Saturday, November 11, 2006

Housing Report for Wright County, Minnesota

Wright County had an owner-occupied dwelling median in 2005 of $220,500, according to the American Community Survey. This home value is greater than the Minnesota 2005 home value of $198,800 and greater than median owner-occupied dwelling value of $167,500 across the United States during the same year.

The owner-occupied dwellings in Wright County, Minnesota have seen large increases since the Census values accounted for in the year 2000. The values have increased by $85,200, or 63 percent, from their 2000 value of $135,300.

It can be understood that there is a limited amount affordable residential real estate in Wright County, Minnesota. In 2005, 10.9 percent of owner-occupied dwellings were valued under $125k.

In Wright County, the census reported 44,673 homes in 2005. The county has experienced a growth in housing units, adding all together 8,238 residential units since 2001, or 22.6 percent.

Wright County may be be described as having a relatively high percentage of high-priced residential real estate. In 2005, the American Community Survey reported that 6.1 percent residential property is valued over $500k.

Throughout the State of Minnesota, Wright County places 2 of 87 in terms of percentage growth in new housing structures. The county ranks 27 of 3,141, comparing the percentage change in residential in other US counties.

Data Source: U.S. Census Bureau

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