Mason City, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mason City, IA Real Estate Data


Mason City Housing Market Information

With a population of 27,366, 12,873 total housing units (homes and apartments), and a median house value of $121,390, house prices in Mason City are solidly below the national average.

Single-family detached homes are the single most common housing type in Mason City, accounting for 74.82% of the city's housing units. Other types of housing that are prevalent in Mason City include large apartment complexes or high rise apartments ( 14.17%), duplexes, homes converted to apartments or other small apartment buildings ( 6.08%), and a few row houses and other attached homes ( 2.98%).

The most prevalent building size and type in Mason City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.52% owning and 35.48% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Mason City's housing was primarily built during this period, from the '40s through the '60s. A full 39.17% of the city's housing hails from this era. Other housing ages represented in Mason City include homes built before 1939 ( 29.83%) and housing constructed between 1970-1999 ( 25.20%). There's also some housing in Mason City built between 2000 and later ( 5.80%).

Mason City Home Appreciation Rates

Appreciation rates for homes in Mason City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.74%, which ranks in the top 50% nationwide. This equates to an annual average Mason City house appreciation rate of 0.46%.

Over the last year, Mason City appreciation rates have trailed the rest of the nation. In the last twelve months, Mason City's appreciation rate has been 3.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mason City were at -0.32%, which equates to an annual appreciation rate of -1.26%.

Notably, Mason City's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Iowa, our data show that Mason City's latest annual appreciation rate is lower than 80% of the other cities and towns in Iowa.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Mason City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mason City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Mason City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$121,390

Mason City, IA HOME PRICES

Value Range
> $1,086,000 0.0
$815,001 - $1,086,000 0.0
$543,001 - $815,000 0.3
$434,001 - $543,000 0.9
$326,001 - $434,000 2.8
$217,001 - $326,000 10.9
$109,001 - $217,000 33.2
$54,001 - $109,000 41.3
$0 - $54,000 10.6

Average for IA
Low for Nation

Value Relative to Nation Value Relative to State
65.5150202026117 53.5802469135802

Number Of Homes And Apartments:
12,873

Rent & Ownership

 

Average Market Rent:
$754 / per month

Homeownership Rate

Homeownership
Owners 64.52
Renters 35.48
Vacant 4.01

Housing Market Details

 

Age of Homes

AGE OF Mason City HOMES
2000 or Newer 5.8
1970 - 1999 25.2
1940 - 1969 39.2
1939 or Older 29.8

Types of Homes

TYPE OF Mason City HOMES
Single-Family 74.8
Townhomes 3.0
Small Apt. Buildings 6.1
Apt. Complexes 14.2
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Mason City HOMES
No Bedroom 1.45
1 Bedroom 14.49
2 Bedrooms 30.21
3 Bedrooms 38.19
4 Bedrooms 12.60
5 or more bedrooms 3.06

Mason City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
27.45% 1.44% 2 3
* 10 is highest