North Mankato, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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North Mankato, MN Real Estate Data


North Mankato Housing Market Information

With 13,529 people, 5,691 houses or apartments, and a median cost of homes of $197,885, North Mankato real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in North Mankato, accounting for 62.13% of the city's housing units. Other types of housing that are prevalent in North Mankato include large apartment complexes or high rise apartments ( 14.63%), duplexes, homes converted to apartments or other small apartment buildings ( 8.94%), and a few row houses and other attached homes ( 8.30%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in North Mankato. Owner-occupied housing accounts for 71.17% of North Mankato's homes, and 55.82% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in North 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 North Mankato built between 1940-1969 ( 26.25%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.04%). There's also some housing in North Mankato built before 1939 ( 14.76%).

North Mankato Home Appreciation Rates

Real estate appreciation rates in North Mankato's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.14% during the period.

Over the last year, North Mankato appreciation rates have trailed the rest of the nation. In the last twelve months, North Mankato's appreciation rate has been 3.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in North Mankato were at 1.97%, which equates to an annual appreciation rate of 8.12%.

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

Average Home Values

 

Median Home Value:
$197,885

North Mankato, MN HOME PRICES

Value Range
> $1,143,000 0.0
$857,001 - $1,143,000 0.4
$571,001 - $857,000 0.0
$457,001 - $571,000 0.7
$343,001 - $457,000 4.8
$229,001 - $343,000 24.7
$115,001 - $229,000 57.7
$57,001 - $115,000 3.8
$0 - $57,000 7.8

Average for MN
High for Nation

Value Relative to Nation Value Relative to State
33.7061544767816 43.5318275154004

Number Of Homes And Apartments:
5,691

Rent & Ownership

 

Average Market Rent:
$1,076 / per month

Homeownership Rate

Homeownership
Owners 71.17
Renters 28.83
Vacant 3.44

Housing Market Details

 

Age of Homes

AGE OF North Mankato HOMES
2000 or Newer 21.0
1970 - 1999 38.0
1940 - 1969 26.2
1939 or Older 14.8

Types of Homes

TYPE OF North Mankato HOMES
Single-Family 62.1
Townhomes 8.3
Small Apt. Buildings 8.9
Apt. Complexes 14.6
Mobile Homes 6.0
Other 0.0

Home Size

SIZE OF North Mankato HOMES
No Bedroom 0.27
1 Bedroom 8.92
2 Bedrooms 28.54
3 Bedrooms 33.49
4 Bedrooms 22.33
5 or more bedrooms 6.45

North 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
31.43% 1.62% 3 3
* 10 is highest

Popular Neighborhoods in North Mankato

Zip Codes in North Mankato, MN