New Prague, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Prague Neighborhoods Since 2000




New Prague, 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

New Prague Housing Market Information

With a population of 7,582, 2,629 total housing units (homes and apartments), and a median house value of $258,568, New Prague real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in New Prague, accounting for 70.07% of the city's housing units. Other types of housing that are prevalent in New Prague include row houses and other attached homes ( 17.69%), large apartment complexes or high rise apartments ( 10.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.19%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Prague. Owner-occupied housing accounts for 75.96% of New Prague's homes, and 57.14% have either three or four bedrooms, which is average sized relative to America.

New Prague homes and real estate are some of the newest in America. 41.31% of New Prague's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the New Prague real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 26.22%), and between 1940-1969 ( 22.10%). There's also some housing in New Prague built before 1939 ( 10.36%).

New Prague Home Appreciation Rates

New Prague's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Prague during the period has been just -1.58%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, New Prague's appreciation rate, at 4.42%, has been at or slightly above the national average. In the latest quarter, New Prague's appreciation rate has been 1.44%, which annualizes to a rate of 5.89%.

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

Average Home Values

 

Median Home Value:
$258,568

New Prague, MN HOME PRICES

Value Range
> $1,150,000 0.4
$863,001 - $1,150,000 1.7
$575,001 - $863,000 4.1
$460,001 - $575,000 3.7
$345,001 - $460,000 13.8
$230,001 - $345,000 35.8
$115,001 - $230,000 33.7
$58,001 - $115,000 5.4
$0 - $58,000 1.4

Very High for MN
High for Nation

Value Relative to Nation Value Relative to State
21.2938005390836 18.2751540041068

Number Of Homes And Apartments:
2,629

New Prague 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
24.42% 1.27% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,028 / per month

Homeownership Rate

Homeownership
Owners 75.96
Renters 24.04
Vacant 7.33

Housing Market Details

 

Age of Homes

AGE OF New Prague HOMES
2000 or Newer 41.3
1970 - 1999 26.2
1940 - 1969 22.1
1939 or Older 10.4

Types of Homes

TYPE OF New Prague HOMES
Single-Family 70.1
Townhomes 17.7
Small Apt. Buildings 2.2
Apt. Complexes 10.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF New Prague HOMES
No Bedroom 0.00
1 Bedroom 6.56
2 Bedrooms 26.30
3 Bedrooms 28.83
4 Bedrooms 28.30
5 or more bedrooms 10.01