Mankato, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mankato, MN Real Estate Data


Mankato Housing Market Information

With 41,044 people, 15,351 houses or apartments, and a median cost of homes of $175,542, Mankato real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Mankato, accounting for 49.47% of the city's housing units. Other types of housing that are prevalent in Mankato include large apartment complexes or high rise apartments ( 29.81%), duplexes, homes converted to apartments or other small apartment buildings ( 9.34%), and a few row houses and other attached homes ( 6.03%).

The most prevalent building size and type in Mankato are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.21% owning and 50.79% renting.

There is a lot of housing in Mankato 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 Mankato built between 1940-1969 ( 25.21%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.85%). There's also some housing in Mankato built before 1939 ( 20.94%).

Mankato Home Appreciation Rates

Real estate appreciation rates in Mankato's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.02% during the period.

Over the last year, Mankato appreciation rates have trailed the rest of the nation. In the last twelve months, Mankato's appreciation rate has been 2.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mankato were at 1.97%, which equates to an annual appreciation rate of 8.12%.

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

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

Average Home Values

 

Median Home Value:
$175,542

Mankato, MN HOME PRICES

Value Range
> $1,120,000 0.1
$839,001 - $1,120,000 0.3
$560,001 - $839,000 0.6
$448,001 - $560,000 1.4
$336,001 - $448,000 5.7
$224,001 - $336,000 18.3
$112,001 - $224,000 60.1
$56,001 - $112,000 5.5
$0 - $56,000 8.0

Average for MN
Average for Nation

Value Relative to Nation Value Relative to State
40.797563974937 55.8521560574949

Number Of Homes And Apartments:
15,351

Rent & Ownership

 

Average Market Rent:
$1,028 / per month

Homeownership Rate

Homeownership
Owners 49.21
Renters 50.79
Vacant 6.21

Housing Market Details

 

Age of Homes

AGE OF Mankato HOMES
2000 or Newer 21.8
1970 - 1999 32.0
1940 - 1969 25.2
1939 or Older 20.9

Types of Homes

TYPE OF Mankato HOMES
Single-Family 49.5
Townhomes 6.0
Small Apt. Buildings 9.3
Apt. Complexes 29.8
Mobile Homes 5.3
Other 0.0

Home Size

SIZE OF Mankato HOMES
No Bedroom 2.28
1 Bedroom 14.86
2 Bedrooms 29.31
3 Bedrooms 29.00
4 Bedrooms 18.68
5 or more bedrooms 5.87

Mankato Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
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
31.10% 1.61% 3 3
* 10 is highest