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 214 people, 115 houses or apartments, and a median cost of homes of $360,868, Orr real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Orr, accounting for 62.07% of the city's housing units. Other types of housing that are prevalent in Orr include large apartment complexes or high rise apartments ( 36.21%), mobile homes or trailers ( 1.72%).
There is a lot of housing in Orr 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 Orr built between 1940-1969 ( 25.29%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.99%). There's also some housing in Orr built before 1939 ( 21.26%).
Vacant housing appears to be an issue in Orr. Fully 33.91% of the housing stock is classified as vacant. Left unchecked, vacant Orr homes and apartments can be a drag on the real estate market, holding Orr real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Orr's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Orr during the period has been just 4.59%, which is lower than 80% of US communities.
Appreciation rates are so strong in Orr that despite a nationwide downturn in the housing market, Orr real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Orr appreciation rates continue to be some of the highest in America, at 12.30%, which is higher than appreciation rates in 94.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Orr. Orr appreciation rates in the latest quarter were at 4.79%, which equates to an annual appreciation rate of 20.60%.
Importantly, this makes Orr 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 Orr's latest annual appreciation rate is higher than 90% of the other cities and towns in Minnesota.
$360,868
for Minnesota
for nation
115
$1,153 / per month