The housing market in Orono, MN is strong. The median value of a house in this city is $945,900, which is significantly higher than the US House Median Value of $338,100. Additionally, the 1 year appreciation rate of houses in Orono has been 6.82%, which is lower than the US 1 year House Appreciation rate of 8.27%. This shows that despite the higher median value, there has not been an excessive increase in value over the last year and suggests that the real estate market in Orono is stable and growing at a reasonable pace.
The median home cost in Orono is $945,900. Home appreciation the last 10 years has been 89.8%. Home Appreciation in Orono is up 11.0%.
Average Age of Homes
- The median age of Orono real estate is 40 years old
The Rental Market in Orono
- Renters make up 14.7% of the Orono population
- 0.0% of houses and apartments in Orono, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.