Lake Worth, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Lake Worth Neighborhoods Since 2000




Lake Worth, 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 Worth Housing Market Information

With a population of 37,498, 12,784 total housing units (homes and apartments), and a median house value of $136,239, house prices in Lake Worth are solidly below the national average.

Single-family detached homes are the single most common housing type in Lake Worth, accounting for 50.81% of the city's housing units. Other types of housing that are prevalent in Lake Worth include large apartment complexes or high rise apartments ( 26.42%), duplexes, homes converted to apartments or other small apartment buildings ( 17.02%), and a few mobile homes or trailers ( 3.22%).

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

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. Lake Worth's housing was primarily built during this period, from the '40s through the '60s. A full 45.47% of the city's housing hails from this era. Other housing ages represented in Lake Worth include homes built between 1970-1999 ( 31.76%) and housing constructed before 1939 ( 15.24%). There's also some housing in Lake Worth built between 2000 and later ( 7.53%).

Vacant housing appears to be an issue in Lake Worth. Fully 21.26% of the housing stock is classified as vacant. Left unchecked, vacant Lake Worth homes and apartments can be a drag on the real estate market, holding Lake Worth 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 Worth Home Appreciation Rates

Homes have actually lost value in Lake Worth over the last then years, as home values have seen a decline of 21.45% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Lake Worth home appreciation rates at 1.80%, which equates to an annual appreciation rate of 7.39%.

Appreciation rates are so strong in Lake Worth that despite a nationwide downturn in the housing market, Lake Worth real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lake Worth appreciation rates continue to be some of the highest in America, at 12.33%, which is higher than appreciation rates in 97.86% 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 Worth. Lake Worth appreciation rates in the latest quarter were at 1.80%, which equates to an annual appreciation rate of 7.39%.

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

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

Average Home Values

 

Median Home Value:
$136,239

Lake Worth, FL HOME PRICES

Value Range
> $1,474,000 1.2
$1,105,001 - $1,474,000 0.3
$737,001 - $1,105,000 1.2
$589,001 - $737,000 2.5
$442,001 - $589,000 3.8
$294,001 - $442,000 14.6
$147,001 - $294,000 32.8
$74,001 - $147,000 30.0
$0 - $74,000 13.5

Low for FL
Average for Nation

Value Relative to Nation Value Relative to State
56.6096331887964 71.5811965811966

Number Of Homes And Apartments:
12,784

Lake Worth 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
90.23% 3.80% 7 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,251 / per month

Homeownership Rate

Homeownership
Owners 48.73
Renters 51.27
Vacant 21.26

Housing Market Details

 

Age of Homes

AGE OF Lake Worth HOMES
2000 or Newer 7.5
1970 - 1999 31.8
1940 - 1969 45.5
1939 or Older 15.2

Types of Homes

TYPE OF Lake Worth HOMES
Single-Family 50.8
Townhomes 2.5
Small Apt. Buildings 17.0
Apt. Complexes 26.4
Mobile Homes 3.2
Other 0.0

Home Size

SIZE OF Lake Worth HOMES
No Bedroom 4.00
1 Bedroom 22.74
2 Bedrooms 42.27
3 Bedrooms 22.67
4 Bedrooms 7.09
5 or more bedrooms 1.24