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 21,282, 8,065 total housing units (homes and apartments), and a median house value of $220,353, house prices in Willmar are solidly below the national average.
Single-family detached homes are the single most common housing type in Willmar, accounting for 60.43% of the city's housing units. Other types of housing that are prevalent in Willmar include large apartment complexes or high rise apartments ( 22.19%), duplexes, homes converted to apartments or other small apartment buildings ( 8.58%), and a few row houses and other attached homes ( 6.90%).
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 57.20% owning and 42.80% 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 ( 28.23%). A lesser amount of the housing stock also hails from before 1939 ( 16.30%). There's also some housing in Willmar built between 2000 and later ( 12.40%).
Willmar's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Willmar during the period has been just 4.77%, which is lower than 80% of US communities.
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 3.40%, 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 4.64%, which equates to an annual appreciation rate of 19.89%.
Importantly, this makes Willmar one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Minnesota, our data show that Willmar's latest annual appreciation rate is higher than 50% 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.
$220,353
for Minnesota
for nation
8,065
$1,287 / per month