Mora, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mora, 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

Mora Housing Market Information

With a population of 3,462, 1,403 total housing units (homes and apartments), and a median house value of $130,328, house prices in Mora are solidly below the national average.

Single-family detached homes are the single most common housing type in Mora, accounting for 54.23% of the city's housing units. Other types of housing that are prevalent in Mora include large apartment complexes or high rise apartments ( 20.21%), mobile homes or trailers ( 11.63%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.96%).

People in Mora primarily live in small (one, two or no bedroom) single-family detached homes. Mora has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Mora 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 Mora built between 1940-1969 ( 33.89%). A lesser amount of the housing stock also hails from before 1939 ( 13.18%). There's also some housing in Mora built between 2000 and later ( 11.01%).

Vacant housing appears to be an issue in Mora. Fully 12.75% of the housing stock is classified as vacant. Left unchecked, vacant Mora homes and apartments can be a drag on the real estate market, holding Mora 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.

Mora Home Appreciation Rates

Homes have actually lost value in Mora over the last then years, as home values have seen a decline of 23.04% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Mora home appreciation rates at -0.47%, which equates to an annual appreciation rate of -1.86%.

Appreciation rates are so strong in Mora that despite a nationwide downturn in the housing market, Mora real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mora appreciation rates continue to be some of the highest in America, at 6.66%, which is higher than appreciation rates in 78.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mora. Mora appreciation rates in the latest quarter were at -0.47%, which equates to an annual appreciation rate of -1.86%.

Relative to Minnesota, our data show that Mora's latest annual appreciation rate is higher than 80% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$130,328

Mora, MN HOME PRICES

Value Range
> $1,159,000 0.0
$869,001 - $1,159,000 0.0
$579,001 - $869,000 1.4
$464,001 - $579,000 0.8
$348,001 - $464,000 1.3
$232,001 - $348,000 5.4
$116,001 - $232,000 48.7
$58,001 - $116,000 26.1
$0 - $58,000 16.3

Low for MN
Average for Nation

Value Relative to Nation Value Relative to State
59.6859252314543 77.82340862423

Number Of Homes And Apartments:
1,403

Mora 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
14.32% 0.78% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,042 / per month

Homeownership Rate

Homeownership
Owners 48.27
Renters 51.73
Vacant 12.75

Housing Market Details

 

Age of Homes

AGE OF Mora HOMES
2000 or Newer 11.0
1970 - 1999 41.9
1940 - 1969 33.9
1939 or Older 13.2

Types of Homes

TYPE OF Mora HOMES
Single-Family 54.2
Townhomes 5.4
Small Apt. Buildings 8.0
Apt. Complexes 20.2
Mobile Homes 11.6
Other 0.6

Home Size

SIZE OF Mora HOMES
No Bedroom 3.98
1 Bedroom 23.13
2 Bedrooms 26.49
3 Bedrooms 37.81
4 Bedrooms 6.78
5 or more bedrooms 1.80

Popular Neighborhoods in Mora

Zip Codes in Mora, MN