McMinnville, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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McMinnville, OR Real Estate Data


McMinnville Housing Market Information

With a population of 33,892, 11,644 total housing units (homes and apartments), and a median house value of $259,765, McMinnville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in McMinnville, accounting for 53.36% of the city's housing units. Other types of housing that are prevalent in McMinnville include large apartment complexes or high rise apartments ( 21.70%), mobile homes or trailers ( 10.23%), and a few row houses and other attached homes ( 8.82%).

The most prevalent building size and type in McMinnville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.05% owning and 46.95% renting.

There is a lot of housing in McMinnville 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 McMinnville built between 2000 and later ( 20.47%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.24%). There's also some housing in McMinnville built before 1939 ( 6.83%).

McMinnville Home Appreciation Rates

Appreciation rates for homes in McMinnville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.75%, which ranks in the top 40% nationwide. This equates to an annual average McMinnville house appreciation rate of 0.84%.

Appreciation rates are so strong in McMinnville that despite a nationwide downturn in the housing market, McMinnville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, McMinnville appreciation rates continue to be some of the highest in America, at 8.93%, which is higher than appreciation rates in 95.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in McMinnville. McMinnville appreciation rates in the latest quarter were at 4.15%, which equates to an annual appreciation rate of 17.68%.

Importantly, NeighborhoodScout’s exclusive research found that McMinnville's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within McMinnville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in McMinnville - 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 McMinnville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$259,765

McMinnville, OR HOME PRICES

Value Range
> $1,316,000 0.4
$987,001 - $1,316,000 0.4
$658,001 - $987,000 1.9
$526,001 - $658,000 3.5
$395,001 - $526,000 9.7
$263,001 - $395,000 31.0
$132,001 - $263,000 36.5
$66,001 - $132,000 6.4
$0 - $66,000 10.1

Average for OR
High for Nation

Value Relative to Nation Value Relative to State
21.625578263161 53.1400966183575

Number Of Homes And Apartments:
11,644

Rent & Ownership

 

Average Market Rent:
$1,271 / per month

Homeownership Rate

Homeownership
Owners 53.05
Renters 46.95
Vacant 7.77

Housing Market Details

 

Age of Homes

AGE OF McMinnville HOMES
2000 or Newer 20.5
1970 - 1999 54.5
1940 - 1969 18.2
1939 or Older 6.8

Types of Homes

TYPE OF McMinnville HOMES
Single-Family 53.4
Townhomes 8.8
Small Apt. Buildings 5.3
Apt. Complexes 21.7
Mobile Homes 10.2
Other 0.6

Home Size

SIZE OF McMinnville HOMES
No Bedroom 2.30
1 Bedroom 7.79
2 Bedrooms 29.98
3 Bedrooms 45.07
4 Bedrooms 11.49
5 or more bedrooms 3.37

McMinnville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
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
65.34% 3.00% 6 8
* 10 is highest