Lake Mary appreciation rates and housing market information

Lake Mary housing market information

With 11,289 people, 4,284 houses or apartments, and a median cost of homes of $377,908, Lake Mary house prices are not only among the most expensive in Florida, Lake Mary real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Lake Mary, accounting for 81.93% of the city's housing units. Other types of housing that are prevalent in Lake Mary include large apartment complexes or high rise apartments (6.70%), mobile homes or trailers (5.95%), duplexes, homes converted to apartments, or other small apartment buildings (4.08%), and a few row houses and other attached homes (1.33%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Lake Mary. Owner-occupied housing accounts for 80.74% of Lake Mary's homes, and 73.11% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lake Mary built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lake Mary built from 1995 and later (33.57%). A lesser amount of the housing stock also hails from 1940-1969 (9.64%), and some were built from 1939 and earlier (9.64%).

Lake Mary home appreciation rates

Appreciation rates for homes in Lake Mary have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 102.00%, which ranks in the top 20% nationwide. This equates to an annual average Lake Mary house appreciation rate of 10.20%.

Over the last year, Lake Mary appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Mary's appreciation rate has been -13.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Mary were at 0.09%, which equates to an annual appreciation rate of 0.36%.

Relative to Florida, our data show that Lake Mary's latest annual appreciation rate is higher than 39% of the other cities and towns in Florida.