The housing market in Lima, MN is thriving, with the median value of a house currently standing at $195,900. This is significantly lower than the US median value of $338,100, but compensates for it with an impressive 1 year appreciation rate of 15.27%, in comparison to the US 1 year appreciation rate of 8.27%. This makes Lima a great place for potential home owners looking to invest in the housing market.
The median home cost in Lima is $195,900. Home appreciation the last 10 years has been 68.4%. Home Appreciation in Lima is up 19.7%.
Average Age of Homes
- The median age of Lima real estate is 37 years old
The Rental Market in Lima
- Renters make up 13.8% of the Lima population
- 0.0% of houses and apartments in Lima, 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.