Osakis, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Osakis, 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

Osakis Housing Market Information

With 1,719 people, 662 houses or apartments, and a median cost of homes of $200,673, Osakis real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Osakis, accounting for 75.23% of the city's housing units. Other types of housing that are prevalent in Osakis include large apartment complexes or high rise apartments ( 10.44%), row houses and other attached homes ( 6.88%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.01%).

Dwellings in Osakis tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 47.13% of the homes in Osakis have two or fewer bedrooms.

There is a lot of housing in Osakis 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 Osakis built between 1940-1969 ( 28.33%). A lesser amount of the housing stock also hails from before 1939 ( 22.94%). There's also some housing in Osakis built between 2000 and later ( 17.32%).

Vacant housing appears to be an issue in Osakis. Fully 24.08% of the housing stock is classified as vacant. Left unchecked, vacant Osakis homes and apartments can be a drag on the real estate market, holding Osakis 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.

Osakis Home Appreciation Rates

Appreciation rates for homes in Osakis have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.12%, which ranks in the top 40% nationwide. This equates to an annual average Osakis house appreciation rate of 0.50%.

Over the last year, Osakis appreciation rates have trailed the rest of the nation. In the last twelve months, Osakis's appreciation rate has been 3.14%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Osakis were at -0.47%, which equates to an annual appreciation rate of -1.86%.

Relative to Minnesota, our data show that Osakis's latest annual appreciation rate is lower than 70% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$200,673

Osakis, MN HOME PRICES

Value Range
> $1,112,000 0.5
$834,001 - $1,112,000 0.7
$556,001 - $834,000 2.1
$445,001 - $556,000 4.3
$334,001 - $445,000 10.1
$223,001 - $334,000 20.7
$111,001 - $223,000 39.7
$56,001 - $111,000 13.3
$0 - $56,000 8.6

Average for MN
High for Nation

Value Relative to Nation Value Relative to State
32.0696120942224 40.2464065708419

Number Of Homes And Apartments:
662

Osakis 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
66.49% 3.00% 9 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$866 / per month

Homeownership Rate

Homeownership
Owners 69.33
Renters 30.67
Vacant 24.08

Housing Market Details

 

Age of Homes

AGE OF Osakis HOMES
2000 or Newer 17.3
1970 - 1999 31.4
1940 - 1969 28.3
1939 or Older 22.9

Types of Homes

TYPE OF Osakis HOMES
Single-Family 75.2
Townhomes 6.9
Small Apt. Buildings 4.0
Apt. Complexes 10.4
Mobile Homes 3.4
Other 0.0

Home Size

SIZE OF Osakis HOMES
No Bedroom 4.93
1 Bedroom 12.50
2 Bedrooms 29.70
3 Bedrooms 33.03
4 Bedrooms 9.06
5 or more bedrooms 10.78

Popular Neighborhoods in Osakis

Zip Codes in Osakis, MN