Willmar, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Willmar, 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

Willmar Housing Market Information

With 19,638 people, 7,785 houses or apartments, and a median cost of homes of $156,417, Willmar real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Willmar, accounting for 59.92% of the city's housing units. Other types of housing that are prevalent in Willmar include large apartment complexes or high rise apartments ( 22.73%), duplexes, homes converted to apartments or other small apartment buildings ( 9.84%), and a few row houses and other attached homes ( 6.50%).

The most prevalent building size and type in Willmar are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.40% owning and 45.60% renting.

There is a lot of housing in Willmar 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 Willmar built between 1940-1969 ( 29.04%). A lesser amount of the housing stock also hails from before 1939 ( 13.37%). There's also some housing in Willmar built between 2000 and later ( 12.55%).

Willmar Home Appreciation Rates

Real estate appreciation rates in Willmar's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.53% during the period.

Over the last year, Willmar appreciation rates have trailed the rest of the nation. In the last twelve months, Willmar's appreciation rate has been 1.45%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Willmar were at -0.47%, which equates to an annual appreciation rate of -1.86%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Willmar differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Willmar - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Willmar real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$156,417

Willmar, MN HOME PRICES

Value Range
> $1,045,000 0.3
$784,001 - $1,045,000 0.0
$522,001 - $784,000 0.7
$418,001 - $522,000 0.7
$314,001 - $418,000 4.3
$209,001 - $314,000 13.8
$104,001 - $209,000 50.4
$52,001 - $104,000 24.7
$0 - $52,000 5.1

Low for MN
Average for Nation

Value Relative to Nation Value Relative to State
47.2284073596625 63.2443531827515

Number Of Homes And Apartments:
7,785

Willmar 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
33.25% 1.68% 4 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$892 / per month

Homeownership Rate

Homeownership
Owners 54.40
Renters 45.60
Vacant 6.31

Housing Market Details

 

Age of Homes

AGE OF Willmar HOMES
2000 or Newer 12.6
1970 - 1999 45.0
1940 - 1969 29.0
1939 or Older 13.4

Types of Homes

TYPE OF Willmar HOMES
Single-Family 59.9
Townhomes 6.5
Small Apt. Buildings 9.8
Apt. Complexes 22.7
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF Willmar HOMES
No Bedroom 2.39
1 Bedroom 12.89
2 Bedrooms 30.97
3 Bedrooms 30.73
4 Bedrooms 17.57
5 or more bedrooms 5.45