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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 34,530, 12,887 total housing units (homes and apartments), and a median house value of $487,119, 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 60.74% of the city's housing units. Other types of housing that are prevalent in McMinnville include large apartment complexes or high rise apartments ( 16.74%), mobile homes or trailers ( 8.31%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.97%).
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 58.15% owning and 41.85% 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 ( 27.85%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.49%). There's also some housing in McMinnville built before 1939 ( 6.15%).
In the last 10 years, McMinnville has experienced some of the highest home appreciation rates of any community in the nation. McMinnville real estate appreciated 127.82% over the last ten years, which is an average annual home appreciation rate of 8.58%, putting McMinnville in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, McMinnville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, McMinnville appreciation rates have trailed the rest of the nation. In the last twelve months, McMinnville's appreciation rate has been 5.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in McMinnville were at -1.63%, which equates to an annual appreciation rate of -6.36%.
Notably, McMinnville's appreciation rate in the latest quarter is one of the lowest in America.
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.
$487,119
for Oregon
for nation
12,887
$1,826 / per month