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 45,140, 17,605 total housing units (homes and apartments), and a median house value of $288,995, Mankato 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 Mankato, accounting for 44.59% of the city's housing units. Other types of housing that are prevalent in Mankato include large apartment complexes or high rise apartments ( 32.91%), duplexes, homes converted to apartments or other small apartment buildings ( 9.34%), and a few row houses and other attached homes ( 8.91%).
The most prevalent building size and type in Mankato are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.41% owning and 54.59% renting.
Mankato homes and real estate are some of the newest in America. 32.15% of Mankato's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Mankato real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 28.53%), and between 1940-1969 ( 22.22%). There's also some housing in Mankato built before 1939 ( 17.10%).
Mankato's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mankato during the period has been just 5.27%, which is lower than 70% of US communities.
Over the last year, Mankato appreciation rates have trailed the rest of the nation. In the last twelve months, Mankato's appreciation rate has been 2.60%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mankato were at -0.95%, which equates to an annual appreciation rate of -3.75%.
Notably, Mankato's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Minnesota, our data show that Mankato's latest annual appreciation rate is lower than 60% 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 Mankato differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mankato - 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 Mankato real estate investment or home purchase decisions.
$288,995
for Minnesota
for nation
17,605
$1,539 / per month