The industrial summary identifies trends in the industrial property market including median property value and percent changes compared to previous years.

Market Summary

Industrial is the strongest market segment going into 2021. While the industrial market was strong prior to the pandemic, it continues to show considerable strength. Much of this market’s success is due to the continued growth of e-commerce and the need for warehouse distribution space.
Any large-scale retailer who hopes to succeed in the coming years knows that a robust e-commerce operation is necessary. This bodes well for industrial, and the pandemic has further strengthened this development.
In Ramsey County, these market dynamics have produced low vacancy rates and record high sale prices for industrial properties. Increasing construction costs and a lack of functional properties for sale continues to result in strong value appreciation. This is true for old and new properties alike, since the demand for these properties greatly exceeds the supply.

Estimated Market Value Totals

Estimated market value percent changes from 2020 to 2021 assessments.

Percent Change by City of Saint Paul and Suburbs

Countywide Percent Change

Median Estimated Market Value

Percent Change By Jurisdiction

Percent Change By City of Saint Paul and Suburbs

Countywide Percent Change 

Visit the property value and assessment page for more information.