Mora, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mora, MN Real Estate Data


Mora Housing Market Information

With 3,462 people, 1,500 houses or apartments, and a median cost of homes of $122,018, 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 53.97% of the city's housing units. Other types of housing that are prevalent in Mora include large apartment complexes or high rise apartments ( 21.22%), mobile homes or trailers ( 10.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.22%).

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 ( 34.09%). A lesser amount of the housing stock also hails from before 1939 ( 16.23%). There's also some housing in Mora built between 2000 and later ( 11.36%).

Vacant housing appears to be an issue in Mora. Fully 13.04% 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 28.08% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Mora home appreciation rates at 1.73%, which equates to an annual appreciation rate of 7.09%.

NeighborhoodScout's data show that during the latest twelve months, Mora's appreciation rate, at 4.96%, has been at or slightly above the national average. In the latest quarter, Mora's appreciation rate has been 1.73%, which annualizes to a rate of 7.09%.

Relative to Minnesota, our data show that Mora's latest annual appreciation rate is lower than 50% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$122,018

Mora, MN HOME PRICES

Value Range
> $1,075,000 0.0
$807,001 - $1,075,000 0.0
$538,001 - $807,000 0.1
$430,001 - $538,000 0.7
$322,001 - $430,000 2.0
$215,001 - $322,000 4.8
$107,001 - $215,000 49.9
$54,001 - $107,000 28.1
$0 - $54,000 14.4

Very Low for MN
Low for Nation

Value Relative to Nation Value Relative to State
65.1695262633952 83.9835728952772

Number Of Homes And Apartments:
1,500

Rent & Ownership

 

Average Market Rent:
$931 / per month

Homeownership Rate

Homeownership
Owners 45.98
Renters 54.02
Vacant 13.04

Housing Market Details

 

Age of Homes

AGE OF Mora HOMES
2000 or Newer 11.4
1970 - 1999 38.3
1940 - 1969 34.1
1939 or Older 16.2

Types of Homes

TYPE OF Mora HOMES
Single-Family 54.0
Townhomes 4.5
Small Apt. Buildings 9.2
Apt. Complexes 21.2
Mobile Homes 10.7
Other 0.5

Home Size

SIZE OF Mora HOMES
No Bedroom 2.78
1 Bedroom 23.19
2 Bedrooms 30.49
3 Bedrooms 37.04
4 Bedrooms 5.97
5 or more bedrooms 0.52

Mora 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
5.77% 0.33% 1 1
* 10 is highest

Popular Neighborhoods in Mora

Zip Codes in Mora, MN