Spring Valley Minnesota Area Home Supply Charts

This page looks at a variety of Spring Valley Minnesota housing market data taken from the most recent 2021 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. Spring Valley depicts it has a Housing Units of 1,140 which is the second most housing units of all the places in the greater Spring Valley region.

Figure 2 illustrates the housing density in the Spring Valley housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Spring Valley shows it has a Housing Density of 387.8 which is in the center range of other places in the metro area. The city with the highest housing density in the area is Stewartville which shows a density of 803.5 (about twice as large). Comparing housing density to the United States average of 39.2, Spring Valley is markedly bigger. Also, benchmarked against the state of Minnesota, housing density of 30.9, Spring Valley is considerably bigger.

In Figure 4, Spring Valley area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Spring Valley shows it has a Housing Unit Change of -2.7% which is in the middle range of other places in the area. The city with the highest change in the housing units in the area is Racine which depicts a housing units of 8.4% (approximately 3.1 times bigger). Comparing change in the housing units to the United States average of 6.5%, Spring Valley is about the same size. Also, compared to the state of Minnesota, change in the housing units of 4.7%, Spring Valley is about the same size.

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.) Spring Valley shows it has a Renter Percent of 24.1% which is in the mid range of other places in the metro area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 75.9% which is in the middle range of other places in the metro area.

Spring Valley Minnesota Home Cost Charts

Looking at the housing data provided in Figure 7, the average Spring Valley home price is illustrated for this community and a useful analysis of affordable housing. Spring Valley depicts it has a Median Home Value of $111,900 which is in the mid point range of other places in the local area. The city with the highest median home price in the area is Stewartville which depicts a home price of $190,100 (69.9% larger). Figure 8 provides aggregate comparative data for the Spring Valley Minnesota metro area in terms of the median housing rental rate, apartment rent, etc. Spring Valley shows it has a Median Gross Rent of $611 which is the second smallest as measured by rental rates of all the other places in the metropolitan area. The city with the highest rental rates in the area is Racine which shows a rental rates of $1,013 (65.8% larger). Comparing rental rates to the United States average of $1,096, Spring Valley is approximately half the size. Also, in contrast to the state of Minnesota, rental rates of $1,010, Spring Valley is approximately three-fourths the size.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Spring Valley has one of the largest proportions of home price worth between $50,000 to $100,000 at 53% of the total and is ranked #3. Only #2 Grand Meadow (54%), and #1 Racine (59%) are larger.

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. Spring Valley depicts it has a Median Owner Cost of $711 which is less than most other places in the metro area. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Spring Valley metro area. it has a Owner Cost as % of HH Income of 15% which is less than most other places in the area.

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. Spring Valley depicts it has a Median Home Value as Percent of Median Earnings of 267% which is the third most of all other places in the local area.

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.) Spring Valley depicts it has a Median Owner Costs-With Mortgage of $1,021 which is less than most 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 $422 which is less than most other places in the area.

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. Spring Valley has one of the largest proportions of owner cost less than $300 at 25% of the total and is ranked #3. Only #2 Le Roy (31%), and #1 Wykoff (35%) are larger. Second, it has one of the largest proportions of owner cost between $300 and $500 at 19% of the total and is ranked #2. The only larger city being Grand Meadow with 20%.

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.) Spring Valley indicates it has a % of Income Owner Costs-With Mortgage of 17% which is less than most other places in the metro area. The city with the highest cost as a percent of household income in the area is Racine which depicts a cost as a percent of household income of 23% (35.3% 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. Spring Valley depicts it has a % of Income Owner Costs-No Mortgage of 11% which is in the middle range of other places in the area. The city with the highest cost as a percent of household income in the area is Ostrander which depicts a cost as a percent of household income of 16% (46.0% larger).

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.) Spring Valley has the percentage of rent as a percent of income is less than 10 pct the second smallest as measured by rent as a percent of income is less than 10 pct of all the other places in the local area at 23% of the total. Second, it has one of the largest proportions of rent as a percent of income is between 10pct to 20pct at 34% of the total and is ranked #2. The only larger city being Stewartville with 43%. Third, 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 Stewartville (20%), and #1 Le Roy (28%) are larger.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Spring Valley has the largest proportion of housing cost between $300 and $500 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 $1,345 which is less than most other places in the metro area. The city with the highest median real estate taxes paid in the area is Stewartville which shows a taxes paid of $2,601 (about twice as large). Comparing median real estate taxes paid to the United States average of $2,551, Spring Valley is approximately half the size. Also, in comparison with the state of Minnesota, median real estate taxes paid of $2,606, Spring Valley is approximately half the size.

Figure 23 shows the rental rate distribution for this area. Spring Valley Minnesota has one of the largest proportions of rent between 300 and 500 dollars at 33% of the total and is ranked #2. The only larger city being Le Roy with 37%. Second, it has the second smallest as measured by rent less than 300 dollars of all the other places in the metro area in order of rent between 500 and 750 dollars at 14% of the total. Third, it has one of the largest proportions of rent between 750 and 1000 dollars at 25% of the total and is ranked #3. Only #2 Stewartville (32%), and #1 Racine (48%) are larger.

Spring Valley Minnesota Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Spring Valley has one of the largest proportions of With HELOC no Primary Mortgage at 41% of the total and is ranked #2. The only larger city being Wykoff with 50%.

Spring Valley 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 as measured by 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 Racine which depicts a family members per housing unit of 3.5 (16.5% larger). Comparing family members per housing unit to the United States average of 3.3, Spring Valley is about 10.1% smaller. Also, benchmarked against the state of Minnesota, family members per housing unit of 3.2, Spring Valley 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 6.4 which is the third most of all other places in the surrounding region. The city with the highest average number of rooms in a house in the area is Racine which depicts an average number of rooms in a house of 7.3 (14.1% 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 1953 which is the smallest when sorted by year built of all the other places in the local area. The city with the highest year built in the area is Stewartville which depicts a year built of 1986 ( only slightly larger).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. has the percentage of homes built between 2010 to 2013 less than most other places in the greater region at 9% of the total. Second, it has the smallest proportion of homes built between 1990 to 1999 at 1% of the total. Third, it has the smallest proportion of homes built between 1980 to 1989 at 10% of the total. Also, it has the largest proportion of homes built between 1960 to 1969 at 13% of the total and is ranked #1. In addition, it has the largest proportion of homes built between 1950 to 1959 at 7% of the total and is ranked #1. Furthermore, it has one of the largest proportions of homes built between 1940 to 1949 at 39% of the total and is ranked #2. The only larger city being Wykoff with 45%.

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 one of the largest proportions of owner housing units at 250 of the total and is ranked #2. The only larger city being Stewartville with 425.

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 7% of the total and is ranked #1. Second, it has one of the largest proportions of 5 to 9 units at 6% of the total and is ranked #2. The only larger city being Grand Meadow with 7%. Third, it has the largest proportion of 20 to 49 units at 0% 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 one of the largest proportions of value of homes built 2010 to 2013 at $169,500 of the total and is ranked #3. Only #2 Racine ($225,000), and #1 Stewartville ($245,800) are larger. Second, it has in the mid point range of other places in the local area as measured by value of homes built 2000 to 2009 at $120,100 of the total. Third, it has one of the largest proportions of value of homes built 1980 to 1989 at $120,400 of the total and is ranked #3. Only #2 Racine ($156,300), and #1 Stewartville ($164,300) are larger. Also, it has in the mid range of other places in the surrounding region as measured by value of homes built 1970 to 1979 at $125,000 of the total. In addition, it has in the middle range of other places in the greater region when ranked by value of homes built 1960 to 1969 at $109,800 of the total. Furthermore, it has the largest proportion of value of homes built 1950 to 1959 at $90,000 of the total and is ranked #1. Next it has in the mid range of other places in the local area in terms of value of homes built 1940 to 1949 at $92,300 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 Spring Valley residents. it has a Owner-Household Size of 2.4 which is the second smallest when sorted by homeowner household size of all the other places in the local area. The city with the highest homeowner household size in the area is Racine which depicts a homeowner household size of 2.8 (15.1% larger).

Figure 37 shows the household size for renters. Spring Valley shows it has a Renter-Household Size of 1.9 which is the second smallest when sorted by renter household size of all the other places in the metro area. The city with the highest renter household size in the area is Racine which depicts a renter household sizes of 3.7 (about twice as large). Figure 38 shows the year that people who own homes moved into this region. it has one of the largest proportions of owners moved in 2019 or later at 27% of the total and is ranked #3. Only #2 Le Roy (30%), and #1 Stewartville (35%) are larger. Second, it has the smallest proportion of owners moved in 2015 to 2018 at 12% of the total. Figure 39 shows the year that people who rent moved into the area. Spring Valley has one of the largest proportions of renters moved in 2019 or later at 61% of the total and is ranked #2. The only larger city being Wykoff with 68%. Second, it has the second smallest when sorted by renters moved in 2019 or later of all the other places in the local area when ranked by renters moved in 2015 to 2018 at 21% of the total.

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 third most median year that a home owner moved in of all other places in the greater Spring Valley region. Figure 41 compares the median year that renters moved into their home. Spring Valley shows it has a Renter Median Year Moved In of 2016 which is the second most median year that a renter moved in of all the places in the greater Spring Valley region.

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 in the middle range of other places in the area at 3% of the total. Second, it has in the middle range of other places in the surrounding region in terms of homes using solar energy at 1% of the total.

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 Spring Valley housing department, Minnesota department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. Spring Valley depicts it has a Total In Group Quarters of 46 which is the second most number of people in group quarters of all the places in the greater Spring Valley region.

Figure 44 shows the percentage of people who are living in group quarters to the total population for Spring Valley 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.) Spring Valley 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.