Lake Village, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lake Village, AR 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 Q1 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

Lake Village Housing Market Information

With 2,418 people, 987 houses or apartments, and a median cost of homes of $66,801, house prices in Lake Village are some of the most affordable in Arkansas as well as the nation.

Single-family detached homes are the single most common housing type in Lake Village, accounting for 60.94% of the city's housing units. Other types of housing that are prevalent in Lake Village include mobile homes or trailers ( 15.52%), large apartment complexes or high rise apartments ( 12.47%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.81%).

The most prevalent building size and type in Lake Village are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.13% owning and 45.87% renting.

There is a lot of housing in Lake Village 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 Lake Village built between 1940-1969 ( 20.31%). A lesser amount of the housing stock also hails from before 1939 ( 13.16%). There's also some housing in Lake Village built between 2000 and later ( 8.72%).

Vacant housing appears to be an issue in Lake Village. Fully 13.95% of the housing stock is classified as vacant. Left unchecked, vacant Lake Village homes and apartments can be a drag on the real estate market, holding Lake Village 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.

Lake Village Home Appreciation Rates

Real estate appreciation rates in Lake Village's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.37% during the period.

Over the last year, Lake Village appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Village's appreciation rate has been 1.72%, 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 Village were at -1.14%, which equates to an annual appreciation rate of -4.49%.

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

Relative to Arkansas, our data show that Lake Village's latest annual appreciation rate is lower than 70% of the other cities and towns in Arkansas.

Average Home Values

 

Median Home Value:
$66,801

Lake Village, AR HOME PRICES

Value Range
> $1,017,000 0.0
$763,001 - $1,017,000 0.0
$508,001 - $763,000 0.0
$407,001 - $508,000 0.0
$305,001 - $407,000 3.5
$203,001 - $305,000 8.4
$102,001 - $203,000 16.3
$51,001 - $102,000 43.0
$0 - $51,000 28.7

Very Low for AR
Very Low for Nation

Value Relative to Nation Value Relative to State
96.3494667760459 84.1549295774648

Number Of Homes And Apartments:
987

Lake Village Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
25.23% 1.31% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$777 / per month

Homeownership Rate

Homeownership
Owners 54.13
Renters 45.87
Vacant 13.95

Housing Market Details

 

Age of Homes

AGE OF Lake Village HOMES
2000 or Newer 8.7
1970 - 1999 57.8
1940 - 1969 20.3
1939 or Older 13.2

Types of Homes

TYPE OF Lake Village HOMES
Single-Family 60.9
Townhomes 0.3
Small Apt. Buildings 10.8
Apt. Complexes 12.5
Mobile Homes 15.5
Other 0.0

Home Size

SIZE OF Lake Village HOMES
No Bedroom 5.93
1 Bedroom 14.73
2 Bedrooms 18.66
3 Bedrooms 51.44
4 Bedrooms 7.93
5 or more bedrooms 1.31

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Zip Codes in Lake Village, AR