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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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'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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Lake City HOMES|
|2000 or Newer||19.5|
|1970 - 1999||42.4|
|1940 - 1969||32.1|
|1939 or Older||6.1|
|TYPE OF Lake City HOMES|
|Small Apt. Buildings||15.1|
|SIZE OF Lake City HOMES|
|5 or more bedrooms||1.03|