Manhattan, KS Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Manhattan, KS Housing Market Trends

With a population of 54,604, 20,252 total housing units (homes and apartments), and a median house value of $217,758, Manhattan real estate is some of the most expensive in Kansas, although Manhattan home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Manhattan, accounting for 40.69% of the city's housing units. Other types of housing that are prevalent in Manhattan include large apartment complexes or high rise apartments ( 34.79%), duplexes, homes converted to apartments or other small apartment buildings ( 11.95%), and a few row houses and other attached homes ( 7.84%).

Manhattan is dominated by renter-occupied one, two, or no bedrooms apartments. 65.37% of Manhattan's dwellings are rentals.

There is a lot of housing in Manhattan built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Manhattan built between 2000 and later ( 26.73%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.96%). There's also some housing in Manhattan built before 1939 ( 7.86%).

Vacant housing appears to be an issue in Manhattan. Fully 14.83% of the housing stock is classified as vacant. Left unchecked, vacant Manhattan homes and apartments can be a drag on the real estate market, holding Manhattan real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Manhattan Home Appreciation Rates

Manhattan's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Manhattan during the period has been just 1.46%, which is lower than 80% of US communities.

Over the last year, Manhattan appreciation rates have trailed the rest of the nation. In the last twelve months, Manhattan's appreciation rate has been 4.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Manhattan were at 1.82%, which equates to an annual appreciation rate of 7.50%.

Relative to Kansas, our data show that Manhattan's latest annual appreciation rate is lower than 90% of the other cities and towns in Kansas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Manhattan differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Manhattan - 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 Manhattan real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$217,758

Manhattan, KS HOME PRICES

> $1,070,000
0.1%
0.1%
$803,001 - $1,070,000
0.5%
0.5%
$535,001 - $803,000
2.6%
2.6%
$428,001 - $535,000
4.1%
4.1%
$321,001 - $428,000
7.3%
7.3%
$214,001 - $321,000
33.0%
33.0%
$107,001 - $214,000
42.6%
42.6%
$54,001 - $107,000
4.0%
4.0%
$0 - $54,000
5.9%
5.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for KS

Value Relative To Nation

Number Of Homes And Apartments:
20,252

Manhattan Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
80.12% 2.84%
7
6
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$991 / per month

Homeownership Rate

Owners
34.6%
34.6%
Renters
65.4%
65.4%
Vacant
14.8%
14.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
26.7%
26.7%
1970 - 1999
42.5%
42.5%
1940 - 1969
23.0%
23.0%
1939 or Older
7.9%
7.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
40.7%
40.7%
Townhomes
7.8%
7.8%
Small Apt. Buildings
11.9%
11.9%
Apt. Complexes
34.8%
34.8%
Mobile Homes
4.7%
4.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.7%
4.7%
1 Bedroom
14.0%
14.0%
2 Bedrooms
28.9%
28.9%
3 Bedrooms
29.3%
29.3%
4 Bedrooms
16.4%
16.4%
5 or more bedrooms
6.7%
6.7%
0.0% 100.0%
% OF HOMES