Housing Report for Duluth

The residential real estate values in Duluth, Minnesota have seen large increases from the housing values in 2000. The residential values have increased by $48,300, or 65.2 percent, since 2000 when their medians were reported to be $74,100.

Duluth recorded a median home value in 2005 of $122,400, according to the American Community Survey. This median is less than the State of Minnesota 2005 median owner-occupied dwelling value of $198,800 and less than median home value of $167,500 for the rest of the nation in that year.

Throughout the State of Minnesota, Duluth stands 4 of the 4 metro areas in terms of percentage growth in new housing structures. The metropolitan statistical area (msa) ranks 271 of 361, comparing the percentage change in residential real estate in other US MSAs.

In Duluth, the census reported 135,213 housing structures in 2005. The metro area has seen a medium level of growth in the number housing units, adding in all 4,101 homes since 2001, or 3.1 percent.

There is a large amount of real estate that is affordable in Duluth, Minnesota. In 2005, 51.5 percent of owner-occupied dwellings were valued under $125k.

Duluth has a medium proportion of residential real estate that is high priced. During the year 2005, the American Community Survey reports that 1.8 percent of the houses were valued over a half a million dollars.

Data Source: U.S. Census Bureau

Employment Report for Duluth, MN, Minnesota -- Annual 2005 Industry Summary

In Duluth, MN, Retail Trade, Accommodation and food services, and the Manufacturing sectors, in terms of total employment, are the largest. Retail Trade is the largest employment industry and makes up 16.3 percent of all the jobs in the Metropolitain Area. This makes up 16,144 individuals. The Accommodation and food services and Manufacturing industries total 12.4 and 8.7 percent of all employment.

In Duluth, MN, Accommodation and food services, Retail Trade and Transportation and Warehousing are the three industries with the highest location quotients. The Accommodation and food services industry has an LQ of 1.26. This means the percent of total employment in the Accommodation and food services industry is 1.26 times greater than the national average, signifying that Duluth, MN produces more than its local requirement of products and/or services of Accommodation and food services.

Manufacturing has the largest businesses in Duluth, MN Metro Area. The industry averages 26 workers per each place of employment, being less than the industry's average at the national level of 39 and less than the Minnesota average establishment size of 39 for the Manufacturing industry.

Finance and insurance is the industry that has seen the largest increase in jobs from the year 2001 to the present in Duluth, MN, with an employment growth of 13.2 percent. This is greater than the United States change in the sector jobs of 4.8 percent. The State of Minnesota experienced a sector employment shift of 6.4 percent, from 2001 to 2005.

A well-paying sector in Duluth, MN is the finance and insurance sector with an annual pay of $58,291. Throughout the MSA since the year 2001, the annual average wages in the industry have grown by 15.7 percent or $7,911. The State of Minnesota holds a similar employment climate in the finance and insurance sector, standing near the top of industries in term of the average annual pay of 2004.







Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).