Largo, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Largo, 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

Largo Housing Market Information

With a population of 81,000, 36,140 total housing units (homes and apartments), and a median house value of $137,735, house prices in Largo are solidly below the national average.

Large apartment complexes or high rise apartments are the single most common housing type in Largo, accounting for 32.47% of the city's housing units. Other types of housing that are prevalent in Largo include single-family detached homes ( 27.95%), mobile homes or trailers ( 27.07%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.20%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Largo primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Largo has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Largo 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 Largo built between 1940-1969 ( 22.10%). A lesser amount of the housing stock also hails from between 2000 and later ( 5.88%).

Vacant housing appears to be an issue in Largo. Fully 21.21% of the housing stock is classified as vacant. Left unchecked, vacant Largo homes and apartments can be a drag on the real estate market, holding Largo 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.

Largo Home Appreciation Rates

Largo's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Largo during the period has been just -1.56%, which is lower than 80% of US communities.

Appreciation rates are so strong in Largo that despite a nationwide downturn in the housing market, Largo real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Largo appreciation rates continue to be some of the highest in America, at 8.75%, which is higher than appreciation rates in 89.86% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Largo. Largo appreciation rates in the latest quarter were at 1.28%, which equates to an annual appreciation rate of 5.24%.

Relative to Florida, our data show that Largo's latest annual appreciation rate is higher than 50% 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 Largo differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Largo - 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 Largo real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$137,735

Largo, FL HOME PRICES

Value Range
> $1,362,000 1.0
$1,021,001 - $1,362,000 0.4
$681,001 - $1,021,000 0.9
$544,001 - $681,000 1.3
$409,001 - $544,000 2.9
$272,001 - $409,000 12.4
$136,001 - $272,000 30.5
$68,001 - $136,000 22.2
$0 - $68,000 28.6

Low for FL
Average for Nation

Value Relative to Nation Value Relative to State
55.8771827024493 69.6581196581197

Number Of Homes And Apartments:
36,140

Largo 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
67.98% 3.05% 4 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,186 / per month

Homeownership Rate

Homeownership
Owners 54.10
Renters 45.90
Vacant 21.21

Housing Market Details

 

Age of Homes

AGE OF Largo HOMES
2000 or Newer 5.9
1970 - 1999 71.1
1940 - 1969 22.1
1939 or Older 0.9

Types of Homes

TYPE OF Largo HOMES
Single-Family 27.9
Townhomes 5.2
Small Apt. Buildings 7.2
Apt. Complexes 32.5
Mobile Homes 27.1
Other 0.2

Home Size

SIZE OF Largo HOMES
No Bedroom 2.57
1 Bedroom 19.95
2 Bedrooms 52.01
3 Bedrooms 19.32
4 Bedrooms 4.79
5 or more bedrooms 1.35