Lake City, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Lake City Neighborhoods Since 2000




Lake City, FL 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 City Housing Market Information

With a population of 12,161, 4,634 total housing units (homes and apartments), and a median house value of $162,425, Lake City real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Lake City, accounting for 63.22% of the city's housing units. Other types of housing that are prevalent in Lake City include large apartment complexes or high rise apartments ( 17.59%), duplexes, homes converted to apartments or other small apartment buildings ( 15.06%), and a few mobile homes or trailers ( 3.33%).

The most prevalent building size and type in Lake City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 43.46% owning and 56.54% renting.

There is a lot of housing in Lake City 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 City built between 1940-1969 ( 32.10%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.46%). There's also some housing in Lake City built before 1939 ( 6.09%).

Vacant housing appears to be an issue in Lake City. Fully 16.20% of the housing stock is classified as vacant. Left unchecked, vacant Lake City homes and apartments can be a drag on the real estate market, holding Lake City 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 City Home Appreciation Rates

Lake City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lake City during the period has been just -1.40%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Lake City's appreciation rate, at 3.61%, has been at or slightly above the national average. In the latest quarter, Lake City's appreciation rate has been 1.20%, which annualizes to a rate of 4.89%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lake City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lake City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lake City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$162,425

Lake City, FL HOME PRICES

Value Range
> $1,223,000 0.2
$917,001 - $1,223,000 0.3
$611,001 - $917,000 2.6
$489,001 - $611,000 3.0
$367,001 - $489,000 4.8
$245,001 - $367,000 10.0
$122,001 - $245,000 35.2
$61,001 - $122,000 30.2
$0 - $61,000 13.8

Low for FL
Average for Nation

Value Relative to Nation Value Relative to State
44.6736200632837 60.4700854700855

Number Of Homes And Apartments:
4,634

Lake City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
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
98.42% 4.05% 8 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$993 / per month

Homeownership Rate

Homeownership
Owners 43.46
Renters 56.54
Vacant 16.20

Housing Market Details

 

Age of Homes

AGE OF Lake City HOMES
2000 or Newer 19.5
1970 - 1999 42.4
1940 - 1969 32.1
1939 or Older 6.1

Types of Homes

TYPE OF Lake City HOMES
Single-Family 63.2
Townhomes 0.8
Small Apt. Buildings 15.1
Apt. Complexes 17.6
Mobile Homes 3.3
Other 0.0

Home Size

SIZE OF Lake City HOMES
No Bedroom 0.85
1 Bedroom 6.69
2 Bedrooms 38.41
3 Bedrooms 45.61
4 Bedrooms 7.41
5 or more bedrooms 1.03