Big Lake, AK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Big Lake, AK Real Estate Data


Big Lake Housing Market Information

With a population of 3,673, 1,304 total housing units (homes and apartments), and a median house value of $209,640, Big Lake real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Big Lake, accounting for 92.74% of the town's housing units. Other types of housing that are prevalent in Big Lake include duplexes, homes converted to apartments or other small apartment buildings ( 3.43%), mobile homes or trailers ( 2.15%).

Dwellings in Big Lake tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 65.69% of the homes in Big Lake have two or fewer bedrooms.

There is a lot of housing in Big Lake built from 1970 to 1999 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 Big Lake built between 2000 and later ( 26.58%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.59%).

A decent proportion of the Big Lake housing stock is seasonally occupied. That is, homes and condos in Big Lake are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Big Lake housing market speaks to its popularity as a vacation location of choice.

Big Lake Home Appreciation Rates

Appreciation rates for homes in Big Lake have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.96%, which ranks in the top 30% nationwide. This equates to an annual average Big Lake house appreciation rate of 0.95%.

Over the last year, Big Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Big Lake's appreciation rate has been -0.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Big Lake were at -0.10%, which equates to an annual appreciation rate of -0.39%.

Relative to Alaska, our data show that Big Lake's latest annual appreciation rate is lower than 60% of the other cities and towns in Alaska.

Average Home Values

 

Median Home Value:
$209,640

Big Lake, AK HOME PRICES

Value Range
> $1,067,000 0.9
$801,001 - $1,067,000 0.4
$533,001 - $801,000 2.2
$427,001 - $533,000 6.7
$320,001 - $427,000 13.6
$213,001 - $320,000 26.2
$107,001 - $213,000 33.2
$53,001 - $107,000 9.5
$0 - $53,000 6.9

Average for AK
High for Nation

Value Relative to Nation Value Relative to State
29.6027188562053 42.6229508196721

Number Of Homes And Apartments:
1,304

Rent & Ownership

 

Average Market Rent:
$1,335 / per month

Homeownership Rate

Homeownership
Owners 82.36
Renters 17.64
Vacant 53.35

Housing Market Details

 

Age of Homes

AGE OF Big Lake HOMES
2000 or Newer 26.6
1970 - 1999 60.2
1940 - 1969 12.6
1939 or Older 0.6

Types of Homes

TYPE OF Big Lake HOMES
Single-Family 92.7
Townhomes 0.9
Small Apt. Buildings 3.4
Apt. Complexes 0.8
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Big Lake HOMES
No Bedroom 10.41
1 Bedroom 22.40
2 Bedrooms 32.88
3 Bedrooms 24.22
4 Bedrooms 8.34
5 or more bedrooms 1.75

Big Lake Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AK*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
90.22% 3.80% 8 10
* 10 is highest

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