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 14,678, 6,368 total housing units (homes and apartments), and a median house value of $283,322, Hutchinson 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 Hutchinson, accounting for 53.13% of the city's housing units. Other types of housing that are prevalent in Hutchinson include large apartment complexes or high rise apartments ( 24.15%), row houses and other attached homes ( 12.65%), and a few mobile homes or trailers ( 5.05%).
There is a lot of housing in Hutchinson 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 Hutchinson built between 2000 and later ( 22.32%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.94%). There's also some housing in Hutchinson built before 1939 ( 10.01%).
Real estate appreciation rates in Hutchinson's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.35% during the period.
Over the last year, Hutchinson appreciation rates have trailed the rest of the nation. In the last twelve months, Hutchinson's appreciation rate has been 5.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hutchinson were at 4.64%, which equates to an annual appreciation rate of 19.89%.
Importantly, this makes Hutchinson 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 Hutchinson's latest annual appreciation rate is higher than 80% 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 Hutchinson differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hutchinson - 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 Hutchinson real estate investment or home purchase decisions.
$283,322
for Minnesota
for nation
6,368
$1,245 / per month