Sparks appreciation rates and housing market information

Sparks housing market information

With a population of 66,532, 26,083 total housing units (homes and apartments), and a median house value of $254,192, Sparks real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Sparks, accounting for 60.30% of the city's housing units. Other types of housing that are prevalent in Sparks include large apartment complexes or high rise apartments (21.27%), duplexes, homes converted to apartments, or other small apartment buildings (9.17%), row houses and other attached homes (5.36%), and a few mobile homes or trailers (3.43%).

The most prevalent building size and type in Sparks are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 56.55% owning, and 37.96% renting.

There is a lot of housing in Sparks 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 Sparks built from 1940-1969 (24.80%). A lesser amount of the housing stock also hails from 1995 and later (13.88%), and some were built from 1939 and earlier (13.88%).

Sparks home appreciation rates

Real estate appreciation rates in Sparks have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.67% during the period.

Over the last year, Sparks appreciation rates have trailed the rest of the nation. In the last twelve months, Sparks's appreciation rate has been -15.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sparks were at -3.56%, which equates to an annual appreciation rate of -14.24%.

Notably, Sparks's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Nevada, our data show that Sparks's latest annual appreciation rate is higher than 22% of the other cities and towns in Nevada.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Sparks differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sparks - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Sparks real estate investment or home purchase decisions.