the largest proportion of one unit attached at 3% of the total and is ranked #1. Second, it has the largest proportion of 2 units at 4% of the total and is ranked #1. Third, it has the largest proportion of 5 to 9 units at 7% of the total and is ranked #1. Also, it has the largest proportion of 10 to 19 units at 4% of the total and is ranked #1. In addition, it has the largest proportion of 20 to 49 units at 4% of the total and is ranked #1. Furthermore, it has the largest proportion of 50 or more units at 6% of the total and is ranked #1.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has the largest proportion of value of homes built 2014 or later at $292,500 of the total and is ranked #1. Second, it has the second smallest when ranked by value of homes built 2014 or later of all the other places in the metro area when sorted by value of homes built 2010 to 2013 at $233,300 of the total. Third, it has the largest proportion of value of homes built 2000 to 2009 at $255,600 of the total and is ranked #1. Also, it has one of the largest proportions of value of homes built 1990 to 1999 at $218,900 of the total and is ranked #3. Only #2 Randolph ($230,000), and #1 Vermillion ($245,000) are larger. In addition, it has one of the largest proportions of value of homes built 1980 to 1989 at $163,800 of the total and is ranked #2. The only larger city being Vermillion with $230,300. Furthermore, it has the second smallest in terms of value of homes built 2014 or later of all the other places in the metropolitan area as measured by value of homes built 1970 to 1979 at $167,200 of the total. Next it has less than most other places in the metro area as measured by value of homes built 1960 to 1969 at $137,500 of the total. Additionally, it has one of the largest proportions of value of homes built 1950 to 1959 at $144,500 of the total and is ranked #3. Only #2 Vermillion ($175,000), and #1 Randolph ($210,700) are larger. And then, it has less than most other places in the metro area as measured by value of homes built 1940 to 1949 at $153,600 of the total.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Cannon Falls residents. it has a Owner-Household Size of 2.5 which is the second smallest in terms of homeowner household size of all the other places in the metro area. The city with the highest homeowner household size in the area is Dennison which depicts a homeowner household size of 3.1 (22.9% larger).

Figure 37 shows the household size for renters. Cannon Falls shows it has a Renter-Household Size of 1.8 which is less than most other places in the metro area. The city with the highest renter household size in the area is Miesville which depicts a renter household sizes of 3.8 (about twice as large). Figure 38 shows the year that people who own homes moved into this region. it has the largest proportion of owners moved in 2017 or later at 17% of the total and is ranked #1. Second, it has less than most other places in the metro area when sorted by owners moved in 1990 to 1999 at 8% of the total. Figure 39 shows the year that people who rent moved into the area. Cannon Falls has the largest proportion of renters moved in 2017 or later at 45% of the total and is ranked #1. Second, it has one of the largest proportions of renters moved in 2015 to 2016 at 45% of the total and is ranked #3. Only #2 Hampton (45%), and #1 Miesville (100%) are larger.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2007 which is the second most of all the places in the metro area. Figure 41 compares the median year that renters moved into their home. Cannon Falls shows it has a Renter Median Year Moved In of 2015 which is the third most of all other places in the area.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the percentage of homes using natural gas the second smallest as measured by homes using natural gas of all the other places in the local area at 2% of the total. Second, it has the largest proportion of home using bottled, tank, or lp gas at 16% of the total and is ranked #1.

The next two charts show the number of people living in group quarters and includes temporary as well permanent housing which may be run by the Cannon Falls housing department, Minnesota department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. Cannon Falls depicts it has a Total In Group Quarters of 99 which is the most of all places in the greater Cannon Falls region.

Figure 44 shows the percentage of people who are living in group quarters to the total population for Cannon Falls residents (these may include colleges and jails but also community centers for homelessness or that require a housing choice voucher which are run by certain nonprofits or an affordable housing department.) Cannon Falls has the largest proportion of number of people under 18 years of age and in group quarters at 100% of the total and is ranked #1.