Sacred Heart Minnesota Area Home Supply Charts

This page looks at a variety of Sacred Heart Minnesota housing market data taken from the most recent 2022 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Sacred Heart depicts it has a Housing Units of 285 which is the third most housing units of all other places in the greater Sacred Heart region.

Figure 2 illustrates the housing density in the Sacred Heart housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Sacred Heart depicts it has a Housing Density of 288.3 which is less than most other places in the local area. The city with the highest housing density in the area is Renville which depicts a density of 528.6 (about twice as large). Comparing housing density to the United States average of 39.5, Sacred Heart is quite a bit bigger. Also, measured against the state of Minnesota, housing density of 31.1, Sacred Heart is substantially bigger.

In Figure 3, Sacred Heart area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Sacred Heart depicts it has a Housing Unit Change of 1.1% which is the third most housing units of all other places in the greater Sacred Heart region. The city with the highest change in the housing units in the area is Maynard which shows a housing units of 12.6% ( considerably bigger). Comparing change in the housing units to the United States average of 7.4%, Sacred Heart is approximately a sixth the size. Also, in comparison with the state of Minnesota, change in the housing units of 5.3%, Sacred Heart is approximately a fifth the size.

Figure 4 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Sacred Heart depicts it has a Renter Percent of 20.7% which is the second smallest when ranked by renter percent of all the other places in the local area. Figure 5 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 79.3% which is the second most of all the places in the greater region.

Sacred Heart Minnesota Home Cost Charts

Figure 7 provides aggregate comparative data for the Sacred Heart Minnesota metro area in terms of the median housing rental rate, apartment rent, etc. Sacred Heart shows it has a Median Gross Rent of $721 which is in the middle range of other places in the surrounding region. The city with the highest rental rates in the area is Renville which depicts a rental rates of $927 (28.6% larger). Comparing rental rates to the United States average of $1,163, Sacred Heart is approximately three-fourths the size. Also, measured against the state of Minnesota, rental rates of $1,081, Sacred Heart is approximately three-fourths the size.

Median owner costs for the real estate market are shown in Figure 8 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Sacred Heart depicts it has a Median Owner Cost of $458 which is the second smallest in order of median ownership cost of all the other places in the greater region. Figure 9 shows the median amount of cost as a percent of total household income for people who own homes in the Sacred Heart metro area. it has a Owner Cost as % of HH Income of 12% which is the second smallest when sorted by cost as a percent of household income of all the other places in the greater region. The next chart, Figure 10, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Sacred Heart depicts it has a Median Home Value as Percent of Median Earnings of 90% which is the smallest when ranked by median home value as a percent of median worker earnings of all the other places in the local area.

Next shown in Figure 11 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Sacred Heart depicts it has a % of Income Owner Costs-With Mortgage of 14% which is the second smallest in order of cost as a percent of household income of all the other places in the local area. The city with the highest cost as a percent of household income in the area is Granite Falls which depicts a cost as a percent of household income of 19% (34.5% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 12. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Sacred Heart shows it has a % of Income Owner Costs-No Mortgage of 11% which is the second most of all the places in the surrounding region. The city with the highest cost as a percent of household income in the area is Maynard which depicts a cost as a percent of household income of 18% (56.2% larger).

Figure 13 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Sacred Heart has the largest proportion of rent as a percent of income is less than 10 pct at 36% of the total and is ranked #1. Second, it has the second smallest in order of rent as a percent of income is less than 10 pct of all the other places in the local area when ranked by rent as a percent of income is between 40pct to 50pct at 12% of the total.

Figure 15 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $1,179 which is in the center range of other places in the surrounding region. The city with the highest median real estate taxes paid in the area is Granite Falls which shows a taxes paid of $1,846 (56.6% larger). Comparing median real estate taxes paid to the United States average of $2,690, Sacred Heart is approximately half the size. Also, measured against the state of Minnesota, median real estate taxes paid of $2,767, Sacred Heart is approximately half the size.

Sacred Heart Minnesota Home Financing Charts

Figure 17 shows the proportion of houses with a mortgage versus those without a mortgage. Sacred Heart has one of the largest proportions of houses with mortgages at 68% of the total and is ranked #2. The only larger city being Echo with 69%.

Sacred Heart Minnesota Home Characteristics Charts

Figure 19 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1949 which is less than most other places in the area. The city with the highest year built in the area is Granite Falls which depicts a year built of 1972 ( only slightly larger).

Figure 20 looks at the distribution of housing units by the median age that the homes were built. has the smallest proportion of homes built between 1980 to 1989 at 5% of the total. Second, it has the largest proportion of homes built between 1960 to 1969 at 16% of the total and is ranked #1. Figure 21 shows the year that people who own homes moved into this region. it has the largest proportion of owners moved in 2015 to 2018 at 37% of the total and is ranked #1. Second, it has the smallest proportion of owners moved in 1990 to 1999 at 10% of the total. Figure 22 shows the year that people who rent moved into the area. Sacred Heart has the largest proportion of renters moved in 2010 to 2014 at 55% of the total and is ranked #1.