New homes in all sizes and styles abound in Apple Valley, and with almost
$50 million issued in new home building permits every year, chances are
good that there is something here that is perfect for you.
Several new projects have recently been completed in the city. Perhaps
most exciting are Tousignant's Prairie Crossing with 283 total units (167
detached family homes and 116 townhomes), Regatta and Regatta 2 with 469
units (53 single family, 104 duplex, and 312 townhomes), and Cortland
Square, a 60 dwelling senior facility owned and operated by Dakota County
Community Development Agency.
Hundreds of other new homes are also
planned or are in the early stages of
construction. These include Cobblestone Lake 1st phase that will consist
of 59 single family units, Seasons on the Park that will include 24 single
family homes, Diamond Valley Estates with 14 single family units, Regatta
Village Apartments that will have 224 units, and Orchard Pointe with 278
townhomes.
The majority of Apple Valley residents, 87 percent, own their own homes.
The average home market value in the city is $185,000; the total tax rate
is 1.126 percent. For those who rent, the city's average monthly rent for
a one bedroom apartment is $745; a two bedroom apartment is $963, and a
three bedroom apartment is $1,272.
Apple Valley's building boom can be credited to several factors, starting
with the city's population growth spurt. During the past 35 years, the
city has grown from 585 residents to more than 48,000.
Easy highway access and a major retail corridor, which facilitate a smooth
flow of commerce in and around the city, have supported new construction
that is not expected to subside. The city's young, affluent population
also contributes. The average resident is 30 years old with a median
family income of $63,849. Employment figures for the city show an
increase in jobs from 6,528 in 1990 to 8,681 in 1995. The growth is
expected to continue to 13,100 jobs by the year 2020.
Apple Valley's location near two colleges also makes it an attractive
place to settle. The city is nestled between Dakota County Technical
College to the east in Rosemount and Inver Hills Community College in
Inver Grove Heights.
In addition to the close proximity of the colleges, Apple Valley residents
also enjoy being conveniently located near many of the city's
businesses,
restaurants, shopping
and recreational areas.
