Lake Butler, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lake Butler, FL Real Estate Data


Lake Butler Housing Market Information

With 1,845 people, 812 houses or apartments, and a median cost of homes of $121,790, house prices in Lake Butler are solidly below the national average.

Single-family detached homes are the single most common housing type in Lake Butler, accounting for 49.24% of the city's housing units. Other types of housing that are prevalent in Lake Butler include duplexes, homes converted to apartments or other small apartment buildings ( 23.27%), mobile homes or trailers ( 22.73%), and a few large apartment complexes or high rise apartments ( 3.57%).

The most prevalent building size and type in Lake Butler are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 40.48% owning and 59.52% renting.

There is a lot of housing in Lake Butler 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 Butler built between 1940-1969 ( 23.81%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.80%). There's also some housing in Lake Butler built before 1939 ( 8.87%).

Vacant housing appears to be an issue in Lake Butler. Fully 12.12% of the housing stock is classified as vacant. Left unchecked, vacant Lake Butler homes and apartments can be a drag on the real estate market, holding Lake Butler 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 Butler Home Appreciation Rates

Homes have actually lost value in Lake Butler over the last then years, as home values have seen a decline of 20.44% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Lake Butler home appreciation rates at -0.23%, which equates to an annual appreciation rate of -0.92%.

Appreciation rates are so strong in Lake Butler that despite a nationwide downturn in the housing market, Lake Butler real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lake Butler appreciation rates continue to be some of the highest in America, at 6.06%, which is higher than appreciation rates in 73.47% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lake Butler. Lake Butler appreciation rates in the latest quarter were at -0.23%, which equates to an annual appreciation rate of -0.92%.

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

Average Home Values

 

Median Home Value:
$121,790

Lake Butler, FL HOME PRICES

Value Range
> $1,181,000 0.0
$885,001 - $1,181,000 0.0
$590,001 - $885,000 1.6
$472,001 - $590,000 0.6
$354,001 - $472,000 5.9
$236,001 - $354,000 7.2
$118,001 - $236,000 30.8
$59,001 - $118,000 28.0
$0 - $59,000 25.8

Low for FL
Low for Nation

Value Relative to Nation Value Relative to State
64.1714520098441 77.3504273504274

Number Of Homes And Apartments:
812

Rent & Ownership

 

Average Market Rent:
$730 / per month

Homeownership Rate

Homeownership
Owners 40.48
Renters 59.52
Vacant 12.12

Housing Market Details

 

Age of Homes

AGE OF Lake Butler HOMES
2000 or Newer 15.8
1970 - 1999 51.5
1940 - 1969 23.8
1939 or Older 8.9

Types of Homes

TYPE OF Lake Butler HOMES
Single-Family 49.2
Townhomes 1.2
Small Apt. Buildings 23.3
Apt. Complexes 3.6
Mobile Homes 22.7
Other 0.0

Home Size

SIZE OF Lake Butler HOMES
No Bedroom 1.84
1 Bedroom 7.68
2 Bedrooms 30.19
3 Bedrooms 49.46
4 Bedrooms 10.39
5 or more bedrooms 0.43

Lake Butler Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
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
72.81% 3.22% 5 9
* 10 is highest

Popular Neighborhoods in Lake Butler

Zip Codes in Lake Butler, FL