Aurora, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Aurora, MN Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Aurora Housing Market Information

With 1,666 people, 791 houses or apartments, and a median cost of homes of $75,525, house prices in Aurora are some of the most affordable in Minnesota as well as the nation.

Single-family detached homes are the single most common housing type in Aurora, accounting for 73.59% of the city's housing units. Other types of housing that are prevalent in Aurora include large apartment complexes or high rise apartments ( 9.59%), mobile homes or trailers ( 8.80%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.01%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Aurora. Owner-occupied housing accounts for 71.02% of Aurora's homes, and 53.39% have either three or four bedrooms, which is average sized relative to America.

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. Aurora's housing was primarily built during this period, from the '40s through the '60s. A full 43.12% of the city's housing hails from this era. Other housing ages represented in Aurora include homes built between 1970-1999 ( 34.54%) and housing constructed before 1939 ( 19.98%). There's also some housing in Aurora built between 2000 and later ( 2.37%).

Vacant housing appears to be an issue in Aurora. Fully 10.72% of the housing stock is classified as vacant. Left unchecked, vacant Aurora homes and apartments can be a drag on the real estate market, holding Aurora 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.

Aurora Home Appreciation Rates

Real estate appreciation rates in Aurora's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.34% during the period.

Over the last year, Aurora appreciation rates have trailed the rest of the nation. In the last twelve months, Aurora's appreciation rate has been -0.88%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Aurora were at 1.03%, which equates to an annual appreciation rate of 4.17%.

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

Average Home Values

 

Median Home Value:
$75,525

Aurora, MN HOME PRICES

Value Range
> $1,069,000 0.7
$801,001 - $1,069,000 0.0
$534,001 - $801,000 0.0
$427,001 - $534,000 0.0
$321,001 - $427,000 1.2
$214,001 - $321,000 2.5
$107,001 - $214,000 17.4
$54,001 - $107,000 53.2
$0 - $54,000 25.0

Very Low for MN
Very Low for Nation

Value Relative to Nation Value Relative to State
92.8923004804875 99.1786447638604

Number Of Homes And Apartments:
791

Aurora Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
48.20% 2.31% 7 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$576 / per month

Homeownership Rate

Homeownership
Owners 71.02
Renters 28.98
Vacant 10.72

Housing Market Details

 

Age of Homes

AGE OF Aurora HOMES
2000 or Newer 2.4
1970 - 1999 34.5
1940 - 1969 43.1
1939 or Older 20.0

Types of Homes

TYPE OF Aurora HOMES
Single-Family 73.6
Townhomes 0.0
Small Apt. Buildings 8.0
Apt. Complexes 9.6
Mobile Homes 8.8
Other 0.0

Home Size

SIZE OF Aurora HOMES
No Bedroom 0.34
1 Bedroom 16.48
2 Bedrooms 27.54
3 Bedrooms 41.08
4 Bedrooms 12.30
5 or more bedrooms 2.26

Popular Neighborhoods in Aurora

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Zip Codes in Aurora, MN