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Hennepin County property values: Where the wealth is

It’s an old real-estate cliche: location matters. The map below shows a visualization of estimated market value of all parcels in Hennepin County, including the value of the land and any buildings.

Not surprisingly, commercial centers like downtown Minneapolis feature the highest property values — a combination of valuable land and expensive commercial buildings. In terms of residential prices, take a look along the county’s lake shores, especially Lake of the Isles and Lake Harriet in Minneapolis and Lake Minnetonka in the West Metro: the parcels here stand out compared to their neighbors both in terms of land value and the value of the homes that are built there.

This map is made possible because Hennepin County recently passed an open data policy for geospatial information systems (GIS) data. Other metro counties including Ramsey, Dakota, Anoka, and Carver have all recently passed similar policies sparked from the work of MetroGIS, a metro-area government-administered collaborative focused on GIS data. Just this past week, Hennepin County put its data online, free for anyone to download.

Comments (7)

  1. Submitted by John Appelen on 05/05/2014 - 10:36 pm.

    Cool Map

    Though it is necessary to zoom in and pan to make it really useful.

  2. Submitted by Janne Flisrand on 05/06/2014 - 09:20 am.

    normalized data?

    This map is cool… but in most cases the value seems to be a function of the size of the parcel. Is there a way you could provide normalized data, with $$/sf of land? In my neighborhood, all the high value places seem to be properties that have assembled 3-4-5 lots somewhere in the past, and that doesn’t tell me anything other than “bigger lots are more valuable.”

  3. Submitted by Matthew Brillhart on 05/06/2014 - 09:31 am.

    Value/acre would be more interesting

    Alan, I don’t mean to be too critical, but this map doesn’t really show anything but where the *largest* parcels are located. In Minneapolis, all of the turquoise-colored parcels are full-block developments downtown and the supersized industrial parcels in Northeast. Similarly, parcels in Plymouth and in Eden Prairie’s “Golden Triangle” show up in turquoise because they are large.

    A much better map would show $value/square foot or $value/acre. Or show residential property only if home values are what you’re trying to convey. Clumping in massive industrial and commercial properties with fine grained residential property values really muddies what the map was intended to display.

  4. Submitted by Alan Palazzolo on 05/06/2014 - 02:42 pm.

    We did think about this

    We did think about the idea of “normalizing” by area, but ultimately went against it.  The size of parcel does not have a great relationship with market value, especially when taking in other factors like looking at what type of parcel it is.  We would have to do more in-depth analysis to see if this would actually be more accurate or better information.  We are thinking about doing a map on just residential or just commercial and I think it would be much more appropriate to adjust for parcel area.  Thanks for the feedback.

  5. Submitted by Robert Coles on 05/14/2014 - 02:04 pm.

    Unable to view map

    Our enterprise firewalls do not allow inbound TCP port 9003 from the Internet.
    Is it possible to have use TCP port 80 or 443 versus 9003?
    Thank you!

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