Lamar, CO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Lamar Neighborhoods Since 2000




Lamar, CO 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

Lamar Housing Market Information

With a population of 7,555, 3,137 total housing units (homes and apartments), and a median house value of $122,699, house prices in Lamar are solidly below the national average.

Single-family detached homes are the single most common housing type in Lamar, accounting for 70.81% of the city's housing units. Other types of housing that are prevalent in Lamar include mobile homes or trailers ( 10.22%), duplexes, homes converted to apartments or other small apartment buildings ( 9.38%), and a few large apartment complexes or high rise apartments ( 9.22%).

The most prevalent building size and type in Lamar are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.19% owning and 39.81% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Lamar's housing was primarily built during this period, from the '40s through the '60s. A full 40.73% of the city's housing hails from this era. Other housing ages represented in Lamar include homes built between 1970-1999 ( 31.93%) and housing constructed before 1939 ( 23.21%). There's also some housing in Lamar built between 2000 and later ( 4.14%).

Vacant housing appears to be an issue in Lamar. Fully 17.36% of the housing stock is classified as vacant. Left unchecked, vacant Lamar homes and apartments can be a drag on the real estate market, holding Lamar 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.

Lamar Home Appreciation Rates

In the last 10 years, Lamar has experienced some of the highest home appreciation rates of any community in the nation. Lamar real estate appreciated 16.80% over the last ten years, which is an average annual home appreciation rate of 1.56%, putting Lamar in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lamar definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Lamar's appreciation rate, at 4.45%, has been at or slightly above the national average. In the latest quarter, Lamar's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Colorado, our data show that Lamar's latest annual appreciation rate is lower than 80% of the other cities and towns in Colorado.

Average Home Values

 

Median Home Value:
$122,699

Lamar, CO HOME PRICES

Value Range
> $1,133,000 0.0
$849,001 - $1,133,000 0.1
$566,001 - $849,000 0.9
$453,001 - $566,000 0.0
$340,001 - $453,000 3.2
$227,001 - $340,000 6.6
$113,001 - $227,000 26.9
$57,001 - $113,000 29.7
$0 - $57,000 32.7

Very Low for CO
Low for Nation

Value Relative to Nation Value Relative to State
63.9399976561584 89.9563318777293

Number Of Homes And Apartments:
3,137

Lamar Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
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
27.66% 1.43% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$715 / per month

Homeownership Rate

Homeownership
Owners 60.19
Renters 39.81
Vacant 17.36

Housing Market Details

 

Age of Homes

AGE OF Lamar HOMES
2000 or Newer 4.1
1970 - 1999 31.9
1940 - 1969 40.7
1939 or Older 23.2

Types of Homes

TYPE OF Lamar HOMES
Single-Family 70.8
Townhomes 0.4
Small Apt. Buildings 9.4
Apt. Complexes 9.2
Mobile Homes 10.2
Other 0.0

Home Size

SIZE OF Lamar HOMES
No Bedroom 0.50
1 Bedroom 8.56
2 Bedrooms 34.88
3 Bedrooms 37.43
4 Bedrooms 17.49
5 or more bedrooms 1.13

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Zip Codes in Lamar, CO