Reports & Market Data
The 2013 Update has specifically focused on changes that have occurred within the City and the surrounding market area concerning demand for ownership and rental housing. See Full Report
Key Points for Urban Living:
- The decade between 2000 and 2010 was a period of rapid growth in the Mankato area.
- Nearly 74% of the net growth occurred in households with three or fewer members.
- The MSA would be expected to add 365 households per year.
- There are more than 1,800 renter households with an annual income of $50,000 or more.
- Despite continued growth in the rental unit inventory, the estimated vacancy rate was only 0.7%.
- In rental projects primarily marketing to student renters, the vacancy rate was below 0.2%.
- Approximately 55% of renter households can afford $500 or more for rent, although many choose to apply a smaller percentage of their income for housing.
- Mankato area has experienced long-term growth in the size of the available labor force.
- Unemployment rate remains low, trending below the state and national levels
Urban Land Institute – 36th Annual – Emerging Trends in Real Estate (2015)
The Urban Land Institute (www.uli.org) is a nonprofit education and research institute supported by its members. Its mission is to provide leadership in the responsible use of land and in sustaining and creating thriving communities worldwide. Now in its 36th year, Emerging Trends in Real Estate® is one of the most highly regarded annual industry outlooks for the real estate and land use industry. See Full Report
- The urbanization of America has given life to cities.
- Downtown transformations have combined the key ingredients of housing, retail, dining, and walk-to-work offices to generate urban cores, spurring investment and development and raising the quality of life for a roster of cities.
- The millennials are an even larger cohort than their parents – the baby-boom generation.
- Businesses are waking up to a realization that while we were worried about the “jobless recovery” it is not materializing.
- Competition is unrelenting, and the need to have a clear “brand identity” is important as firms seek to navigate in the swift stream of capital.
- As this major segment of the economy returns to textbook fundamentals, confidence in the residential sector should continue to rise.
- For apartments at the more moderate income level, 28 percent recommend selling while holding and acquisition are more attractive, with a combined 72 percent recommending these as opportunities in the year ahead.
- One of the more powerful trends for offices – the live/work/play theme – is not just hype, but statistically significant. The resurgence in downtown living is bolstering secondary office markets around the country.
Greater Mankato Growth Publications
Greater Mankato Growth regularly produces publications with information of interest to businesses currently located or seeking to locate in the City Center, including the annual Way to Grow publication, which highlights the livability and economic vitality of the Greater Mankato region. Learn More
Living in Greater Mankato
With all the services you would expect from a major metro and the charm you can get only from a close-knit community, Greater Mankato is a wonderful place to call home. Learn More
Employers report the “Minnesota work ethic” is here. With high productivity and motivation and low absenteeism, the quality of the workforce is an important reason why businesses locate and expand here. Greater Mankato also has access to an educated workforce, with opportunities extending from school age to higher education and beyond. Learn More