Metropolitan Statistical Area (MSA):
Hutchinson, MN is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Hutchinson, MN metropolitan statistical area (MSA) is a hotbed for real estate activity. The combination of a strong economy and a growing population has resulted in robust demand for housing, both from buyers and renters. This has led to strong competition in the market, with prices rising steadily over the past few years.
The most recent data from the National Association of Realtors shows that the median sales price for homes in the Hutchinson MSA was $186,000 in 2017, up 6.5% from 2016. This trend is expected to continue in 2018 as more buyers enter the market and competition for available homes increases.
Renters are also feeling the squeeze, as vacancy rates have dropped to just 2%. This has led to sharp increases in rents, with the average two-bedroom apartment now renting for $965 per month. Again, this trend is expected to continue in 2018 as more people move to the area and competition for rental units intensifies.
Overall, it is clear that the real estate market in Hutchinson MSA is booming. Prices are on the rise due to strong demand from both buyers and renters. Competition is fierce, so those looking to purchase or rent a home should be prepared to pay top dollar.