Lake Placid, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Lake Placid Neighborhoods Since 2000




Lake Placid, 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 Placid Housing Market Information

With a population of 2,164, 767 total housing units (homes and apartments), and a median house value of $192,150, Lake Placid real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Lake Placid, accounting for 49.95% of the town's housing units. Other types of housing that are prevalent in Lake Placid include duplexes, homes converted to apartments or other small apartment buildings ( 21.55%), large apartment complexes or high rise apartments ( 17.87%), and a few row houses and other attached homes ( 5.70%).

People in Lake Placid primarily live in small (one, two or no bedroom) single-family detached homes. Lake Placid has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Lake Placid 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 Placid built between 2000 and later ( 16.14%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.69%). There's also some housing in Lake Placid built before 1939 ( 2.90%).

Vacant housing appears to be an issue in Lake Placid. Fully 25.89% of the housing stock is classified as vacant. Left unchecked, vacant Lake Placid homes and apartments can be a drag on the real estate market, holding Lake Placid 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 Placid Home Appreciation Rates

Homes have actually lost value in Lake Placid over the last then years, as home values have seen a decline of 27.75% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Lake Placid home appreciation rates at 10.69%, which equates to an annual appreciation rate of 50.11%.

Appreciation rates are so strong in Lake Placid that despite a nationwide downturn in the housing market, Lake Placid real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lake Placid appreciation rates continue to be some of the highest in America, at 24.47%, which is higher than appreciation rates in 99.95% 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 Placid. Lake Placid appreciation rates in the latest quarter were at 10.69%, which equates to an annual appreciation rate of 50.11%.

Importantly, this makes Lake Placid one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Florida, our data show that Lake Placid's latest annual appreciation rate is higher than 90% 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 town. Individual neighborhoods within Lake Placid differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lake Placid - 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 Placid real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$192,150

Lake Placid, FL HOME PRICES

Value Range
> $1,402,000 0.9
$1,052,001 - $1,402,000 0.4
$701,001 - $1,052,000 2.5
$561,001 - $701,000 1.0
$421,001 - $561,000 5.8
$280,001 - $421,000 14.2
$140,001 - $280,000 33.1
$70,001 - $140,000 31.1
$0 - $70,000 11.0

Average for FL
High for Nation

Value Relative to Nation Value Relative to State
34.2493847415915 48.2905982905983

Number Of Homes And Apartments:
767

Lake Placid 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
74.43% 3.28% 5 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$927 / per month

Homeownership Rate

Homeownership
Owners 40.94
Renters 59.06
Vacant 25.89

Housing Market Details

 

Age of Homes

AGE OF Lake Placid HOMES
2000 or Newer 16.1
1970 - 1999 66.3
1940 - 1969 14.7
1939 or Older 2.9

Types of Homes

TYPE OF Lake Placid HOMES
Single-Family 50.0
Townhomes 5.7
Small Apt. Buildings 21.5
Apt. Complexes 17.9
Mobile Homes 4.9
Other 0.0

Home Size

SIZE OF Lake Placid HOMES
No Bedroom 2.32
1 Bedroom 17.58
2 Bedrooms 41.35
3 Bedrooms 30.72
4 Bedrooms 6.86
5 or more bedrooms 1.16

Popular Communities Near Lake Placid, FL

Zip Codes in Lake Placid, FL