Homer, AK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Homer Neighborhoods Since 2000




Homer, AK Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Homer Housing Market Information

With 5,515 people, 2,090 houses or apartments, and a median cost of homes of $276,536, Homer real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Homer, accounting for 66.90% of the city's housing units. Other types of housing that are prevalent in Homer include duplexes, homes converted to apartments or other small apartment buildings ( 15.84%), large apartment complexes or high rise apartments ( 10.38%), and a few mobile homes or trailers ( 4.31%).

People in Homer primarily live in small (one, two or no bedroom) single-family detached homes. Homer has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Homer 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 Homer built between 2000 and later ( 23.17%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.11%).

Vacant housing appears to be an issue in Homer. Fully 22.28% of the housing stock is classified as vacant. Left unchecked, vacant Homer homes and apartments can be a drag on the real estate market, holding Homer real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Homer Home Appreciation Rates

Appreciation rates for homes in Homer have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.55%, which ranks in the top 40% nationwide. This equates to an annual average Homer house appreciation rate of 0.73%.

Over the last year, Homer appreciation rates have trailed the rest of the nation. In the last twelve months, Homer's appreciation rate has been 1.88%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Homer were at 1.94%, which equates to an annual appreciation rate of 8.00%.

Relative to Alaska, our data show that Homer's latest annual appreciation rate is higher than 90% of the other cities and towns in Alaska.

Average Home Values

 

Median Home Value:
$276,536

Homer, AK HOME PRICES

Value Range
> $1,100,000 1.3
$825,001 - $1,100,000 1.5
$549,001 - $825,000 4.8
$440,001 - $549,000 9.1
$330,001 - $440,000 17.8
$220,001 - $330,000 37.6
$110,001 - $220,000 22.3
$55,001 - $110,000 2.6
$0 - $55,000 3.0

Very High for AK
Very High for Nation

Value Relative to Nation Value Relative to State
19.7669652789976 17.741935483871

Number Of Homes And Apartments:
2,090

Homer Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AK*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
66.62% 2.96% 4 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,331 / per month

Homeownership Rate

Homeownership
Owners 60.76
Renters 39.24
Vacant 22.28

Housing Market Details

 

Age of Homes

AGE OF Homer HOMES
2000 or Newer 23.2
1970 - 1999 68.4
1940 - 1969 8.1
1939 or Older 0.3

Types of Homes

TYPE OF Homer HOMES
Single-Family 66.9
Townhomes 2.2
Small Apt. Buildings 15.8
Apt. Complexes 10.4
Mobile Homes 4.3
Other 0.4

Home Size

SIZE OF Homer HOMES
No Bedroom 5.80
1 Bedroom 17.00
2 Bedrooms 30.75
3 Bedrooms 30.75
4 Bedrooms 13.02
5 or more bedrooms 2.68

Popular Neighborhoods in Homer

Popular Communities Near Homer, AK

Zip Codes in Homer, AK