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 8,277, 1,155 total housing units (homes and apartments), and a median house value of $464,554, New Prague real estate is some of the most expensive in Minnesota, although New Prague home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in New Prague, accounting for 70.65% of the city's housing units. Other types of housing that are prevalent in New Prague include row houses and other attached homes ( 22.86%), large apartment complexes or high rise apartments ( 6.49%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Prague. Owner-occupied housing accounts for 80.98% of New Prague's homes, and 59.22% have either three or four bedrooms, which is average sized relative to America.
New Prague homes and real estate are some of the newest in America. 56.28% of New Prague'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 New Prague real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 18.18%), and before 1939 ( 16.45%). There's also some housing in New Prague built between 1940-1969 ( 9.09%).
Real estate appreciation rates in New Prague's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.78% during the period.
Over the last year, New Prague appreciation rates have trailed the rest of the nation. In the last twelve months, New Prague's appreciation rate has been 2.63%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Prague were at 2.27%, which equates to an annual appreciation rate of 9.37%.
Relative to Minnesota, our data show that New Prague's latest annual appreciation rate is lower than 60% of the other cities and towns in Minnesota.
$464,554
for Minnesota
for nation
1,155
$1,549 / per month