Mankato, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Mankato Neighborhoods Since 2000




Mankato, 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

Mankato Housing Market Information

With a population of 41,044, 15,527 total housing units (homes and apartments), and a median house value of $172,100, 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 47.82% of the city's housing units. Other types of housing that are prevalent in Mankato include large apartment complexes or high rise apartments ( 30.65%), duplexes, homes converted to apartments or other small apartment buildings ( 9.62%), and a few mobile homes or trailers ( 6.05%).

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 48.17% owning and 51.83% 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 ( 23.67%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.74%). There's also some housing in Mankato built before 1939 ( 20.51%).

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 -0.24% during the period.

NeighborhoodScout's data show that during the latest twelve months, Mankato's appreciation rate, at 3.15%, has been at or slightly above the national average. In the latest quarter, Mankato's appreciation rate has been -0.26%, which annualizes to a rate of -1.04%.

Relative to Minnesota, our data show that Mankato's latest annual appreciation rate is lower than 70% 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:
$172,100

Mankato, MN HOME PRICES

Value Range
> $1,085,000 0.2
$814,001 - $1,085,000 0.3
$543,001 - $814,000 0.5
$434,001 - $543,000 2.0
$326,001 - $434,000 6.3
$217,001 - $326,000 17.7
$109,001 - $217,000 60.1
$54,001 - $109,000 5.0
$0 - $54,000 8.1

Average for MN
Average for Nation

Value Relative to Nation Value Relative to State
40.8472987226064 55.0308008213552

Number Of Homes And Apartments:
15,527

Mankato 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
30.52% 1.56% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$996 / per month

Homeownership Rate

Homeownership
Owners 48.17
Renters 51.83
Vacant 6.73

Housing Market Details

 

Age of Homes

AGE OF Mankato HOMES
2000 or Newer 21.7
1970 - 1999 34.1
1940 - 1969 23.7
1939 or Older 20.5

Types of Homes

TYPE OF Mankato HOMES
Single-Family 47.8
Townhomes 5.9
Small Apt. Buildings 9.6
Apt. Complexes 30.7
Mobile Homes 6.0
Other 0.0

Home Size

SIZE OF Mankato HOMES
No Bedroom 3.04
1 Bedroom 14.69
2 Bedrooms 28.47
3 Bedrooms 29.61
4 Bedrooms 17.85
5 or more bedrooms 6.34